Riyadh, Saudi Arabia–Saudi Aramco, China Petroleum and Chemical Corporation (Sinopec) and SABIC are exploring collaboration in refining and petrochemical projects in China and Saudi Arabia.
Aramco and Sinopec have signed heads of agreement for a greenfield project in Gulei in Fujian province, which plans to include a 320,000 barrels-per-day refinery and 1.5 million tons-per-year petrochemical cracker complex. It is expected to commence operations by the end of 2025.
Additionally, Aramco, SABIC and Sinopec signed a Memorandum of Understanding (MoU) on December 15 to study the economic and technical feasibility of developing a new petrochemical complex to be integrated with an existing refinery in Yanbu, Saudi Arabia.
Mohammed Al Qahtani, Aramco Senior Vice President of Downstream, said, “These projects represent an opportunity to contribute to a modern, efficient and integrated downstream sector in both China and Saudi Arabia. They also underpin our long-term commitment to remain a reliable supplier of energy and chemicals to Asia’s largest economy.”