Aramco and Sinopec, one of the world’s largest energy and petrochemical corporations, have signed heads of agreement for a greenfield project in Gulei, Fujian Province, China, which plans to include a 320 000 bpd refinery and 1.5 million tpy 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 15 December 2022, 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 Y. 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.”
The announcements support Aramco’s role as a reliable energy supplier to China as the company seeks to expand its liquids to chemicals capacity to up to 4 million bpd by 2030. The collaboration also aligns with Sinopec’s vision to become a world-leading energy and petrochemical corporation, providing quality products and reliable energy to benefit the lives of people worldwide.
