Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, Sinopec (China Petroleum and Chemical Corporation), and SABIC are exploring collaboration across refining and petrochemical projects in China and Saudi Arabia, Report informs referring to an Aramco press release.
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, 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.