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Aramco, SINOPEC, and Fujian Petrochemical break ground on integrated refining and petrochemical venture in China

Taanvi Sawhnay by Taanvi Sawhnay
November 19, 2024
in Asia, Petrochemicals
Reading Time: 2 mins read
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Aramco, SINOPEC, and Fujian Petrochemical break ground on integrated refining and petrochemical venture in China

Photo Credit: https://www.indianchemicalnews.com/ At the groundbreaking ceremony: Aramco Downstream President Mohammed Y. Al Qahtani (L8), Aramco Executive Vice President of Products & Customers Yasser Mufti (R2), Aramco Asia President Saleh Zaid (L3), Secretary of the CPC Fujian Provincial Committee and Chairman of NPC Standing Committee Zhou Zuyi (R8), Chairman and Secretary of the Leading Party Member Group of Sinopec Group Ma Yongsheng (R7), President and Deputy Secretary of the Leading Party Members Group of Sinopec Group Zhao Dong (L7), and Chairman of Fujian Petrochemical Company Limited Zhang Xiguo (R1).

Complex awaited to supply around five million tons per year of feedstock to Gulei Petrochemical Base

Aramco, one of the world’s main integrated energy and chemicals business, China Petroleum & Chemical Corporation (SINOPEC), and Fujian Petrochemical Company Limited (FPCL) have the day past damaged ground on new integrated refining and petrochemical complex in Fujian Province, China.

The facility is planned to have a sixteen million tons per year oil refining unit (320,000 barrels per day), a 1.5 million tons per year ethylene unit, two million tons paraxylene and downstream derivatives potential, and a 300,000 heaps crude oil terminal. FPCL, a 50:50 joint project between SINOPEC and Fujian Petrochemical Industrial Group Company, will very own a 50% stake within the complex, with Aramco and SINOPEC each taking 25% stake. The venture is awaited to be completely operational by the end of 2030.

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Mohammed Y. Al Qahtani, Aramco Downstream President, stated: “Building on our strong relationships with both SINOPEC and Fujian Petrochemical, nowadays groundbreaking further expands Aramco’s growing downstream financing portfolio in China. We will supply in excess of one million barrels per day of our crude oil to those high chemical assets in China, reinforcing Aramco’s position as a dependable and long-time period partner in China’s development. This additionally advances our liquids to chemicals approach, through which we intend to direct extra of our crude towards to assisting meet rising worldwide petrochemicals call.”

Ma Yongsheng, SINOPEC Chairman, said: “Both SINOPEC and Aramco are dedicated to promoting the high quality development of the petroleum and petrochemical industry. Aramco’s participation supplies long-term dependable and competitive feedstock for the venture and similarly boosts the healthy improvement of Gulei Petrochemical Base. Successful cooperation in this venture marks a new milestone in the China-Saudi all-weather strategic partnership, with a focus on greater domestic circulation and in line with the dual circulation strategy.”

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Taanvi Sawhnay

Taanvi Sawhnay

I’m Taanvi Sawhnay, known as Tan, a professional blogger with a deep interest in the global chemical industry. I’ve spent years writing for various platforms, delivering insightful analysis and up-to-date news. At ChemDive, I share my knowledge and passion, making complex industry trends accessible to professionals, academics, and enthusiasts alike. My goal is to engage readers with clear, informative content while keeping them informed about the latest developments in the chemical world.

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