Aramco Outlines Plans For Joint Venture In China
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2022-03-11 HKT 02:18
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Saudi Aramco said on Thursday its joint venture in China will develop a major integrated refinery and petrochemical complex in the city of Panjin, in northeastern Liaoning province.
The project, expected to be operational in 2024, combines a 300,000 barrel-per-day capacity refinery and an ethylene-based steam cracker, with Aramco set to supply up to 210,000 barrels a day of crude oil feedstock.
A Saudi Aramco spokesperson said: “China is a cornerstone of our downstream expansion strategy in Asia and an increasingly significant driver of global chemical demand.”
Huajin Aramco Petrochemical Company (HAPCO) is a joint venture between Saudi oil giant Aramco, and China’s North Huajin Chemical Industries and Panjin Xincheng Industrial. (Reuters)
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