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

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

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

  • By ICN Bureau | November 19, 2024

Aramco, one of the world’s leading integrated energy and chemicals companies, China Petroleum & Chemical Corporation (SINOPEC), and Fujian Petrochemical Company Limited (FPCL) have yesterday broken ground on a new integrated refining and petrochemical complex in Fujian Province, China.

The facility is planned to have a 16 million tons-per-year oil refining unit (320,000 barrels per day), a 1.5 million tons-per-year ethylene unit, a two million tons paraxylene and downstream derivatives capacity, and a 300,000 tons crude oil terminal. FPCL, a 50:50 joint venture between SINOPEC and Fujian Petrochemical Industrial Group Company, will own a 50% stake in the complex, with Aramco and SINOPEC each taking a 25% stake. The project is expected to be fully operational by the end of 2030.

Mohammed Y. Al Qahtani, Aramco Downstream President, said: “Building on our strong relationships with both SINOPEC and Fujian Petrochemical, today’s groundbreaking further expands Aramco’s growing downstream investment portfolio in China. We will supply in excess of one million barrels per day of our crude oil to these high chemical conversion assets in China, reinforcing Aramco’s role as a reliable and long-term partner in China’s development. This also advances our liquids-to-chemicals strategy, through which we intend to direct more of our crude towards helping meet rising global petrochemicals demand.”

Ma Yongsheng, SINOPEC Chairman, said: “Both SINOPEC and Aramco are committed to promoting the high-quality development of the petroleum and petrochemical industry. Aramco's participation supplies long-term reliable and competitive feedstock for the project and further boosts the healthy development of Gulei Petrochemical Base. Successful cooperation in this project 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.”

Register Now to Attend Agrochem Summit 2024 on Friday, December 13th, 2024 at The Park, New Delhi

Upcoming E-conferences

Agrochem Summit 2024

December 13, 2024

PetroChem Summit 2024

December 18, 2024

Other Related stories

Startups

Chemical

Energy

Digitization