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  • Saudi Aramco expands presence in China refining market with signing of MOU with Zhejiang Petrochemical
    édité le 22/10/2018 - Plus de news de "SAUDI ARAMCO" - Voir la fiche entreprise de "SAUDI ARAMCO"


Saudi Aramco expands presence in China refining market with signing of MOU with Zhejiang Petrochemical
Saudi Aramco recently signed an MoU with Chinese Zhejiang provincial government during the 2nd International Petroleum and Natural Gas Enterprises Conference (IPEC), to acquire a share of Zhejiang Petrochemical’s new refinery project.

Abdulaziz Al Judaimi, Sr. VP Downstream, said: "We are exploring opportunities for new refining and petrochemicals facilities, making further investments in China. Saudi Aramco has recently signed a crude oil supply agreement with Zhejiang Petrochemical (Rongsheng). This increase in customer base is due to our continuous focus and attention to the Chinese market. We are also a major JV partner in a growing portfolio of refining and petrochemical assets in China."

Saudi Aramco plays an important part in China’s energy security. Since our first crude delivery to China, we have steadily increased our supply to Chinese oil companies in line with their requirements. Since 2006 to date, no one delivered more oil to China than Saudi Aramco. Helping China meet its critical energy needs shows Aramco’s commitment to key global markets.

Saudi Aramco is working to achieve a better balance between its world-class upstream and its growing downstream. The company’s downstream strategy seeks to enhance the value of the hydrocarbon resource base by targeting increased horizontal and vertical integration across the hydrocarbon value chain. The successful execution of the downstream strategy would deliver a world leading, strategically integrated downstream network and a robust portfolio that is more resilient to market turbulence.

Major refining, marketing and petrochemicals joint ventures are being created in such leading consuming nations as China and India, besides Malaysia, in addition to our existing assets in the U.S., South Korea, and Japan.

About Saudi Aramco

Saudi Aramco is a leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
“We are counting on the long-standing relationship between Saudi Aramco and SABIC on one side, and KBR on the other, to develop this preliminary engineering package for the world-class complex.” says Fahad E. Al-Helal, vice president of Project Management.

About Rongsheng Petrochemical Co., Ltd.

Rongsheng Petrochemical Co., Ltd. is located in Xiaoshan district, Hangzhou city, in neighborhood with Xiaoshan International Airport and China Textile City. The company ascends the high ranking of the petrochemical industry in China.
The company is specialized in the production and marketing of petrochemical and chemical fiber. The company has an annual production capability of 2 million tons of aromatic hydrocarbon, over 13 million tons of pure terephthalic acid (PTA), 2million tons of PET, 1 million tons of POY and FDY, 0.45 millon tons of DTY.


Origine : Communiqué SAUDI ARAMCO

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