Saudi Aramco, Sinopec and SABIC, one of the world's leading integrated energy and chemical companies, are exploring cooperation between oil refining and petrochemical projects in China and Saudi Arabia.

Saudi Aramco signed an agreement with Sinopec, one of the world's largest energy and petrochemical companies, on the person in charge of the Gulei Greenland Project in Fujian Province. The project plans to include a refinery with a daily output of 320,000 barrels and a petrochemical cracking unit complex with a capacity of 1.5 million tons per year. It is expected to start operation at the end of 2025.

In addition, Saudi Aramco, SABIC and Sinopec signed a memorandum of understanding on December 15 to study the economic and technical feasibility of developing a new petrochemical complex integrated with the existing refinery in Yanbu, Saudi Arabia.

Mohammed Y. Al Qahtani, senior vice president of downstream business of Saudi Aramco, said that these projects provided opportunities for the modernization, efficiency and integration of downstream industries in China and Saudi Arabia. They also reinforce our long-term commitment to continue to be a reliable supplier of energy and chemicals to Asia's largest economy.

These announcements support Saudi Aramco's role as a reliable energy supplier in China, as the company seeks to expand its liquid to chemical capacity to 4 million barrels per day by 2030. This cooperation is also in line with Sinopec's vision of becoming a world leading energy and petrochemical company, providing high-quality products and reliable energy to benefit the lives of people around the world.Editor/Xing Wentao