Saudi Aramco and its joint venture (JV) partners will develop a refinery and petrochemical complex in China to be delivered in 2024, according to a report in the industry publication Offshore Technology.
The downstream project will include a refinery, with a capacity of 300,000 barrels per day (bpd), and an ethylene-based steam cracker, with a capacity of 1.5 million metric tonnes per annum (mmtpa), according to the report.
Called Huajin Aramco Petrochemical Company (HAPCO), the JV includes North Huajin Chemical Industries Group, and Panjin Xincheng Industrial Group. The complex will be built in Panjin City, of the Liaoning province, the refinery and petrochemical project will receive crude oil feedstock of up to 210,000 barrels per day from Aramco.
Much of Saudi Arabia’s oil goes to China. In December 2021, inflows of Saudi Arabian oil to China reached 1.8 million barrels per day (bpd).
“China is a cornerstone of our downstream expansion strategy in Asia, and an increasingly significant driver of global chemical demand,” Aramco downstream senior vice-president Mohammed Al Qahtani said.
