Sino Petroleum and Chemical Corporation and Saudi Aramco signed a cooperation framework agreement on the Fujian Gulei Phase II project on the 10th. The second phase of project plans to build 16 million tons/year oil refining, 1.5 million tons/year ethylene cracking and downstream derivative integrated device , which is expected to be completed and put into production by the end of 2025.
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At the same time, Sinopec, Saudi Aramco, Saudi Basic Industrial Company signed a memorandum of understanding on cooperation. plans to jointly develop a large-scale project in Yanbu, Saudi Arabia to convert liquid raw materials into chemical products. The project will achieve collaborative optimization with Yanbu refinery.
, President of Sinopec Co., Ltd., Yu Baocai, said that this cooperation is a new milestone achieved on the basis of existing cooperation, fully demonstrating the high degree of mutual trust and mutual recognition of all parties, and strengthening confidence in jointly responding to energy transformation.
Saudi Aramco is a global integrated energy and chemicals company. It is one of the largest oil companies in the world with employees all over the world. Saudi Basic Industries is one of the world's leading diversified chemical companies. It is headquartered in Riyadh, Saudi Arabia. Its manufacturing plants are all over the world, covering chemicals, general-purpose and high-performance plastics.
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Article source: Xinhua News Agency
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