Fujian: Aramco, a leading global energy and chemicals company, China Petroleum and Chemical Corporation (SINOPEC), and Fujian Petrochemical Company Limited (FPCL) have commenced construction on a new integrated refining and petrochemical complex in Fujian Province, China. According to Saudi Press Agency, the facility is designed to include a 16 million tons-per-year oil refining unit, a 1.5 million tons-per-year ethylene unit, a two million tons per year paraxylene and downstream derivatives capacity, and a 300,000 tons crude oil terminal. FPCL, a joint venture between SINOPEC and Fujian Petrochemical Industrial Group Company, will own a 50% stake in the complex, while Aramco and SINOPEC will each hold a 25% stake. The project is anticipated to become fully operational by the end of 2030. Aramco Downstream President Mohammed Y. Al-Qahtani emphasized the significance of the groundbreaking, stating that it expands Aramco's downstream investment portfolio in China and supports the company's liquids-to-chemica ls strategy. Aramco plans to supply over one million barrels per day of crude oil to these assets in China, enhancing its role as a reliable partner in China's development and addressing global petrochemicals demand. SINOPEC Chairman Ma Yongsheng highlighted the commitment of both SINOPEC and Aramco to the development of the petroleum and petrochemical industry. He noted that Aramco's involvement ensures a long-term supply of competitive feedstock, contributing to the growth of the Gulei Petrochemical Base. This collaboration represents a milestone in the China-Saudi strategic partnership, aligning with China's dual circulation strategy.
Coalition Forces Intercept Houthi-Launched UAV in Makkah Region
October 30, 2026