Aramco, its Chinese partners sign deals to build refinery

Aramco, its Chinese partners sign deals to build refinery

Local News, Uncategorized















BEIJING / WAM / AGENCIES

Saudi Arabia’s Aramco expressed its intention to be an all-inclusive source of energy and chemicals for China’s long-term energy security and China’s high- quality development.

Amin H Nasser, Aramco President and CEO, told the China Development Forum 2023 that the company is doubling down on China’s energy supply, including new lower carbon products; chemicals; and advanced materials, all supported by emissions reduction technologies.

“In particular, we see a major win-win opportunity to build

a world-leading, integrated downstream sector in China, with special emphasis on the high conversion of liquids directly into chemicals as part of our broader liquid-to-chemicals business expansion plans. Indeed, today we are signing definitive agreements with North Huajin Chemical and Panjin Xincheng to begin construction on a state-of-the-art

integrated refinery and petrochemical complex in Liaoning Province,” he said. “Aramco’s view of the energy future, and the most realistic path to get there, closely aligns with China’s.”

And, like China, he added, “We think in decades not quarters. That is why your long-term energy security and your high-quality development are among our highest priorities, to the horizon and even beyond.”

An initial framework