Aramco, Shandong Energy sign agreement – GulfToday – Gulf Today

Aramco, Shandong Energy sign agreement – GulfToday – Gulf Today

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The Saudi Arabian Oil Company (Aramco) and Shandong Energy Group, are exploring collaboration on integrated refining and petrochemical opportunities in China.

The companies have signed a Memorandum of Understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement, supporting Aramco’s role in building a thriving downstream sector in Shandong Province.

The signing ceremony, which was conducted with the participation of Shandong Provincial People’s Government, underlined the importance of Aramco’s collaboration with Chinese companies. The scope of the MoU extends to cooperation across technologies related to hydrogen, renewables and carbon capture and storage.

Mohammed Y. Al Qahtani, Aramco Senior Vice President of Downstream, said: “Through collaborations such as this in China’s energy heartland, we are creating new pathways for growth in a country that is driving the increased integration of refining and petrochemical processes. I am delighted that