Saudi Aramco and Its Joint Venture in China to Develop Integrated Refinery and Petrochemical Complex

Saudi Aramco (2222.SE) said on Thursday its joint venture in China will develop a major integrated refinery and petrochemical complex in the northeast of the country.

The project, expected to be operational in 2024, combines a 300,000 barrel-per-day capacity refinery and ethylene-based steam cracker, with Aramco set to supply up to 210,000 barrels a day of crude oil feedstock.

Huajin Aramco Petrochemical Company (HAPCO) is a joint venture between Saudi oil giant Aramco and North Huajin Chemical Industries Group Corporation (000059.SZ) and Panjin Xincheng Industrial Group.

Reporting by Ahmad Elhamy; Editing by Kirsten Donovan