Aramco, PetroChina Plan 200,000 Barrel Oil Refinery in China
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Saudi Aramco and China National Petroleum Corp. agreed to build a 200,000 barrel-a-day refinery in southern China as producers seek to meet rising fuel demand in the world’s fastest-growing major economy.
The state oil company of Saudi Arabia signed a memorandum of understanding on March 17 with CNPC unit PetroChina to build the facility in China’s Yunnan province, Aramco said in a statement on its website today. It’s the second refinery partnership Aramco has announced with a Chinese company in a week.