Sinopec Signs Refining, Chemical Deals with Saudi Arabia Firms
The Sinopec Zhenhai Refining & Chemical Co. processing facility in Ningbo, Zhejiang Province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Sinopec has signed a framework agreement with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project and 1.5 million-ton-year ethylene units in Gulei, Fujian.
The project is expected to be completed and operating by the end of 2025, according to a press release by Sinopec. The Chinese company also signed MOUs with Saudi Aramco and Sabic to build a liquids-to-petrochemical facility in Yanbu, Saudi Arabia.