Saudi Aramco, China Petroleum & Chemical Corporation (SINOPEC), and Fujian Petrochemical Company Limited (FPCL) have commenced construction of a new large-scale refining and petrochemical complex in Fujian Province, China. The project aims to establish a state-of-the-art facility with an annual refining capacity of 16 million tons of crude oil (equivalent to 320,000 barrels per day), an ethylene production capacity of 1.5 million tons per year, and the ability to produce two million tons of paraxylene along with other downstream derivatives.
The site will also feature a 300,000-ton crude oil terminal to support operations. FPCL, a joint venture equally owned by SINOPEC and Fujian Petrochemical Industrial Group Company, will hold a 50% ownership in the new facility, with Aramco and SINOPEC each holding a 25% stake. The project is anticipated to be fully operational by the end of 2030.
Expanding Global Partnerships
Commenting on the development, Mohammed Y. Al Qahtani, Aramco’s Downstream President, stated, “This milestone builds on our strong collaboration with SINOPEC and Fujian Petrochemical. We are excited to further expand our downstream presence in China by supplying over one million barrels of crude oil per day to this high-conversion facility. This aligns with Aramco’s strategy to support global petrochemical demand and reinforce our role as a dependable partner in China’s energy transition.”
SINOPEC Chairman Ma Yongsheng highlighted the significance of the partnership, saying, “This collaboration underscores the shared commitment of SINOPEC and Aramco to advancing the petroleum and petrochemical sectors. Aramco’s involvement ensures a steady, competitive feedstock supply, further supporting the growth of the Gulei Petrochemical Base and strengthening the China-Saudi strategic relationship.”
A global energy and chemical leader, SINOPEC is dedicated to advancing high-quality development in the energy sector while aligning with China’s dual circulation strategy. FPCL is a key player in China’s refining and petrochemical industry, contributing to regional economic growth and innovation.This project marks a significant step in advancing energy infrastructure and promoting sustainable industrial development within the framework of international cooperation.
As one of the world’s leading integrated energy companies, Aramco focuses on producing reliable and sustainable energy resources to meet global demand. Its investments in innovation and technology underscore its role in fostering stability and growth.
