{"id":91673,"date":"2024-11-19T00:00:00","date_gmt":"2024-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/"},"modified":"2024-11-19T00:00:00","modified_gmt":"2024-11-19T00:00:00","slug":"aramco-sinopec-begin-construction-on-fujian-refinery","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/","title":{"rendered":"Aramco + Sinopec begin construction on Fujian refinery"},"content":{"rendered":"

Aramco + Sinopec break ground on USD 9.82 bn Fujian <\/strong>petrochems<\/strong> complex:<\/strong> Saudi Aramco and China\u2019s state-owned refining giant Sinopec have kicked off construction work at a refinery and petrochemical complex in southeast China\u2019s Fujian province, with operations expected to begin in 2030, according to a press release<\/a>. The new refining hub is estimated to cost USD 9.82 bn, Reuters reports<\/a>. Aramco and Sinopec inked a preliminary agreement<\/a> for the greenfield project back in 2022. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Who owns what: <\/strong>Aramco and Sinopec will each hold a 25% stake in the venture, while Fujian Petrochemical \u2014 a JV between Sinopec and the Fujian government \u2014 will hold the remaining 50%.<\/p>\n

Project profile:<\/strong> The new refining hub is situated in Zhangzhou city\u2019s Gulei industrial park and includes a 320k bbl \/ d refinery, ethylene and paraxylene plants, and a 300k-ton crude oil terminal. Once operational, the facility is expected to supply some 5 mn tons of petrochemical feedstocks a year. The initiative is separate from another USD 6.4 bn Sabic refining complex<\/a> that is also situated in Gulei industrial park, Reuters explained. <\/p>\n

Aramco is doubling down on downstream assets in China: <\/strong>The state-owned oil giant is \u201crecalibrating\u201d its petrochemicals portfolio<\/a> and shifting its focus towards Asia, with the firm pursuing several downstream oil investments in China that look to lock in demand for Saudi crude in the long run. Aramco also sees demand for plastics and other petroleum derivatives growing in Asia and is angling for a larger market share in those markets. Saudi Aramco has set its sights on supplying 1 mn bbl \/ d of crude to China to supply petrochem investments, Aramco's downstream president Mohammed Al Qahtani said. <\/p>\n

Also from Aramco + China:<\/strong> Aramco inked agreements with Rongsheng Petrochemical and Hengli Group in September<\/a>, advancing plans to expand the Saudi Aramco Jubail Refinery with Rongsheng and acquire a 10% stake in Hengli Petrochemical. <\/p>\n","protected":false},"excerpt":{"rendered":"

The refining hub is expected to produce 5 mn tons of petrochem feedstock a year<\/p>\n","protected":false},"author":1,"featured_media":91674,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[139,2425,10,275,138,310],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-aramco","tag-energy","tag-enterpriseam-ksa","tag-fujian","tag-sabic","tag-sinopec","wpautop","entry"],"acf":{"mongo_id":"edaaa0c6-7b1b-4f6f-a3bc-f5fff683f5a9","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1795.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco + Sinopec begin construction on Fujian refinery, operation slated for 2030","related_issue":[91669],"teaser":"The refining hub is expected to produce 5 mn tons of petrochem feedstock a year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.d111ad70-6019-40a9-991a-e0c513ba7065.mp3"},"yoast_head":"\nAramco + Sinopec begin construction on Fujian refinery - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco + Sinopec begin construction on Fujian refinery\" \/>\n<meta property=\"og:description\" content=\"The refining hub is expected to produce 5 mn tons of petrochem feedstock a year\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-19T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Aramco + Sinopec begin construction on Fujian refinery\",\"datePublished\":\"2024-11-19T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\"},\"wordCount\":329,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Aramco\",\"ENERGY\",\"EnterpriseAM KSA\",\"Fujian\",\"SAbic\",\"Sinopec\"],\"articleSection\":[\"ENERGY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\",\"name\":\"Aramco + Sinopec begin construction on Fujian refinery - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-11-19T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Aramco + Sinopec begin construction on Fujian refinery\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Aramco + Sinopec begin construction on Fujian refinery - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/","og_locale":"en_US","og_type":"article","og_title":"Aramco + Sinopec begin construction on Fujian refinery","og_description":"The refining hub is expected to produce 5 mn tons of petrochem feedstock a year","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/","og_site_name":"KSA","article_published_time":"2024-11-19T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Aramco + Sinopec begin construction on Fujian refinery","datePublished":"2024-11-19T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/"},"wordCount":329,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1","keywords":["Aramco","ENERGY","EnterpriseAM KSA","Fujian","SAbic","Sinopec"],"articleSection":["ENERGY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/","name":"Aramco + Sinopec begin construction on Fujian refinery - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1","datePublished":"2024-11-19T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/19\/aramco-sinopec-begin-construction-on-fujian-refinery\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Aramco + Sinopec begin construction on Fujian refinery"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1795.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/91673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=91673"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/91673\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/91669"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/91674"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=91673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=91673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=91673"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=91673"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=91673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}