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RIYADH: Saudi oil giant Aramco has made the final decision to invest in a major integrated refining and petrochemical complex in northeast China.

The greenfield project includes refining capacity of 300,000 barrels per day and petrochemical units, according to a statement.

Built in the city of Panjin in China’s Liaoning Province, the facility will help meet the country’s growing demand for energy and chemical products.


Start date

The plant is expected to come on stream in 2024, with Aramco supplying up to 210,000 bpd of crude oil feedstock

Huajin Aramco Petrochemical Co., a joint venture between Aramco, North Huajin Chemical Industries Group Corp. and Panjin Xincheng Industrial Group, will develop the liquid-to-chemical complex.

Scheduled to enter service in 2024, Aramco will supply up to 210,000 bpd of crude oil feedstock to the complex, it said in a statement.

“China is a cornerstone of our downstream expansion strategy in Asia and an increasingly important driver of global demand for chemicals,” said Aramco’s senior vice president of downstream.

“Continued energy security remains a shared priority, and this partnership represents another major step in our journey together,” added Mohammed Al Qahtani.