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Saudi Aramco Agrees to Build Massive Refinery in China
Aramco said it would work with China's North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group to build a massive integrated refinery and petrochemical complex in Panjin, Liaoning Province. The facility will be able to produce 300,000 barrels of oil per day and will have a 1.5 million metric ton-per-year ethylene cracker and a 1.3 million metric ton-per-year paraxylene unit.
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Announcement of the deal follows two related developments. On February 4, Russian state-owned gas firm Rosneft signed a 10-year agreement with China National Petroleum Corp (CNPC) to ship 100 million metric tons, or 200,821 barrels per day of oil to refineries in northwestern China.
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"In accordance with the agreement of Rosneft and CNPC, there are prospects of interaction worked out concerning a set of areas of low carbon development, particularly in reduction of greenhouse gas emissions, including methane, technologies of energy efficiency, as well as CO2 capture and storage (CCS)," Rosneft said.
< wipes tears >
by Cat on Fri Mar 11th, 2022 at 04:24:30 AM EST
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