Aramco JV HAPCO Begins Construction Of Major Refinery And Petrochemical Complex In China

• Greenfield project including a 300,000 bpd refinery and 1.65 million tonnes of steam cracker
• Aramco will supply up to 210,000 barrels of crude oil per day to the project
• The integrated refining and petrochemicals complex is expected to be fully operational by 2026
• Resort located in Panjin City, Liaoning Province , northeast China

Dhahran /PRNewswire/ - Aramco and its partners NORINCO Group and Panjin Xincheng Industrial Group plan to begin construction of a large integrated petrochemical and refinery complex in northeast China.

Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco (30%), NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%), is developing the complex which will combine a refinery producing 300,000 barrels per day and a petrochemical plant with an annual production capacity of 1.65 million tons of ethylene and 2 million tons of paraxylene.

Construction work is expected to begin in the second quarter of 2023 after the project has obtained the required administrative approvals. The site is expected to be fully operational by the end of 2026.

Aramco will supply up to 210,000 bpd of crude oil to the complex, which is being built in the city of Panjin in China's Liaoning province .

Mohammed Y. Al Qahtani, Executive Vice President of Aramco, said, “This important project will support China's growing demand for fuels and chemicals. It also represents an important step in our downstream expansion strategy, in China and in the region. This is an increasingly important driver of global demand for petrochemicals.”

Zou Wenchao, Deputy General Manager of NORINCO Group, said, "This large-scale petrochemical and refinery complex is a key project of NORINCO Group to implement and realize the joint development of the Belt and Road Initiative. , promote industrial restructuring and strengthen, improve and develop the petroleum and petrochemical sector. He will play an important role in strengthening economic and trade cooperation between China and Saudi Arabia, as well as achieving common development and prosperity.”

Jia Fei, Chairman of the Board of Panjin Xincheng, said, "The project is of great importance to Panjin and aims to promote the increase of chemicals and specialty products, strengthening the integration of refining and chemical industry. This is a symbolic project for Panjin which seeks to accelerate the development of an important domestic petrochemical and fine chemical industry base.”

About Aramco
Aramco is an integrated global energy and chemicals company. We are driven by the intimate conviction that energy is an opportunity. From producing approximately one in eight barrels of the world's oil supply to developing new energy technologies, Aramco's global team is dedicated to creating impact in everything she accomplishes. It also strives to make its resources more reliable, more durable and more useful. This approach encourages long-term stability and growth around the world. www.aramco.com

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