Saudi Aramco and Sinopec Launch $9.8 Billion Refining and Petrochemical Complex in China

 Saudi Aramco and China’s Sinopec have officially launched a $9.8 billion refining and petrochemical complex in Fujian Province, China. The massive project is designed to process 16 million tons of crude oil annually and is expected to significantly boost China’s refining capacity while strengthening the energy partnership between Riyadh and Beijing.

According to the companies, the project is scheduled for completion by 2030, marking a major step in both nations’ efforts to deepen cooperation in the energy and petrochemical sectors. The complex will not only enhance China’s fuel security but also play a vital role in producing advanced petrochemical products for industrial use.

This development comes as both Saudi Arabia and China aim to diversify energy strategies, ensure long-term energy security, and expand global cooperation in petrochemicals and refining industries.