FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq © Thomson Reuters
OilPrice.com: Saudi Aramco To Build $10 Billion Refinery And Petrochemical Complex In China
* Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China in order to take advantage of the country’s growing fuel and chemical demand.
* The complex is set to have a capacity of 300,000 barrels of crude per day, with Saudi Aramco supplying 201,000 barrels per day.
* The project is scheduled for completion in 2026 and is part of a larger Saudi Aramco strategy to secure long-term demand for its oil.
Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China over the next three years, taking advantage of the country’s growing demand for energy.
The complex will have a capacity of 300,000 barrels of crude daily, Aramco said in a news release. The Saudi major will supply 201,000 barrels per day to the facility.
The project will be carried out in partnership between Aramco and two Chinese companies. Construction works should begin in the second half of this year, with the project scheduled for completion in 2026.
Read more ....
Update #1: Saudi Aramco to invest billions in Chinese petrochemicals (AP)
Update #2: Saudi Aramco boosts China investment with two refinery deals (Reuters)
WNU editor: More evidence on the growing relationship between China and Saudi Arabia.
8 comments:
Here in Alberta, the common Mega project that we all looked forward to was between three and five billion CAD. Haven’t seen one in many years now. A ten billion USD project is just huge, that’s one hell of a project and will come with future expansions, maintenance requirements, and a hell of a continuous tax injection into the Chinese economy. I argue with my centrist friend for hours every week, pro Ukrainian SOB. We will be living like the Soviet civilian did within the next decade, maybe even worse considering the demographic and number of firearms in circulation. The future is bleak indeed for the west.
Way to go Democrats! Keep on destroying!
keep badmouthing Dems but Trumpians are losing losing losing and will soon lose again. They have kept a core but lost the independent voters.
English professor et card carrying Democrat: “I think it is far more admirable to k*ll a racist, homophobic, or transphobic speaker than it is to shout them down,”
Democrat Motto: "If you can't persuade, liquidate"
"Steven Shaviro, a professor in Wayne State University's English department, was suspended without pay after he made a Facebook post that encouraged people to kill their political opponents instead of merely protest them."
I use to believe Shapiro was an Italian name. Why is it when Queer theory comes to a school, it first takes root in the English Department? Do English professor think they do not have enough to teach? Is their work not important, so they have to add more?
1:23 Don't know about that, but I'm sure the future will be bleak in Alberta
Well if you don’t know, then what are you yapping for? I do know as I work in the industry. And reality to you major Tom, we are headed into an energy conflict and shortage and that is good news for energy rich Alberta.
Alexander Beyer hard at work
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