Saudi Aramco to join $5b projects in China

Officials at Saudi Aramco said that two joint ventures, with a total investment of about $5 billion, the first fully integrated refining, petrochemicals and fuels marketing project with foreign participation in China, are to come on stream by early 2009.

The Fujian refining and ethylene joint venture project, located in Quanzhou, will expand the existing refinery from 80,000 barrels per day (bpd) to 240,000 bpd. The upgraded refinery will primarily refine and process sour Arabian crude.

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