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Increase Aramco's customer base and develop refining
The visit of Prince Mohammed bin Salman to China, which began on Thursday, should allow Aramco to realize a project prior to the acquisition of a minority stake in the Zhejiang oil complex, created by the Zhejiang control group Rongxing, "Zhejiang" in East China, what size of Saudi oil exports to China? What is the feasibility of Saudi participation in this refinery? How much do they share?
In November, Aramco signed five new oil supply contracts with Chinese customers, bringing the total volume of supply contracts to China in 2019 to 1.67 million barrels per day. Saudi Arabia aims to expand its oil refining business in China through major joint ventures in refining, marketing and petrochemicals. Aramco is seeking to acquire an interest in the refinery and Zhejiang Petrochemicals complex.
Saudi Arabia's share in the refinery and the complex amounts to 9% according to the agreement protocol signed by Aramco with the government of Zhejiang Province in October, but the company plans to strengthen, during the Crown Prince's visit, his market share in the Zhejiang Refinery by signing supply agreements A Chinese non-governmental refining company announced that the refinery would process 400,000 barrels of crude oil per day .
On the feasibility of Saudi Arabia's participation in the construction of the refinery, Saudi Aramco's senior vice president of refining, processing and marketing, Abdul Aziz Al-Qadimi, said his participation in the Refinery was helping to increase Aramco's customer base, focusing on Chinese markets. The world's most successful exploration and refining operations and the company's strategy to strengthen its resource base through increased horizontal and vertical integration across the hydrocarbon value chain.
Visit of the Crown Prince to the People's Republic of China
Crown Prince of China
Prince Mohammed bin Salman Tour
Crown Tower
Process 400,000 barrels of oil a day. Why is Saudi Arabia involved in the construction of the refinery in China?
Mohamed Sobh
previously
2019-02-21
The visit of Prince Mohammed bin Salman to China, which began on Thursday, should allow Aramco to realize a project prior to the acquisition of a minority stake in the Zhejiang oil complex, created by the Zhejiang control group Rongxing, "Zhejiang" in East China, what size of Saudi oil exports to China? What is the feasibility of Saudi participation in this refinery? How much do they share?
In November, Aramco signed five new oil supply contracts with Chinese customers, bringing the total volume of supply contracts to China in 2019 to 1.67 million barrels per day. Saudi Arabia aims to expand its oil refining business in China through major joint ventures in refining, marketing and petrochemicals. Aramco is seeking to acquire an interest in the refinery and Zhejiang Petrochemicals complex.
Saudi Arabia's share in the refinery and the complex amounts to 9% according to the agreement protocol signed by Aramco with the government of Zhejiang Province in October, but the company plans to strengthen, during the Crown Prince's visit, his market share in the Zhejiang Refinery by signing supply agreements A Chinese non-governmental refining company announced that the refinery would process 400,000 barrels of crude oil per day .
On the feasibility of Saudi Arabia's participation in the construction of the refinery, Saudi Aramco's senior vice president of refining, processing and marketing, Abdul Aziz Al-Qadimi, said his participation in the Refinery was helping to increase Aramco's customer base, focusing on Chinese markets. The world's most successful exploration and refining operations and the company's strategy to strengthen its resource base through increased horizontal and vertical integration across the hydrocarbon value chain.
February 21, 2019 – Jumada Al-Akhirah 1440
The time now is 06:27 PM
February 22, 2019 – Jumada Al-Akhirah 1440
The time now is 08:48
Increase Aramco's customer base and develop refining
The visit of Prince Mohammed bin Salman to China, which began on Thursday, should allow Aramco to realize a project prior to the acquisition of a minority stake in the Zhejiang oil complex, created by the Zhejiang control group Rongxing, "Zhejiang" in East China, what size of Saudi oil exports to China? What is the feasibility of Saudi participation in this refinery? How much do they share?
In November, Aramco signed five new oil supply contracts with Chinese customers, bringing the total volume of supply contracts to China in 2019 to 1.67 million barrels per day. Saudi Arabia aims to expand its oil refining business in China through major joint ventures in refining, marketing and petrochemicals. Aramco is seeking to acquire an interest in the refinery and Zhejiang Petrochemicals complex.
Saudi Arabia's share in the refinery and the complex amounts to 9% according to the agreement protocol signed by Aramco with the government of Zhejiang Province in October, but the company plans to strengthen, during the Crown Prince's visit, his market share in the Zhejiang Refinery by signing supply agreements A Chinese non-governmental refining company announced that the refinery would process 400,000 barrels of crude oil per day .
On the feasibility of Saudi Arabia's participation in the construction of the refinery, Saudi Aramco's senior vice president of refining, processing and marketing, Abdul Aziz Al-Qadimi, said his participation in the Refinery was helping to increase Aramco's customer base, focusing on Chinese markets. The world's most successful exploration and refining operations and the company's strategy to strengthen its resource base through increased horizontal and vertical integration across the hydrocarbon value chain.
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