December 09, 2022 08:37 GMT
Saudi Aramco, Shandong Energy Sign MoU On Downstream Projects
Saudi Aramco and Shandong Energy Group are exploring the collaboration on integrated refining and petrochemical opportunities in China.
- The agreement includes a potential crude oil supply agreement and chemicals product offtake agreement to support the downstream sector in Shandong Province.
- The agreement strengthens Aramco’s efforts to support demand for energy, petrochemicals and non-metallics in China as the company seeks to expand its liquids to chemicals capacity to up to 4mbpd by 2030.
- China and Saudi Arabia have signed a raft of agreements and memoranda of understanding as part of the multi-day visit by Chinese President Xi Jinping to Saudi Arabia.