Sinopec, Saudi Aramco, and ExxonMobil Inaugurate Fujian Petchems Complex

Sinopec and its partners Saudi Aramco and ExxonMobil have held an inauguration ceremony for their Fujian Refining and Petrochemicals Co. joint venture complex at Quanzhou, China. Sinopec, through its Fujian Petrochemicals Co. subsidiary, holds 50% share in the jv; Aramco and ExxonMobil Chemical have 25% each. The partners have invested more than $4.5 billion in the complex, which tripled the capacity of the existing refinery to 240,000 bbl/day to produce transportation fuels and other refined products. The petrochemical complex is designed to produce 800,000...

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