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ExxonMobil Signs Contract for Chinese Cracker JV

11:44 AM MDT | July 24, 2007 | Ian Young

ExxonMobil, Saudi Aramco, and Sinopec have signed a contract for an estimated $3.8-billion refining and petrochemicals joint venture in China. The previously announced jv, dubbed Fujian Refining and Ethylene Joint Venture Project, will upgrade and expand a Sinopec refinery at Quanzhou, China, and build an olefins and derivatives complex at the same site. The contract was signed at a ceremony in Beijing on February 25. Signing up: Officials from Aramco, ExxonMobil, and Sinopec put pen to paper in Beijing. The jv’s steam cracker will have capacity to produce...

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