Sinopec, Aramco start building petrochemical complex in China's Fujian

Reuters11-18

SINGAPORE, Nov 18 (Reuters) - Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China's Fujian province.

The new venture includes a 16 million metric ton-per-year (tpy), or 320,000 barrels per day refinery, a 1.5 million tpy ethylene plant, a 2 million paraxylene facility as well as a 300,000 tonnage crude oil terminal, Sinopec said in a statement.

Fujian Petrochemical - a joint venture between Sinopec and the Fujian government - will hold a 50% stake in the venture, and Saudi Aramco and Sinopec will each own 25%, Sinopec said.

The project is slated to become operational in 2030, and once in production, it will be able to supply 5 million tons of petrochemical feedstocks annually.

Sinopec did not provide details on the investment value of the project.

Sinopec and Aramco signed a preliminary agreement to build the complex two years ago.

(Reporting by Chen Aizhu; Editing by Sonia Cheema)

((aizhu.chen@thomsonreuters.com; Reuters Messaging: aizhu.chen.reuters.com@reuters.net))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2484690450?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-18 14:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2484690450","market":"fut","top_or_hot":-1,"title":"Sinopec, Aramco start building petrochemical complex in China's Fujian","media":"Reuters","content":"<html><body><p>SINGAPORE, Nov 18 (Reuters) - Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China's Fujian province.   </p><p>   The new venture includes a 16 million metric ton-per-year (tpy), or 320,000 barrels per day refinery, a 1.5 million tpy ethylene plant, a 2 million paraxylene facility as well as a 300,000 tonnage crude oil terminal, Sinopec said in a statement.</p><p>   Fujian Petrochemical - a joint venture between Sinopec and the Fujian government - will hold a 50% stake in the venture, and Saudi Aramco and Sinopec will each own 25%, Sinopec said. </p><p>   The project is slated to become operational in 2030, and once in production, it will be able to supply 5 million tons of petrochemical feedstocks annually. </p><p>   Sinopec did not provide details on the investment value of the project. </p><p>   Sinopec and Aramco signed a preliminary agreement to build the complex two years ago.   </p><p> (Reporting by Chen Aizhu; Editing by Sonia Cheema)</p><p>((aizhu.chen@thomsonreuters.com; Reuters Messaging: aizhu.chen.reuters.com@reuters.net))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sinopec, Aramco start building petrochemical complex in China's Fujian</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSinopec, Aramco start building petrochemical complex in China's Fujian\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-18 14:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE, Nov 18 (Reuters) - Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China's Fujian province.      ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0828237940.HKD","symbol_name":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2484690450","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484690450","pubTimestamp":1731910151,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"SINGAPORE, Nov 18 (Reuters) - Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China's Fujian province.      Th","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU0823426480.USD":"法巴中国股票经典Dis","BK1521":"挪威政府全球养老基金持仓","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU0173614495.USD":"富达中国焦点A","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","BK1562":"石化股","BK1528":"石油股票概念","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","BK1226":"综合性石油与天然气企业","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0823426308.USD":"法巴中国股票基金","LU0359201612.USD":"贝莱德中国基金A2","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","00386":"中国石油化工股份","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC"},"translate_title":"中石化、沙特阿美开始在中国福建建设石化联合体","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00386":0.9},"content_text":"SINGAPORE, Nov 18 (Reuters) - Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China's Fujian province.      The new venture includes a 16 million metric ton-per-year (tpy), or 320,000 barrels per day refinery, a 1.5 million tpy ethylene plant, a 2 million paraxylene facility as well as a 300,000 tonnage crude oil terminal, Sinopec said in a statement.   Fujian Petrochemical - a joint venture between Sinopec and the Fujian government - will hold a 50% stake in the venture, and Saudi Aramco and Sinopec will each own 25%, Sinopec said.    The project is slated to become operational in 2030, and once in production, it will be able to supply 5 million tons of petrochemical feedstocks annually.    Sinopec did not provide details on the investment value of the project.    Sinopec and Aramco signed a preliminary agreement to build the complex two years ago.    (Reporting by Chen Aizhu; Editing by Sonia Cheema)((aizhu.chen@thomsonreuters.com; Reuters Messaging: aizhu.chen.reuters.com@reuters.net))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484690450"}