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Multi-billion Refinery To Be Constructed

ExxonMobil, Aramco and China Petroleum & Chemical Corp. plan to expand...

Multi-billion Refinery To Be Constructed

US oil and gas Exxon Mobil, and Saudi Arabian state company Aramco started engineering work on a refinery of a $3.5 billion worth in China, Saudi Aramco?s senior vice president of refining and oil marketing informed.

Talking about the operations launched, Abdulaziz al-Khayyal said that the company expect to sign a final joint venture agreement by next year.

ExxonMobil, Aramco and China Petroleum & Chemical Corp. plan to expand the refinery to process 240,000 barrels of oil a day from 80,000 barrels a day. The American firm and its partners are also building chemical plants, including an 800,000-ton-a-year ethylene plant among other chemical units.

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