A ground-breaking ceremony took place today for a major integrated refinery and petrochemical complex being developed by Huajin Aramco Petrochemical Company (Hapco).
Saudi state oil giant Aramco has broken ground on its integrated refinery and petrochemical complex being developed in China’s Liaoning Province. This comes in line with the Saudi group s strategy to convert 4 million bpd of crude to chemicals by 2030.
Aramco, one of the world’s leading integrated energy and chemicals companies, will expand its downstream presence in China by acquiring 10% stake in Rongsheng Petrochemical for $3.6 billion, the Saudi company has said.