Saudi Aramco's first China oil shipment
Saudi Aramco is preparing to initiate operations at a new refinery in China with a production capacity of 300,000 barrels per day in the first quarter of 2027, following the arrival of the first shipment of Saudi crude oil at the refining facility in Liaoning Province. The joint venture, known as HAPCO, includes petrochemical plants producing 1.65 million tons of ethylene and 2 million tons of para-xylene annually. This development comes amid challenges in the global oil market due to the war between the United States and Iran, as well as Chinese measures to mitigate the impact of the crisis. Commercial operations for the refinery are expected to begin in early 2027, amid rising oil demand and reductions in global inventories, with officials warning that stockpiles remain at concerning levels.
Notice: This Is an AI-Generated Summary
Comments (0)