News Snapshot:
Saudi Arabian Oil Co. (Aramco), through its Saudi Aramco Asia Co. Ltd (SAAC) subsidiary, has signed a Memorandum of Understanding (MoU) with China Petroleum & Chemical Corp. (Sinopec) for potential downstream collaboration in China. SAAC and Sinopec also aim to support Fujian Refining and Petrochemical Co., Ltd. (FREP) in conducting a feasibility study into the optimisation and expansion of capacity. This MoU provides a basis for continued downstream collaboration between Aramco and Sinopec, capitalising on each company’s strengths and their long-term relationship through existing joint ventures, namely FREP and Sinopec Senmei (Fujian) Petroleum Co. (SSPC) in China, and Yanbu Aramco...
