On April 8, 2025, on the occasion of the 10th anniversary of the establishment of the Yanbu Refinery Joint Venture, Sinopec and Saudi Aramco signed the "Yanbu Refinery Expansion Project Cooperation Framework Agreement". Zhao Dong, General Manager of Sinopec, and Amin Nasser, President and CEO of Saudi Aramco, jointly witnessed the signing of the agreement.

This project will rely on existing facilities to build a new 1.8 million tons/year ethylene and 1.5 million tons/year aromatic hydrocarbon plant, as well as a supporting downstream polyolefin plant, maximizing the synergistic effect of refining and chemical integration, and creating an innovative ecosystem for the entire industry chain.

After being put into operation, the project will effectively enhance the production capacity of high-end petrochemical products, promote the diversified development of Saudi Arabia's industry, and meet global market demand.

Zhao Dong, General Manager of Sinopec, stated that the Yanbu Refinery, as a model project of energy cooperation between China and Saudi Arabia, has not only injected strong impetus into the local economy of Saudi Arabia since its commissioning, but also made positive contributions to promoting the upgrading of the petrochemical industry.

The cooperation of this expansion project marks a deeper and broader level of cooperation between both parties.

We will further unleash the potential for cooperation between both sides, promote the reshaping of traditional energy cooperation models, expand new space for sustainable development, and jointly create a world-class integrated refining and chemical enterprise with comprehensive competitive advantages, to assist in the global energy transformation. Saudi Aramco President and CEO Amin Nasser stated that the cooperation framework agreement for the Yanbu refinery expansion project further deepens and enhances our strategic partnership with Sinopec. The planned expansion project consolidates our commitment to product innovation and diversification. We look forward to strengthening cooperation with Sinopec to make Yanbu Refinery a leading integrated refining and chemical enterprise. Meanwhile, our goal is to help strengthen Saudi Arabia's position as a global leader in the energy and chemical sectors. Yanbu Refinery is a world leading refinery jointly built by Sinopec and Saudi Aramco, and also an important practice of the the Belt and Road Initiative and Saudi Arabia's "Vision 2030".

The project covers an area of approximately 5.2 million square meters and is located in Yanbu Industrial City, Saudi Arabia. It is an important benchmark enterprise in the region. Yanbu Refinery processes 430000 barrels of Saudi heavy crude oil per day, producing finished oil and high value-added products to supply the global market.

Sinopec is a joint-stock company that integrates upstream, midstream, and downstream operations in the oil and gas industry, and is listed both domestically and internationally. Its controlling parent company, Sinopec Group, is the world's largest refining company and second largest chemical company, and has been ranked among the top 5 Fortune Global 500 companies for many years. Saudi Aramco is one of the world's leading integrated energy and chemical companies, committed to creating influence in everything they do, from providing critical oil supplies to developing new energy technologies. The company focuses on making resources more reliable, sustainable, and useful, helping to drive global development and productivity improvement. Editor/Zhao E