Aramco, China Petroleum & Chemical Corp. (Sinopec), and Fujian Petrochemical Company Ltd. (FPCL) have launched a new joint venture, Fujian Sinopec Aramco Refining and Petrochemical Co., Ltd, to develop a large-scale integrated refining and petrochemical complex in China’s Fujian province.
The partnership, officially announced at a signing ceremony in Xiamen on 7 September 2025, underscores the long-standing collaboration between the three companies and their shared commitment to strengthening China’s energy security and economic growth. First unveiled in November 2024, the project is expected to be fully operational by the end of 2030.
Speaking at the inauguration, Aramco Downstream President Mohammed Y. Al Qahtani highlighted the company’s strategic ambitions: “This project represents further progress in Aramco’s downstream expansion, which aims to capture additional value through portfolio diversification and integration. We see significant petrochemical demand growth in China, and we are delighted to be an active participant in this key market. The joint venture also strengthens our bonds with Chinese partners, reflecting our shared confidence in China’s future economy and our collective determination to support sustainable growth.”
The planned complex will include a 16 million tpy crude oil refinery (equivalent to 320 000 bpd), a 1.5 million tpy ethylene unit, 2 million tpy of paraxylene and derivatives capacity, and a 300 000 t crude oil terminal.
Under the ownership structure, FPCL, a 50:50 partnership between Sinopec and Fujian Petrochemical Industrial Group Co., will hold a 50% stake, while Aramco and Sinopec will each own 25%.
This project marks the third major manufacturing collaboration between Aramco and Sinopec in China, following the Fujian Refining & Petrochemical Company (FREP) in 2007 and the Sinopec SABIC Tianjing Petrochemical Company (SSTPC) in 2009. It is also their fifth joint venture globally, further extending their cooperation in refining and petrochemicals both within China and internationally.
