SUBSCRIBE
PROFILE

China: a new large-scale refinery and petrochemical project

Saudi oil giant Aramco and its Chinese partners NORINCO Group and Panjin Xincheng Industrial Group have announced a new refinery and petrochemical project in China.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

A major refining and petrochemical project in China is expected to be completed by 2026. Huajin Aramco Petrochemical Company, a joint subsidiary of Aramco (30%), NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%), is planning to build a refining and petrochemicals complex in the city of Panjin, Liaoning Province, in northeast China. The complex will include a 300,000 barrel per day refinery and a petrochemical plant with an annual production capacity of 1.65 million tons of ethylene and 2 million tons of paraxylene.

Construction of the refining and petrochemical complex project

After obtaining the necessary administrative approvals, construction of the refining and petrochemicals project in China is expected to begin in the second quarter of 2023 and is expected to be fully operational by 2026. Aramco will supply up to 210,000 barrels per day of crude to the new plant, which will be located in the city of Panjin.

Impact on the economy and industry in China

This refining and petrochemical project is important for China as it will support the country’s growing demand for petrochemicals. In addition, it marks a major step in Aramco’s downstream expansion strategy in China and the wider region, which is an increasingly important driver of global petrochemical demand.

For NORINCO Group, this project is a key element in the joint implementation and execution of the Belt and Road Initiative, a global economic development initiative. It will also help strengthen the petroleum and petrochemical industry in China.

For Panjin Xincheng Industrial Group, the project is a symbol of accelerating the development of an important national petrochemical and fine chemical industry base. It is also considered a key project for the promotion of chemicals and specialty products, as well as for the consolidation of the integration of the refining and petrochemical industry.

This integrated refinery and petrochemical project is an example of the economic cooperation between China and Saudi Arabia. It is also an example of Aramco’s downstream development strategy in China and the region. This project is important for the global petrochemical industry and for China’s economic growth.

With this project, Aramco continues to expand and strengthen its position in the global energy and petrochemical markets.

  • Popular on energynews.pro
Brookfield commits $5 billion in strategic partnership with Bloom Energy for AI factories
Mining mergers in Africa: groups strengthen their position on critical metals
Bercy veto blocks ABB’s attempt to acquire Legrand
Cenovus raises offer for MEG Energy to $29.80 per share with new mixed structure
Oversupply pushes natural carbon credit price to 2025 low
Fuel consumption in France rises despite overall oil downturn
In September 2025, French road fuel consumption rose by 3%, driven by a rebound in unleaded fuels, while overall energy petroleum product consumption fell by 1.8% year-on-year.
SIR secures $105.6mn from BOAD for low-sulphur diesel complex
Société Ivoirienne de Raffinage receives major funding to upgrade facilities and produce diesel fuel in line with ECOWAS standards, with commissioning expected by 2029.
Mongolia plans to launch its first oil refinery in 2028 with India’s support
India is funding Mongolia’s first oil refinery through its largest line of credit, with operations scheduled to begin by 2028, according to official sources.
Global energy demand rises by 40 million barrels of oil equivalent per day
Aramco CEO Amin Nasser warns of growing consumption still dominated by hydrocarbons, despite massive global energy transition investments.
China’s crude oil imports rise 3.9% in September
China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.
Unipec redirects supertanker to Ningbo after US sanctions
The New Vista vessel, loaded with Abu Dhabi crude, avoided Rizhao port after the United States sanctioned the oil terminal partly operated by a Sinopec subsidiary.
OPEC maintains demand forecast and lowers expected 2026 deficit
OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.
Croatia targets Russian stake in NIS to maintain oil flows
JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.
Washington targets Iranian oil with new sanctions on phantom fleet
The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.
Les deux Soudans scellent un accord pétrolier malgré l’ombre des milices
Khartoum et Juba annoncent un mécanisme commun pour protéger les oléoducs transfrontaliers, sans clarifier le rôle des forces armées non étatiques qui contrôlent une partie des installations.
Namibia and McDermott join forces to train future oil workforce
The Namibian government signed an agreement with McDermott to strengthen local skills in offshore engineering and operations, aiming to increase oil sector local content to 15% by 2030.
Nigeria inaugurates its first publicly funded floating oil terminal
Nigeria deploys a 2.2 million-barrel floating storage unit funded by public investment, strengthening sovereignty over oil exports and reducing losses from theft and infrastructure failures.
Bill C-5 fuels uncertainty over the future of pipelines in Canada
Despite open statements of dialogue, the federal government maintains an ambiguous regulatory framework that hinders interprovincial oil projects, leaving the industry in doubt.
Sintana Energy acquires Challenger Energy to strengthen offshore assets in Africa
Canada’s Sintana Energy acquires Challenger Energy in a $61mn all-share deal, targeting offshore exploration in Namibia and Uruguay. The move highlights growing consolidation among independent oil exploration firms.
Exxon restarts catalytic cracking unit in Beaumont after technical failure
The 120,000-barrel-per-day catalytic cracking unit at the Beaumont site resumed operations after an unexpected shutdown caused by a technical incident earlier in the week.
Sudan and South Sudan sign agreement to secure oil infrastructure
An agreement was reached between Khartoum and Juba to protect key oil installations, as ongoing armed conflict continues to threaten crude flows vital to both economies.
Algeria signs two oil assessment agreements with Petrogas E&P
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
Chinese refineries cut Iranian crude purchases by 46% in September
Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.
US sanctions hit NIS, a key player in Serbia’s oil market
Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
Chevron appoints former TotalEnergies executive to lead African exploration
US-based Chevron appoints Kevin McLachlan, a veteran of TotalEnergies, as its global head of exploration, in a strategic move targeting Nigeria, Angola and Namibia.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.