Sinopec, Aramco sign agreement for Yanbu Refinery expansion in Saudi Arabia
China Petroleum & Chemical Corporation (Sinopec) and the Saudi Arabian Oil Company (Aramco) have signed a venture framework agreement to expand the Yanbu Refinery in Saudi Arabia.
The expansion, which will include a large-scale, mixed-feed steam cracker and aromatics plant, is aimed at enhancing the refinery's integration and supporting Saudi Arabia's industrial diversification strategy.
The project will leverage existing facilities to construct new units including a 1.8 million tonnes per annum (mtpa) ethylene plant and a 1.5mtpa aromatics plant with associated downstream polyolefin units.
This development aims to foster an innovative, full-industry-chain ecosystem and meet growing global market demand.
Aramco president and CEO Amin H. Nasser said: "The Yanbu expansion agreement deepens Aramco's strategic partnership with Sinopec. By prioritising product innovation and diversification, we aim to reinforce Saudi Arabia's leadership in the global energy and chemicals landscape while positioning Yanbu as a premier integrated refining and petrochemical hub."
The Yanbu Refinery in Yanbu Industrial City processes 430,000 barrels per day of Saudi heavy crude oil. It produces high-quality refined products and value-added chemicals for global markets.
The expansion is expected to significantly boost production capacity for high-end petrochemical products.
Sinopec Group president Zhao Dong said: "The Yanbu Refinery stands as a testament to the strong friendship between China and Saudi Arabia, delivering robust economic benefits and advancing the petrochemical industry's modernisation.
"This expansion will unlock greater synergies between Sinopec and Aramco, creating a world-leading integrated refining and petrochemical enterprise with global competitiveness. Together, we will contribute to a low-carbon energy transition."
The expansion project combines technological innovation and industrial chain optimisation to upgrade traditional energy cooperation models and explore sustainable development pathways.
The project will integrate new ethylene, aromatics and polyolefin units with existing infrastructure, elevating the complex's refining-petrochemical integration capabilities.
It will also incorporate advanced technologies and green innovations to support Saudi Arabia's economic diversification and decarbonisation goals.
Additionally, NextDecade recently executed a 20-year liquefied natural gas (LNG) sale and purchase agreement with a subsidiary of Aramco.
The agreement involves the purchase of 1.2mtpa of LNG from Train 4 at the Rio Grande LNG facility in Texas, US, contingent on a positive final investment decision for Train 4.
"Sinopec, Aramco sign agreement for Yanbu Refinery expansion in Saudi Arabia" was originally created and published by Offshore Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 hours ago
- Yahoo
USTR eases proposed penalties, fees for non-US LNG tankers, vehicle carriers
By Lisa Baertlein LOS ANGELES (Reuters) -The U.S. Trade Representative softened fee proposals for non-U.S.-built LNG tankers and car carriers amid its ongoing effort to counter China's dominance on the high seas and revive domestic shipbuilding. The revised proposal, unveiled by USTR on Friday, would remove LNG-related penalties for failing to export a percentage of fuel on U.S.-owned ships. It also would reduce fees when foreign-built car carriers visit domestic ports and exempt those vessels when they are serving the U.S. military. USTR previously exempted ships carrying U.S. exports as well as operators of smaller ships from port fees originally aimed at China-linked vessels. The agency also exempted vessels that service the Great Lakes, Caribbean and U.S. territories. "This is a step in the right direction, and we look forward to working with USTR on a solution that ensures U.S. LNG remains competitive on the global stage," Rob Jennings, vice president of natural gas markets for the American Petroleum Institute, said on Monday. USTR caught the liquified natural gas industry off guard in April with new rules for outbound shipments of that fuel, sparking an outcry. It also surprised the vehicle carrier industry with a plan to impose port fees on all non-U.S.-built vessels in that segment - including U.S.-flagged and U.S.-crewed ships admitted to the U.S. Maritime Security Program (MSP) that supports Washington's military readiness. USTR on Friday removed language saying it could suspend LNG export licenses until its rules for moving a percentage of outgoing shipments on U.S.-built and operated vessels were met. On April 17, USTR said LNG producers would have to transport 1% of their exports on U.S.-built ships starting in April 2029. That percentage would escalate to 15% in April 2047 and beyond. The World Shipping Council, whose members vehicle carriers such as Norway's Wallenius Wilhelmsen, did not immediately comment on the revisions. The vehicle carrier fee effective October 14 was to be $150 per car capacity of a non-U.S.-built ship known as roll-on/roll-offs, or RoRos. Typical RoRos have capacity to carry nearly 5,000 vehicles. In the revision, USTR lowered that fee to $14 per net ton. It also exempted vessels in the MSP, as well as U.S. government cargo - matching previous exemptions made for other vessel segments. Companies with ships in the MSP include Florida-based American Roll-On, Roll-Off Carrier Group, a U.S.-flag operator of vehicle carriers that is part of Wallenius Wilhelmsen Group, which did not immediately comment. The RoRo fees come on top of steep, 25% fees on auto imports imposed by Trump. These affect mainly European vehicles. U.S. exporters also use RoRos to export U.S.-made BMW SUVs, John Deere tractors and other goods. Shipping industry groups and attorneys have said USTR overreached by levying fees on RoRos made in countries that were not part of the Biden administration's fast-track investigation into China. The USTR's revisions continued to reference "non-U.S. built" vehicle carriers. Interested parties, which were not previously given the opportunity to comment on rules for RoRos or LNG tankers, have until July 7 to submit feedback on the revisions. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Yahoo
Saudi Arabia Fruit & Vegetables Processing Market Report 2025: Competition, Forecast & Opportunities 2020-2030 - Robert Bosch and Bühler Lead with Innovative Solutions
The Saudi Arabia Fruit & Vegetables Processing Market offers growth opportunities driven by increasing demand for convenient, nutritious foods among an urbanizing population. Technological advancements in processing enhance product quality and shelf life, aligning with Vision 2030's focus on sustainability and innovation. Saudi Arabian Fruit & Vegetables Processing Market Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Fruit & Vegetables Processing Market by Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia Fruit & Vegetables Processing Market was valued at USD 724.56 Million in 2024 and is projected to reach USD 1.13 Billion by 2030, rising at a CAGR of 7.76% This growth is fueled by increasing demand for convenient and nutritious food products, supported by a growing urban population and rising health awareness. As consumers seek ready-to-eat and minimally processed options, the market benefits from advancements in technologies such as freeze-drying, vacuum sealing, and canning, which enhance product shelf life and nutritional retention. The government's support for domestic agriculture and food processing under Vision 2030, along with enhanced logistics infrastructure, is creating favorable conditions for both local manufacturers and foreign investors. These developments are expanding the product portfolio and improving access to processed fruits and vegetables across the Kingdom. Technological Innovation in Processing Methods The adoption of modern processing technologies is significantly driving the fruit and vegetable processing market in Saudi Arabia. Automation, robotics, and AI are transforming production by improving efficiency, reducing manual labor, and increasing output quality. IoT-enabled systems allow for real-time monitoring and predictive maintenance, reducing downtime and operational costs. Innovations such as cold chain systems help preserve freshness, extending product shelf life and meeting the demand for convenient, high-quality foods. Furthermore, smart packaging solutions that include QR codes and RFID tags offer better traceability and product transparency. These technological developments align with Saudi Arabia's Vision 2030, emphasizing sustainability, innovation, and food security within the processing sector. Supply Chain Disruptions The Saudi fruit and vegetable processing industry faces considerable challenges due to supply chain vulnerabilities. Heavy reliance on imported raw materials makes the sector sensitive to international trade disruptions, pricing instability, and shipping delays. Domestic production is subject to seasonal fluctuations, affecting raw material availability and production continuity. Inadequate cold chain logistics and infrastructure gaps exacerbate spoilage risks and impact product quality. The COVID-19 pandemic further exposed weaknesses in labor availability and transportation systems. Addressing these challenges requires investment in robust logistics networks, improved cold chain systems, and diversification of sourcing to ensure stability and support market growth. Cold Chain Infrastructure Investment Investments in cold chain infrastructure are emerging as a vital trend supporting the growth of Saudi Arabia's fruit and vegetable processing market. With an increasing focus on food security and minimizing post-harvest losses, the Kingdom is developing advanced temperature-controlled storage and transport systems. These facilities help retain freshness, improve shelf life, and reduce waste - key factors in meeting the rising consumer demand for fresh and convenient foods. Strategic enhancements in major logistics hubs like Riyadh and Jeddah have boosted distribution efficiency. Integration of automation and real-time tracking technologies is further streamlining supply chains, lowering operational costs, and enhancing delivery reliability. This trend is expected to continue as the retail sector evolves and consumer preferences shift toward processed yet high-quality food offerings. Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $724.56 Million Forecasted Market Value (USD) by 2030 $1130 Million Compound Annual Growth Rate 7.7% Regions Covered Saudi Arabia Report Scope Key Players Profiled Robert Bosch GmbH Buhler AG JBT Marel Corporation KRONEN GmbH Alfa Laval Neologic Engineers Private Limited Kronitek Allround Vegetable Processing B.V. CFT S.p.A. Total Food Machines Limited Saudi Arabia Fruit & Vegetables Processing Market, by Type: Pre-Processing Equipment Washing & Dewatering Peeling/Slicing/Inspection Others Saudi Arabia Fruit & Vegetables Processing Market, by Operation Type: Automatic Semi-Automatic Saudi Arabia Fruit & Vegetables Processing Market, by Product Type: Fresh Fresh-Cut Canned Frozen Others Saudi Arabia Fruit & Vegetables Processing Market, by Region: Eastern Western Northern & Central Southern For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Fruit & Vegetables Processing Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Yahoo
India Gas Engine Industry Report 2025: Shift Toward Decentralized and On-site Power Generation, Growing Demand for Clean and Reliable Power - Trends, Opportunities and Forecasts 2021-2031
The India Gas Engine Market presents key opportunities in the shift towards decentralized, environmentally friendly power solutions driven by India's urbanization, rising electricity demand, and regulatory push for clean energy. Gas engines, leveraging natural and renewable fuels, offer reliable, low-emission alternatives to traditional power sources. Indian Gas Engine Market Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "India Gas Engine Market, By Region, Competition, Forecast & Opportunities, 2021-2031F" has been added to offering. The India Gas Engine Market was valued at USD 125 Million in 2025, and is expected to reach USD 217 Million by 2031, rising at a CAGR of 9.51% Gas engines, which utilize fuels like natural gas, biogas, landfill gas, or hydrogen, offer an efficient and environmentally friendly alternative to traditional diesel or petrol engines. Their application spans industrial, commercial, and residential power generation, including use in combined heat and power (CHP) systems. The increasing demand for clean energy, driven by environmental regulations and the integration of renewable fuels, is positioning gas engines as a key solution for reliable and low-emission power. Their operational flexibility in continuous and backup modes, along with compatibility with cleaner fuels, supports India's transition toward sustainable energy systems. Growing Demand for Clean and Reliable Power India's rapid urbanization, population growth, and industrial expansion have significantly increased electricity consumption. Traditional coal-powered systems face challenges due to environmental pressures and regulatory constraints, prompting a shift toward cleaner alternatives. Gas engines are emerging as a preferred option for decentralized power generation owing to their lower emissions and operational reliability. In regions plagued by power outages, industries and commercial complexes are increasingly adopting gas engines for captive energy needs. Their quick start-up capabilities also make them ideal for peak load and backup applications. The government's initiatives to reduce coal dependency and expand natural gas infrastructure further support gas engine adoption. As India's electricity demand is expected to rise by 5-6% annually, gas engines are set to play a vital role in meeting the growing need for sustainable and consistent power. Inconsistent Availability and High Cost of Natural Gas The Indian gas engine market faces a major obstacle in the form of unreliable and costly natural gas supply. Although the government is working to expand the gas pipeline network, domestic production remains insufficient, making India heavily reliant on imported Liquefied Natural Gas (LNG), whose prices fluctuate with global trends and geopolitical shifts. This pricing volatility impacts the operational feasibility of gas engines, particularly for industries needing predictable energy costs. Moreover, areas lacking piped gas access depend on transported LNG, which increases logistical and financial burdens. Additionally, the limited domestic gas supply is often reserved for priority sectors like fertilizers and city gas distribution, reducing its availability for power generation. These factors contribute to investor uncertainty, hindering broader adoption of gas engine systems. Shift Toward Decentralized and On-site Power Generation A prominent trend in India's gas engine sector is the move toward decentralized and on-site energy solutions. Businesses and industries seeking independence from an unreliable grid and rising utility costs are increasingly deploying gas engines for self-generated power. This is particularly notable in energy-intensive sectors such as manufacturing, healthcare, data centers, and commercial infrastructure. Decentralized generation offers advantages like reduced transmission losses, operational resilience, and better energy control. With scalability to suit varying facility sizes, gas engines are gaining ground in urban and industrial regions with access to piped gas. Additionally, compliance with stricter environmental regulations is encouraging the replacement of diesel gensets with gas engines. As organizations continue to focus on cost-efficiency and sustainability, decentralized power generation using gas engines is expected to expand further. Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2025 - 2031 Estimated Market Value (USD) in 2025 $125 Million Forecasted Market Value (USD) by 2031 $217 Million Compound Annual Growth Rate 9.5% Regions Covered India Report Scope Key Market Players: Caterpillar Inc. Cummins Inc. Wartsila Corporation MAN Energy Solutions SE General Electric Company Mitsubishi Heavy Industries, Ltd. INNIO Group Kohler Co. India Gas Engine Market, By Fuel Type: Natural Gas Special Gas Others India Gas Engine Market, By Power Output: < 15kVA 15-25kVA 25-55kVA 55-75kVA India Gas Engine Market, By End User: Utilities Construction Mining Small Industries Others India Gas Engine Market, By Region: South India North India West India East India For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Indian Gas Engine Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
