Latest news with #ZhaoDong
Fibre2Fashion
24-04-2025
- Business
- Fibre2Fashion
Belgian MNC Syensqo & Sinopec partner on advanced materials
Syensqo, a leader in advanced materials and specialty chemicals, and China Petroleum & Chemical Corporation (Sinopec) have signed a Strategic Partnership Framework Agreement to foster collaboration in advanced materials and specialty chemicals. Syensqo and China Petroleum & Chemical Corporation have signed a Strategic Partnership Framework Agreement to boost collaboration in advanced materials and specialty chemicals. Key focus areas include carbon fibre, specialty polymers, sustainability, and supply chain management, with aims to drive innovation across aerospace, energy, and transportation sectors. The partnership is set to explore business development opportunities and application development in various sectors, including commercial aerospace, transportation, energy, electronics and industrial fields. By leveraging their combined expertise, Syensqo and Sinopec aim to empower innovation and deliver sustainable solutions that meet the evolving demands of these industries. Key areas of focus include carbon fiber and composites, specialty polymers, and material solutions for commercial aerospace, transportation, and energy sectors. The collaboration will also delve into supply chain management and sustainability initiatives, including the use of circular chemicals and reducing carbon footprint. The two companies will also explore business cooperation in emerging markets such as South America and Asia. Dr. Ilham Kadri, CEO of Syensqo, stated, "We have had many exchanges with Sinopec in Beijing, Shanghai and Brussels. This strategic partnership aligns with Syensqo's mission to pursue breakthroughs that advance humanity. Together, we will explore innovative solutions that address the evolving needs of our industries while lowering carbon footprint." Mr. Zhao Dong, General Manager of SINOPEC said, 'SINOPEC has always upheld the concept of openness and cooperation. This collaboration with Syensqo is an important practice to deepen the synergy of the global energy and chemical industry chain. We will take the lead in science and technology innovation, promote the research and development of green and low-carbon technologies and high-end materials, jointly explore the path of high-quality development of the petrochemical industry, and provide customers around the world with cleaner and more efficient energy, chemical products and advanced material solutions.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Yahoo
12-04-2025
- Business
- Yahoo
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.
Korea Herald
10-04-2025
- Business
- Korea Herald
Sinopec and Aramco Sign Venture Framework Agreement to Expand Yanbu Refinery
Collaboration Aims to Build a World-Class Integrated Refining and Petrochemical Complex YANBU INDUSTRIAL CITY, Saudi Arabia, April 10, 2025 /PRNewswire/ -- On the 10th anniversary of the establishment of the Yanbu Refinery joint venture, China Petroleum & Chemical Corporation ("Sinopec," HKG:0386) and Saudi Arabian Oil Company ("Aramco") signed a venture framework agreement ("VFA") to advance the Yanbu Refinery Expansion Project. The project will leverage existing facilities to construct new units, including a large-scale mixed feed steam cracker of 1.8 million metric tons per year ethylene plant, a 1.5 million ton per year aromatics plant with associated downstream polyolefin units, enhancing integrated refining and petrochemical synergies and fostering an innovative, full-industry-chain ecosystem. Upon completion, the expansion will significantly boost production capacity for high-end petrochemical products, support Saudi Arabia's industrial diversification strategy, and meet growing global market demand. "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 modernization," commented Zhao Dong, Sinopec Group President. "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." Aramco President & CEO Amin H. Nasser emphasized, "The Yanbu expansion agreement deepens Aramco's strategic partnership with Sinopec. By prioritizing 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, a flagship collaboration under Saudi Arabia's Vision 2030 and China's Belt and Road Initiative, is located in Yanbu Industrial City, Saudi Arabia. The Yanbu Refinery spans 5.2 million square meters and processes 430,000 barrels per day of Saudi heavy crude oil, producing high-quality refined products and value-added chemicals for global markets. As a pivotal energy hub in the Middle East, the refinery has driven Saudi Arabia's industrial modernization and international engagement. The expansion project marks a new chapter in the partnership, combining technological innovation and industrial chain optimization to upgrade traditional energy cooperation models and explore sustainable development pathways. The expansion project will integrate new ethylene, aromatics, and polyolefin units with existing infrastructure, elevating the complex's refining-petrochemical integration capabilities and expanding production of high-performance materials. It will also incorporate advanced technologies and green innovations to support Saudi Arabia's economic diversification and decarbonization goals.
Zawya
10-04-2025
- Business
- Zawya
Sinopec and Aramco sign venture framework agreement to expand Yanbu Refinery
YANBU INDUSTRIAL CITY, Saudi Arabia /PRNewswire/ -- On the 10th anniversary of the establishment of the Yanbu Refinery joint venture, China Petroleum & Chemical Corporation ("Sinopec," HKG:0386) and Saudi Arabian Oil Company ("Aramco") signed a venture framework agreement ("VFA") to advance the Yanbu Refinery Expansion Project. The project will leverage existing facilities to construct new units, including a large-scale mixed feed steam cracker of 1.8 million metric tons per year ethylene plant, a 1.5 million ton per year aromatics plant with associated downstream polyolefin units, enhancing integrated refining and petrochemical synergies and fostering an innovative, full-industry-chain ecosystem. Upon completion, the expansion will significantly boost production capacity for high-end petrochemical products, support Saudi Arabia's industrial diversification strategy, and meet growing global market demand. "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 modernization," commented Zhao Dong, Sinopec Group President. "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." Aramco President & CEO Amin H. Nasser emphasized, "The Yanbu expansion agreement deepens Aramco's strategic partnership with Sinopec. By prioritizing 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, a flagship collaboration under Saudi Arabia's Vision 2030 and China's Belt and Road Initiative, is located in Yanbu Industrial City, Saudi Arabia. The Yanbu Refinery spans 5.2 million square meters and processes 430,000 barrels per day of Saudi heavy crude oil, producing high-quality refined products and value-added chemicals for global markets. As a pivotal energy hub in the Middle East, the refinery has driven Saudi Arabia's industrial modernization and international engagement. The expansion project marks a new chapter in the partnership, combining technological innovation and industrial chain optimization to upgrade traditional energy cooperation models and explore sustainable development pathways. The expansion project will integrate new ethylene, aromatics, and polyolefin units with existing infrastructure, elevating the complex's refining-petrochemical integration capabilities and expanding production of high-performance materials. It will also incorporate advanced technologies and green innovations to support Saudi Arabia's economic diversification and decarbonization goals.
Arabian Business
10-04-2025
- Business
- Arabian Business
Aramco and Sinopec sign agreement for major expansion at Yasref
Saudi Aramco and China Petroleum & Chemical Corporation (Sinopec) are planning a major expansion to the Yanbu Aramco Sinopec Refining Company (Yasref) on the west coast of Saudi Arabia. On Yasref's 10th anniversary, the two partners (Aramco 62.5 per cent stake and Simopec 37.5 per cent) will build a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex. Aramco, Sinopec deepen ties The Venture Framework Agreement (VFA) seeks to advance engineering studies for the development of a fully integrated petrochemical complex, which aims to maximise operational synergies and create additional value that is expected to enhance Yasref's ability to meet the growing demand for high-quality petrochemical products. Amin Nasser, Aramco President & CEO, commented: 'The Yasref Venture Framework Agreement further deepens and elevates our strategic partnership with Sinopec. 'The planned expansion project solidifies our commitment to product innovation and diversification. As we look forward to strengthening our collaboration with Sinopec in making Yasref a leading refining and petrochemicals joint venture, we aim to contribute to growing Saudi Arabia's position as a global leader in energy and chemicals.' The planned expansion aligns with Aramco's downstream strategy to unlock the full potential of Saudi resources, including converting up to four million barrels per day of crude oil into petrochemicals by 2030. Zhao Dong, Sinopec President, added: 'Yasref, a flagship joint venture symbolising China-Saudi energy cooperation, has not only served as a key driver for Saudi Arabia's local economic growth but also actively advanced petrochemical industry upgrades. 'The Yasref expansion project represents a significant milestone in our bilateral partnership, ushering in a new phase of deeper and more far-reaching collaboration. We expect the Yasref expansion project to unlock new dimensions of collaborative potential as we navigate the energy transition.' Yasref is one of a number of strategic partnerships between Aramco and Sinopec, which also include Sinopec Senmei (Fujian) Petroleum Company (SSPC); Sinopec SABIC Tianjin Petrochemical Company (SSTPC); Fujian Refining & Petrochemical Company (FREP); and a new integrated refining and petrochemical complex being developed in Fujian Province in China.
