{"id":1076,"date":"2007-02-26T06:44:34","date_gmt":"2007-02-25T22:44:34","guid":{"rendered":"http:\/\/www.chinacsr.com\/2007\/02\/26\/1076-exxonmobil-launches-first-foreign-refining-joint-venture-in-china\/"},"modified":"2007-02-26T06:44:34","modified_gmt":"2007-02-25T22:44:34","slug":"exxonmobil-launches-first-foreign-refining-joint-venture-in-china","status":"publish","type":"post","link":"https:\/\/www.chinacsr.com\/en\/2007\/02\/26\/1076-exxonmobil-launches-first-foreign-refining-joint-venture-in-china\/","title":{"rendered":"ExxonMobil Launches First Foreign Refining Joint Venture In China"},"content":{"rendered":"<p>Sinopec, the Fujian Provincial government, ExxonMobil and Saudi Aramco have together signed a contract for the Fujian Refining and Ethylene Joint Venture Project, marking a significant milestone in the development of China's first fully integrated Sino-foreign project involving refining, fuels and chemicals marketing.<!--more--><\/p>\n<p>At the same time, Sinopec, ExxonMobil and Saudi Aramco signed a contract for the Fujian Fuels Marketing Joint Venture Project.<\/p>\n<p>The Fujian Refining and Ethylene Joint Venture Project, located in Quanzhou, Fujian Province, will expand the existing refinery from 80,000 barrels-per-day &#8212; 4 million tons-per-year &#8212; to 240,000 barrels-per-day, or about 12 million tons-per-year. The upgraded refinery will primarily refine and process sour Arabian crude.<\/p>\n<p>In addition, the project will construct an 800,000 tons-per-year ethylene steam cracker, an 800,000 tons-per-year polyethylene unit, a 400,000 tons-per-year polypropylene unit and an aromatics complex to produce 700,000 tons-per-year of paraxylene. Support facilities including a 300,000 ton crude berth and power cogeneration will also be built.<br \/>\nThis joint venture company will be owned by Fujian Petrochemical Company Limited (50%), ExxonMobil China Petroleum and Petrochemical Company Limited (25%) and Saudi Aramco Sino Company Limited (25%). Currently, the project is expected to start up in early 2009. The Fujian Fuels Marketing Joint Venture Project will manage and operate approximately 750 service stations and a network of terminals in Fujian Province. It will be owned by Sinopec (55%), ExxonMobil (22.5%) and Saudi Aramco (22.5%).<\/p>\n<p>Together, the Fujian Refining and Ethylene Joint Venture Project and the Fujian Fuels Marketing Joint Venture Project aim to meet China's rapidly growing demand for petroleum products and petrochemicals.<\/p>\n<p>Fujian Petrochemical Company Limited is owned 50% by China Petroleum and Chemical Corporation (Sinopec) and 50% by the Fujian Government.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinopec, the Fujian Provincial government, ExxonMobil and Saudi Aramco have together signed a contract for the Fujian Refining and Ethylene Joint Venture Project, marking a significant milestone in the development of China's first fully integrated Sino-foreign project involving refining, fuels and chemicals marketing.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-1076","post","type-post","status-publish","format-standard","hentry","category-energy-cleantech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - 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