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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Aramco, Shandong Energy Collaborate on Downstream Projects in China

Aramco Downstream China Oil Saudi Aramco Saudi Arabia Shandong province
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

Saudi Aramco and Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China, the Saudi Arabian Oil Company said in a statement on Friday.

The companies have signed a Memorandum of Understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement, supporting Aramco’s role in building a thriving downstream sector in Shandong Province, it said.

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