Aramco, PetroChina sign MOU for refinery

Aramco Overseas Co. BV and PetroChina Co. Ltd. have signed a memorandum of understanding for joint development of a 200,000-b/d grassroots refinery in Yunnan Province in far southwestern China.

By OGJ editors
HOUSTON, Mar. 23
-- Aramco Overseas Co. BV and PetroChina Co. Ltd. have signed a memorandum of understanding for joint development of a 200,000-b/d grassroots refinery in Yunnan Province in far southwestern China.

The high-conversion refinery would process Arabian crude oil and yield products including ultralow-sulfur gasoline and diesel meeting Chinese specifications.

Under a long-term contract, Aramco would supply as much as all the crude needed by the refinery.

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