Saudi Aramco has agreed with China’s Sinopec to expand their Yasref petrochemicals facility on Saudi Arabia’s west coast. This move is part of Aramco’s strategy to strengthen its refining and chemicals operations, helping to balance fluctuations in global oil prices.
The expansion includes plans for a mixed feed steam cracker with a capacity of 1.8 million metric tons per year, as well as an aromatics complex capable of producing 1.5 million metric tons annually. The Yasref expansion project represents a significant milestone in our bilateral partnership, ushering in a new phase of deeper and more far-reaching collaboration,
stated Sinopec’s President Zhao Dong.
Yasref, a joint venture with Aramco holding 62.5% and Sinopec 37.5%, currently processes 400,000 barrels of Arabian heavy crude daily, producing fuels and other refined products. The announcement comes as the company marks the tenth anniversary of Yasref’s operations.
Aramco aims to convert up to 4 million barrels per day of crude into petrochemicals by 2030. The company’s latest annual report highlights that over half of its crude output was used in downstream activities in 2024, an increase from the previous year.
Beyond Yasref, Aramco and Sinopec are collaborating on additional projects, including a refinery and petrochemical complex in China’s Fujian province, and partnerships involving Aramco’s chemicals subsidiary SABIC.