European Chemical Industry News & Insights

Aramco, Sinopec, Yasref Plan Petrochemical Expansion

At a glance
  • The project includes a mixed feed steam cracker with a 1.8 million tons per year capacity.
  • A 1.5 million tons per year aromatics complex will be integrated into Yasref.
  • The expansion aims to convert up to four million barrels per day of crude oil into petrochemicals by 2030.

Agreement Overview

Aramco, Sinopec, and Yasref have signed a Venture Framework Agreement to expand petrochemical operations at the Yasref refinery in Yanbu, Saudi Arabia. This agreement marks a significant step in advancing engineering studies for a fully-integrated petrochemical complex.

Project Details

The planned expansion includes the introduction of a state-of-the-art petrochemical unit, featuring a mixed feed steam cracker with a capacity of 1.8 million tons per year and a 1.5 million tons per year aromatics complex. These facilities will be integrated into the existing Yasref complex to enhance production capabilities and diversify output.

Strategic Goals

The project aims to maximize operational synergies and create additional value, aligning with Aramco's downstream strategy to convert up to four million barrels per day of crude oil into petrochemicals by 2030. This expansion is expected to meet the growing demand for high-quality petrochemical products.

Partnership Context

Yasref is a joint venture owned by Aramco (62.5%) and Sinopec (37.5%). The expansion project coincides with Yasref's 10th anniversary and represents a milestone in the ongoing collaboration between Aramco and Sinopec. The partnership also includes other strategic projects, such as the Sinopec Senmei (Fujian) Petroleum Company and the Fujian Refining & Petrochemical Company.