Aramco's China JV Refinery Receives First Saudi Crude Cargo Ahead of Startup

Key Facts

1The Huajin Aramco Petrochemical Company refinery in China received its first cargo of Arab crude in preparation for start-up.

The Huajin Aramco Petrochemical Company (HAPCO) refinery in China received its first cargo of Arab crude in preparation for start-up. Reuters reported that the delivery marks a critical step for the joint venture, in which Saudi Aramco holds a 30% stake alongside China’s NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%).

The delivery aligns with Saudi Arabia's long-term strategy to secure oil demand in China by investing in downstream joint ventures that process Saudi crude grades. The refinery has a processing capacity of 300,000 barrels per day, with Saudi Aramco committed to supplying up to 210,000 barrels per day of crude oil feedstock to the project.