Menu Close I ACCEPT We are committed to providing you with a productive and privacy-friendly website experience. Like most websites you visit, we use cookies to provide you with a better service. Carry on browsing if you're happy with this, or find out how to manage. Cookie notices Home News & Media News Saudi Aramco expands downstream investment in China Zhejiang Free Trade Zone Saudi Aramco expands downstream investment in China Zhejiang Free Trade Zone LONDON, United Kingdom, September 17, 2019 MOU signing Ceremony Together with prior agreements signed during HRH Crown Prince Mohammed Bin Salman’s visit to China in February this year, this MoU facilitates Saudi Aramco’s planned acquisition of a 9% stake in the Zhejiang integrated refinery and petrochemical complex. It will also include a long-term crude oil supply agreement and the ability to utilize Zhejiang Petrochemical’s large crude oil storage facility to serve its customers in Asia. These activities reflect the Company’s strategy to expand its presence in the Chinese energy sector. The agreement solidifies Saudi Aramco’s participation in the 400,000 barrels per day refinery from Phase III of the Zhoushan Petrochemical Greenfield project, and also allows the parties to evaluate potential opportunities for investment in other parts of the value chain. These may include refining and petrochemical production, storage and trade of crude oil and natural gas, retail, as well as distribution of oil products within the Zhejiang Free Trade Zone. The agreement solidifies Saudi Aramco’s participation in the 400,000 barrels per day refinery from Phase III of the Zhoushan Petrochemical Greenfield project. President & CEO The agreement solidifies Saudi Aramco’s participation in the 400,000 barrels per day refinery from Phase III of the Zhoushan Petrochemical Greenfield project, and also allows the parties to evaluate potential opportunities for investment in other parts Abdulazizi Al-Judaimi Recent news DELFT, The Netherlands, September 01, 2020 AI and energy: taking data further, faster THE HAGUE, The Netherlands, August 13, 2020 ZWIC in the Netherlands - two surgeons place focus on the frontline BILBAO, Spain, August 11, 2020 Aramco and local companies back COVID-19 aid initiatives in the Basque Country MILAN, Italy, July 08, 2020 Aramco's donation helps to increase capacity at children's hospital in Italy THE HAGUE, The Netherlands, June 09, 2020 Covid-19 - giving our support DHAHRAN, Saudi Arabia, March 20, 2020 COVID-19: Aramco’s response Quick Links CAREERS CONTACT US SITEMAP COOKIE NOTICES PRIVACY STATEMENT TERMS AND CONDITIONS UK TAX STRATEGY STATEMENT News & Media NEWS SPEECHES Other websites ARAMCO TRADING COMPANY SAUDI ARAMCO ENERGY VENTURES IKTVA Social media twitter linkedin facebook @ 2020 Aramco Overseas Company