Business Services Industry
EXXON MOBIL, SAUDI ARAMCO START WORK ON FUJIAN REFINERY.
AsiaPulse News, December, 2004
BEIJING, Dec. 2 Asia Pulse - Exxon Mobil Corp., the world's biggest publicly-traded oil company, and Saudi Aramco have started engineering work on a US$3.5 billion refinery in China's southern Fujian Province, according to a Saudi official.
"We have begun some basic engineering work on the refinery," Abdulaziz al-Khayyal, Saudi Aramco's senior vice president of refining and oil marketing, said.
"We expect to sign a final joint venture agreement by next year."
Exxon, Aramco and China Petroleum & Chemical Corp. plan to expand the refinery to process 240,000 barrels of oil a day from 80,000 barrels a day.
Exxon and its partners are also building chemical plants, including an 800,000-ton-a-year ethylene plant among other chemical units....
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