EXXONMOBIL AND SAUDI ARAMCO SET UP JVS IN CHINA
AsiaInfo Services, April, 2007
AsiaInfo Services 04-03-2007 ExxonMobil and Saudi Aramco Set up JVs in China FUJIAN, Apr 03, 2007 (SinoCast via COMTEX) -- US-based ExxonMobil and Saudi Aramco have reached an agreement with China's oil giant Sinopec and Fujian province on setting up two joint ventures. The joint ventures, which were named Fujian Refining & Petrochemical Co., Ltd.
and Sinopec SenMei (Fujian) Petroleum Co., Ltd. respectively, have gained approval and related business licenses from the Chinese government. The two joint ventures, with a total investment of about USD 5 billion, will be China's first fully integrated refining, petrochemicals and fuels marketing project with foreign participation. The Fujian Refining & Petrochemical Co., Ltd., which will be owned by...
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