Tag Archives: PETRONAS

Aramco is also expanding its refining investments in China.

The biggest boost to Saudi exports to China comes from contracts inked with new refineries starting up this year and next.

OOCEP holds a 40 percent stake in the block. while Britain’s BP holds the remaining 60 percent.

Concern for the environment is a major reason for China'.s increasing imports of gas.

Shell said in 2014 that the project could cost as much as C$40 billion ($31 billion).

The oil sector managed from June 2014 until now to sign 63 new oil and gas exploration deals.

Refinery operations are set to begin in 2019. with petrochemical operations to follow six to 12 months later.

RAPID will contain a 300.000-bpd refinery and a petrochemical complex with a capacity of 7.7 million tonnes a year.

Since July last year crude oil prices have gained 56%.

The chemicals business is Aramco’s key strategy.