China's largest refining project in Saudi Arabia achieves record profit

Updated: December 9, 2022 Source: Xinhua News Agency
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BEIJING, Dec. 8 (Xinhua) -- China's largest refining project in Saudi Arabia saw the best-ever financial performance in the first 11 months of this year, China Petrochemical Corporation (Sinopec) said Thursday.

The Yanbu Aramco Sinopec Refining Company, jointly established by Saudi Aramco and Sinopec, raked in over 1.4 billion U.S. dollars in net profit during the period.

Via the refinery, Sinopec has developed overseas markets for gasoline, diesel, petroleum coke, sulfur, and other refined products and promoted bilateral cooperation in oil and gas exploration, oil trade, engineering services, and other fields.

By 2021, the refinery had processed 134 million tonnes of crude oil and produced 29.52 million tonnes of gasoline and 79.95 million tonnes of diesel. 

Editor: Li Shimeng