ZPC

Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical

Retrieved on: 
Monday, March 27, 2023
Partnership, ZPC, Sale, Saudi Aramco, AOC, Chemical substance, Acquisition, RMB, Oil, Downstream, Hisense Kelon

DHAHRAN, Saudi Arabia, March 27, 2023 /PRNewswire/ -- Aramco, one of the world's leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. ("Rongsheng") for RMB 24.6 billion ($3.6 billion at current exchange rates), in a deal that would significantly expand its downstream presence in China.

Key Points: 
  • Aramco Overseas Company ("AOC"), a wholly-owned subsidiary of Aramco, will acquire the interest in Rongsheng.
  • The investment would anchor an important association between Aramco, Rongsheng and ZPC, which operates one of the world's most state-of-the-art chemical conversion assets.
  • Aramco, which has a 30% stake in HAPCO, will supply up to 210,000 bpd of crude oil feedstock to the complex.
  • Combined, the partnership with Rongsheng and the HAPCO joint venture would see Aramco supply a total of 690,000 bpd of crude to high chemical conversion assets.

Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical

Retrieved on: 
Monday, March 27, 2023
Partnership, ZPC, Sale, Saudi Aramco, AOC, Chemical substance, Acquisition, RMB, Oil, Downstream, Hisense Kelon

DHAHRAN, Saudi Arabia, March 27, 2023 /PRNewswire/ -- Aramco, one of the world's leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. ("Rongsheng") for RMB 24.6 billion ($3.6 billion at current exchange rates), in a deal that would significantly expand its downstream presence in China.

Key Points: 
  • Aramco Overseas Company ("AOC"), a wholly-owned subsidiary of Aramco, will acquire the interest in Rongsheng.
  • The investment would anchor an important association between Aramco, Rongsheng and ZPC, which operates one of the world's most state-of-the-art chemical conversion assets.
  • Aramco, which has a 30% stake in HAPCO, will supply up to 210,000 bpd of crude oil feedstock to the complex.
  • Combined, the partnership with Rongsheng and the HAPCO joint venture would see Aramco supply a total of 690,000 bpd of crude to high chemical conversion assets.

One of the World's Largest Alky Units Achieves Successful Start-up

Retrieved on: 
Thursday, August 12, 2021
Multimedia, Alkylation, Achievement, Clips4Sale, Technology, Lummus, ZPC, Chemical substance, BPSD, Solution, Oil, Gasoline

The unit has a capacity of 45,000 BPSD of alkylate product, making it the largest alkylation unit ever licensed by Lummus.

Key Points: 
  • The unit has a capacity of 45,000 BPSD of alkylate product, making it the largest alkylation unit ever licensed by Lummus.
  • "Given the unit's unique and advanced features, such as the scale and the nature of the feedstock, this achievement reflects Lummus' ability to adapt, innovate and collaborate closely with our customers."
  • Lummus' CDAlky technology is an advanced low-temperature sulfuric acid alkylation process for the production of premium motor fuel alkylate.
  • It reacts light olefin streams from refinery sources such as fluid catalytic cracking units or from steam cracking units with iso-paraffins to produce fuel alkylate.