The two companies had already inked strategic agreements on March 27, a move which would further spur the growth of the Aramco’s downstream presence in China.
Under the deal, Saudi Aramco will export 480,000 barrels per day of Arabian crude to the largest Chinese integrated refining and chemicals complex, which is owned by Rongsheng affiliate Zhejiang Petroleum and Chemical Co.
The agreement was sealed through the Saudi company’s Netherlands-based subsidiary Aramco Overseas Co.
Rongsheng owns a 51 percent equity interest in ZPC, whose complex has the capacity to process 800,000 bpd of crude oil and produce 4.2 million tons of ethylene per year.
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