Saudi Arabia, Chinese Rongsheng Sign Crude Supply Deal

Saudi Arabia, Chinese Rongsheng Sign Crude Supply Deal

Saudi Aramco has signed a long-term agreement with Chinese Zhejiang Rongsheng for a supply of crude to the company’s new refinery in eastern China, Reuters reported.

Zhejiang Petrochemical, 51% owned by textile giant Rongsheng Holding Group, announced in August its intentions import 5 million tons of crude oil during 2018. The company’s 400,000 barrels-per-day-refinery-petrochemical project is expected to start operations in late 2018.

The volume and grades of the crude being supplied were not available. Neither Aramco nor Rongsheng could be reached for comment.

Mariana Somensi 890 Posts

Mariana holds a Journalism Bachelor Degree from the State University of Londrina, Brazil. The Brazilian journalist has 4 years of experience on the MENA region's affairs and over a year of experience on the oil and gas industry.

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