ExxonMobil's $4.5bn China JV Starts Operations
ExxonMobil's $4.5bn petrochemical and refining facility in China, built in partnership with Sinopec and Saudi Aramco, has formally started operations.
The Fujian Integrated Refining and Ethylene joint venture project tripled the existing refinery's capacity to 240,000bpd to produce transportation fuels and other refined products.
The project added a new petrochemical complex featuring an 800,000t/y ethylene steam cracker, an 800,000t/y polyethylene unit, a 400,000t/y polypropylene unit and a 700,000t/y paraxylene unit.
Fujian Petrochemical holds a 50% stake in the complex while ExxonMobil China Petroleum and Petrochemical and Saudi Aramco Sino Company hold 25% each.