Oil
Aramco joint venture refinery in China receives first crude cargo
The Huajin Aramco Petrochemical Company refinery has received its initial shipment of Saudi crude ahead of operations.
Key points
- The HAPCO refinery in Panjin City received its first cargo of Arab crude.
- Commercial operations are now scheduled to begin in the first quarter of 2027.
- Saudi Aramco holds a 30 percent stake in the joint venture.
What happened
According to OilPrice.com reporting, Saudi Aramco’s newest joint venture refinery in China has taken delivery of its first cargo of Arab crude oil. The facility, operated by the Huajin Aramco Petrochemical Company (HAPCO), is preparing for start-up.
Why it matters
Saudi Arabia has pursued a strategy of establishing joint ventures with Chinese partners to secure long-term outlets for its crude production. The HAPCO facility, located in Panjin City in northeast China, features a crude processing capacity of 300,000 barrels per day. It also includes an adjacent petrochemical plant designed to produce 1.65 million metric tons of ethylene and two million metric tons of paraxylene annually. Under the project agreements, Saudi Aramco is set to supply up to 210,000 barrels per day of crude feedstock.
What comes next
While the refinery was initially slated to become operational in 2026, the timeline experienced minor adjustments due to disruptions in crude deliveries linked to Middle East developments over the past several months. Commercial operations for the facility are now expected to commence in the first quarter of 2027.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
1.4% of China’s merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
