The Yanbu Aramco Sinopec Refining Company Ltd., a joint venture between Saudi Aramco and China Petrochemical Corporation ( Sinopec), is a world-class, full-conversion refinery that covers about 5.2 million square meters in the Yanbu Industrial City, and is the key anchor project in Yanbu. YASREF uses 400,000 barrels per day (bpd) of Arabian heavy crude oil to produce premium transportation fuels, as well as high-value refined products for both international and domestic markets. It became operational in September, 2014
YASREF is a significant addition to the impressive downstream portfolio of Saudi Aramco, while building on and cementing the strategic partnership with Sinopec, Saudi Aramco’s largest crude oil partner and buyer. Both companies bring commercial and technical expertise to the joint venture to enhance trade of transportation fuels between a significant energy producer and its consumer. In addition, YASREF represents a continuing step forward in the strategies of Saudi Aramco and Sinopec to drive growth further downstream to capture additional value along the hydrocarbon chain.
