Saudi Aramco and China Petrochemical Corporation (Sinopec) have formed Yanbu Aramco Sinopec Refining Company (YASREF) Limited, a joint venture that will construct, own and operate a full conversion refinery in Yanbu' Industrial City.

The joint venture refinery will be a world-class, full-conversion refinery using 400,000 barrels per day (bpd) of Arabian Heavy crude oil to produce ultra-clean transportation fuels for international and domestic markets as well as high-value refined products.

The Refinery and its Products

YASREF will produce refined products that meet demand from emerging markets of Asia, the Middle East and Africa, as well as markets in Europe and the United States.

The construction is expected to be completed in June 2014, with start-up commencing in September 2014 and the first commercial shipment of refined products expected in the fourth quarter of 2014.

Within a few years of operation, YASREF is expected to deliver significant annual revenues and generate about 6,000 direct and indirect jobs for Saudis. Also, the joint venture has enrolled 550 Saudis in the apprentice program, with the majority of the apprentices to be assigned to operations and maintenance activities in the refinery.

The refinery is using proprietary technology supplied by UOP, Chevron Lummis and ConocoPhillips to assure the quality and quantity of the ultra-clean transportation fuels produced. All of the refinery’s products will be marketed and sold to the world on behalf of YASREF by the joint venture partners..

The refinery has been configured with the following major units and technologies to assure high-quality products:

  • 400,000 bpd Crude Distillation Unit (open technology)
  • 124,000 bpd Chevron Lummis Global Hydrocracker
  • 177,000 bpd UOP Diesel Hydrotreater
  • 85,000 bpd UOP Naphtha Hydrotreater
  • 84,000 bpd UOP Continuous Catalytic Reformer (CCR)
  • 20,000 bpd UOP Isomerization Unit
  • 20,000 bpd Benzene Extraction Unit
  • 117,000 bpd ConocoPhillips Delayed Coker Unit
  • 262 million cubic feet per day Hydrogen Generation Unit
  • 3,400-tons per day Sulfur Recovery Units

The refinery products will include:

  • 263,000 bpd Diesel
  • 90,000 bpd Gasoline
  • 6,200 tonnes per day of Petroleum Coke
  • 1,200 tonnes per day of Pelletized Sulfur
  • 140,000 tonnes per day of Benzene

Progressing Partnership

Saudi Aramco and Sinopec have a long and successful history of forming joint ventures that develop and execute world-class mega-projects.

Saudi Aramco and Sinopec are partners (along with ExxonMobil) in the Fujian Refining and Petrochemical Company Limited in Fujian Province.

Saudi Aramco and Sinopec are also partners in Sino Saudi Gas Limited, one of the Kingdom’s gas exploration joint venture companies.

YASREF is Sinopec’s first international downstream investment and ushers a new chapter of partnership with Saudi Aramco.

YASREF possesses the location advantage to effectively and efficiently supply both international and domestic markets.

Sinopec is Saudi Aramco’s largest crude oil buyer.

Value Creation

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.

YASREF will meet growing demand from emerging markets in Asia, the Middle East, Eastern Europe and Africa as well as from Western Europe and the United States.

YASREF will be a new hub to leverage future needed capacity and petrochemical development in Yanbu'.

YASREF will process Arabian Heavy crude oil into high-quality refined products that could include future production of Paraxylene and Toluene.

Corporate Social Responsibility

Both Saudi Aramco and Sinopec are world-class companies committed to the highest standards of safety, corporate citizenship and environmental sustainability in operations around the world.  The technologies selected for the refinery are among the world's most advanced and energy efficient.

The YASREF mission is to deliver maximum value to our shareholders by:

  • Excelling in operational performance, safety and reliability that exceed customers’ expectations.
  • Harnessing the skills of our talented and diverse staff working in state-of-the-art facilities.
  • Delivering premium fuel products with the lowest environmental footprint.

YASREF news brief

Watch a short video news story about the signing of the joint venture agreement for Yanbu Aramco Sinopec Refining Company.

16-Jan-2012

Related speech

Aramco in the news

CNN interview

Watch CNN's interview with Khalid Al-Falih, Saudi Aramco CEO, after the YASREF signing ceremony.

DHAHRAN, 19-Jan-2012

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