Aramco Asia to begin marketing FREP Polyolefins
Aramco Far East (Beijing) Business Services Co., Ltd. (Aramco Asia) has officially tapped into China’s petrochemical market with the start of marketing polyolefins in China on January 1, 2013.
Aramco Asia will annually market 200,000 metric tons (Mt) of polyethylene and 130,000 Mt of polypropylene, produced by the Fujian Refining & Petrochemical Company Limited (FREP) through Aramco Asia’s branch office in Xiamen, Fujian Province.
In addition to polyolefins, Aramco Asia also plans to market a variety of other petrochemicals in Asia, such as aromatics that will be facilitated through Aramco Asia’s branch office in Shanghai. These product lines represent major growth businesses for Aramco Asia.
Aramco Asia, a wholly-owned affiliate of Saudi Aramco, is headquartered in Beijing, and was inaugurated on November 12, 2012, with branches in Xiamen and Shanghai. Aramco Asia is established to serve the vibrant and important Asian energy and chemicals markets, and be Saudi Aramco’s marketing intelligence hub in Asia. Aramco Asia will provide a wide array of services, including crude oil marketing services, chemical sales and marketing, joint venture coordination, procurement, research and development, and project management in the region.
Saudi Aramco is a fully-integrated, global petroleum and chemicals enterprise, and a world leader in exploration, production, refining, distribution and marketing.
FREP, a large-scale petrochemical enterprise located in Quanzhou, Fujian Province, is a joint venture among Saudi Aramco Asia Company, Ltd. (SAAC), ExxonMobil China Petroleum & Petrochemical Company Limited (EMCP&P), and Fujian Petrochemical Company Limited (FPCL), with a total investment of approximately 40 billion yuan.
- Aramco's first sale of polyolefins in China
Seeking more business opportunities
In addition to the products from FREP, Aramco Asia will identify and pursue new Asian ventures for long-term growth in the chemical sector in alignment with Saudi Aramco’s transformation into a global petrochemical company.