Chinese Refining JV SAUDI ARAMCO SUSPENDS PLANS FOR PETROCHEMICALS COMPLEX

摘要

PR China(KBR)-Saudi Aramco has suspended a joint venture deal with its Chinese partners China North Industries Corporation(Norinco)and Panjin Sincen to construct a ten billion dollar refining and petrochemicals complex in China.According to news reports,lower oil prices across the globe are the core reason behind this move.Last year,Saudi Aramco had decided to form a joint venture with Norinco and Panjin Sincen under the name of"Huajin Aramco Petrochemical".