China North Industries Group Co. Ltd (Norinco) has fixed crude supplies from Saudi Aramco for 2024 amounting to around 6 million barrels, unchanged from annual contract volumes since 2021, a company source told SP Global Commodity Insights Nov. 8. State-run Norinco could receive more than 215,000 b/d of Saudi barrels by 2026 when its new refining and petrochemical complex, a joint investment with Saudi Aramco, comes online, the crude producer said Nov. 6. Huajin Aramco Petrochemical Co. (Hapco) Norinco takes the Saudi barrels for its 120,000 b/d North Huajin Chemical refinery in northeastern Liaoning province through its trading arm Zhenhua Oil. Prior to 2021, it took about 10 million barrels of Saudi crudes annually, SP Global Commodity Insights data showed.
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