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15-10-2014

Arabian crude-filled VLCC arrives at Quanzhou new refinery

The Sinochem Quanzhou Refinery in South China’s Fujian province recently received its first shipment of Saudi Aramco crude oil.

The crude shipment of Arabian Medium and Arabian Heavy is the first ever oil the refinery purchased since it officially went into operation in July on the back of a successful trial run early this year.

“The delivery will help us enhance our role as a responsible and reliable energy supplier worldwide as we have been stably powering the world with our energy products,” said Abdallah Al-Subaiyyal, acting president of Aramco Asia. “We are committed to fulfilling our obligations and intend to do so for the future.”

The Very Large Crude Oil Carrier (VLCC) Mt Ingrid carrying the crude oil arrived at Quanzhou Huanggan Port in the South China Fujian province on August 19 after a 22-day voyage. The tanker started unloading the oil upon arrival.

State-backed Sinochem first began doing business with Saudi Aramco back in the 1990s. The newly started refinery, a fully owned Sinochem subsidiary with a capacity of 240,000 barrels per day (bpd), can produce gasoline and diesel that meet Euro V standards.

Sinochem updated its Crude Oil Sales Agreement (COSA) with Saudi Aramco in May to import 540,000 bpd of Arabian Medium and Arabian Heavy crude oil before its Quanzhou refinery began operations in July.

The volume of this specific shipment is about 2 million barrels. This specific VLCC is the first of a new increment of supply to China. Quanzhou refinery added an additional 54,000 bpd to Sinochem’s existing COSA with Saudi Aramco taking it from 45,000 to 99,000 barrels per day.

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