Saudi Aramco, China's ZPC sign 7.88m barrels crude supply deal: Report
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Saudi Aramco's Ras Tanura oil refinery and terminal in Saudi Arabia in May 2018.
PHOTO: REUTERS
SINGAPORE – China’s privately owned refinery Zhejiang Petroleum and Chemical (ZPC) has signed a purchase deal with Saudi Arabian state oil producer Saudi Aramco for supply of 1.08 million tonnes, or 7.88 million barrels, of crude oil, Chinese government-backed newspaper Zhoushan Daily reported.
The deal, worth 5.3 billion yuan (S$1.03 billion), was sealed during the weekend at the 5th China International Import Expo in Shanghai.
The report did not disclose the timeframe of the purchase deal.
ZPC confirmed the deal without providing any details. Saudi Aramco did not immediately respond to a Reuters request for comment.
The ZPC refinery, which has a capacity of 800,000 barrels per day, processed a total of 26.52 million tonnes of crude oil in 2021, according to the report. REUTERS
