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On April 8, according to the Sinopec News Office, on the occasion of the 10th anniversary of the establishment of the Yanbu Refinery joint venture, Sinopec and Saudi Aramco signed a Framework Agreement on Cooperation for the Yanbu Refinery Expansion Project in Dammam, Saudi Arabia. Building on existing facilities, this project will establish new units for producing 1.8 million tons per year of ethylene and 1.5 million tons per year of aromatics, along with associated downstream polyolefin production units. This will enable maximum utilization of the synergies inherent in integrated refining and chemical processing, fostering an innovative ecosystem across the entire industry chain. Once operational, it will significantly enhance the capacity to produce high-end petrochemical products. Zhao Dong, General Manager of Sinopec Group, and Amin Nasser, President and CEO of Saudi Aramco, jointly witnessed the signing. Zhao Dong said that as a model project for China-Saudi Arabia energy cooperation, the Yanbu refinery has not only injected strong momentum into the Saudi local economy since its commissioning, but also made positive contributions to the upgrading of the petrochemical industry. The cooperation on this expansion project marks a deeper and broader level of partnership between the two parties. We will further unlock the potential for cooperation, urge both sides to reshape traditional energy cooperation models, explore new avenues for sustainable development, and jointly build world-class integrated refining and petrochemical enterprises with comprehensive competitive advantages to support the global energy transition. Amin Nasr said that this agreement further deepens and strengthens the strategic partnership between the two parties, while the planned expansion projects reinforce our commitment to product innovation and diversification. We look forward to continuing to strengthen our cooperation with Sinopec to turn the Yanbu refinery into a leading integrated oil refining and chemical enterprise, thereby helping Saudi Arabia reinforce its position as a leader in the global energy and chemicals sectors. The Yanbu Refinery is a world-leading refinery jointly built by Sinopec and Saudi Aramco; it represents an important implementation of both China’s Belt and Road Initiative and Saudi Arabia’s Vision 2030. Located in the Yanbu Industrial City in Saudi Arabia, it processes 430,000 barrels of Saudi heavy crude oil per day, producing refined oils and high-value-added products for supply to global markets.