At the signing ceremony, standing from left, are YASREF Director Lian Mingxiang, Sinopec Group Assistant President and MD of HR Qin Du, Sinopec Group President Zhao Dong, Aramco President & CEO Amin H. Nasser, Aramco Downstream President Mohammed Y. Al Qahtani, and Aramco Executive Vice President of Products & Customers and YASREF Chairman Yasser M. Mufti. Sitting, from left, are Sinopec Overseas Investment Holding Limited President Zou Wenzhi, YASREF President & CEO Saad Bin Matlig, and Aramco Vice President of Liquid-to-Chemical Program Development Fahad Alsahali. Photo Credit: Saudi Aramco
DHAHRAN | April 09, 2025
Saudi Aramco and China Petroleum & Chemical Corporation (Sinopec) have taken a decisive step to elevate their joint venture, the Yanbu Aramco Sinopec Refining Company (YASREF), into a new era of petrochemical innovation and integration. Marking YASREF’s 10th anniversary, the two energy giants have signed a Venture Framework Agreement (VFA) to advance a major expansion of the YASREF complex, strategically located on Saudi Arabia’s west coast in Yanbu.
A Strategic Leap in Downstream Integration
The expansion project is designed to transform YASREF into a fully integrated refining and petrochemical powerhouse. Central to the plan is the construction of a state-of-the-art mixed-feed steam cracker with an annual ethylene capacity of 1.8 million tons, complemented by a 1.5 million tons per year aromatics complex and associated downstream derivatives.
These new facilities will be woven into the existing YASREF infrastructure, maximizing operational synergies and enabling the production of high-value petrochemical products to meet rising global demand.
The YASREF expansion is part of Aramco’s broader $100 billion liquids-to-chemicals program, which includes the development of multiple mixed-feed crackers both within Saudi Arabia and internationally
A Decade of Progress, A Future of Opportunity
YASREF, a joint venture owned 62.5% by Aramco and 37.5% by Sinopec, has been a symbol of dynamic China–Saudi energy cooperation since its inception.
Since commencing operations in 2015 with a crude refining capacity of 400,000 barrels of crude oil per day—expanded to 430,000 b/d in 2020—YASREF has played a key role in Saudi Arabia’s industrial landscape.
The planned expansion is expected to further enhance YASREF’s ability to deliver high-quality petrochemical products, support the energy transition, and foster long-term industrial partnerships between Saudi Arabia and China.
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