Saudi Aramco has begun talking to prospective buyers for products from its Fujian Refining and Petrochemical Company (FREP) complex at Quangzhou in China's Fujian province, as per Platts. FREP is a joint venture between Fujian Petrochemical Co. (50%), ExxonMobil China Petroleum and Petrochemical Co. (25%) and Saudi Aramco Sino Co. (25%). Fujian Petrochemical is a 50:50 JV between Sinopec and the Fujian provincial government.
The first offer is expected to be made in early January 2013, instead of the earlier announced November. Saudi Aramco will sell about 330,000 tpa of polymers from FREP, including about 100,000 tpa of low density polyethylene, 100,000 tpa of linear low density polyethylene, 100,000 tpa of high density polyethylene and 130,000 tpa of polypropylene.
FREP production facilities comprise an 800,000 tpa steam cracker, a 400,000 tpa PP plant, a 400,000 tpa LLDPE plant, a 400,000 tpa HDPE plant, a 120,000 tpa butadiene plant, a 700,000 tpa paraxylene plant and a 260,000 tpa benzene plant at Quanzhou.
Sales of Aramco's share of products produced by FREP have so far been handled by Saudi Basic Industries Co., or Sabic, which has a sales network in China. Saudi Aramco recently set up an office at Quanzhou and hired its own staff to handle the sales of its products.
28-Nov-12 
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