The recently registered Yanbu Aramco Sinopec Refining Company or YASREF is a joint venture with Saudi Aramco retaining 62.5% equity share and China Petrochemical Corporation (Sinopec) retaining 37.5% equity share in the company. YASREF is a full-conversion world class refinery that will be built to manage 400,000 barrels per day. It is located in Yanbu Industrial City along the Red Sea, on the west coast of Saudi Arabia.
The Saudi Arabian Oil Company (Saudi Aramco) is the state-owned oil company of the Kingdom of Saudi Arabia. We rank first among oil companies worldwide in terms of crude oil production and exports, and natural gas liquids (NGL) exports, and are among the leading producers of natural gas. We are also among the world’s leading refiners and are moving further downstream into chemicals production.
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group is a state-owned company solely invested by the State, functioning as a state-authorized investment organization in which the state holds the controlling share. Headquartered in Beijing, Sinopec Group has a registered capital of RMB 182 billion.
The Yanbu Aramco Sinopec Refining (YASREF) Company, Ltd. (formally Red Sea Refining Company or RSRC) is now a joint venture company, owned by Saudi Aramco and China Petrochemical Corporation (Sinopec). Learn More