ISLAMABAD The governments of China and Pakistan are anticipated to sign a memorandum of understanding (MoU) on the crude-to-petrochemical refinery project during Prime Minister Shehbaz Sharif’s June visit to Beijing, according to a story published on Friday by The News.
During PM Shehbaz’s visit, Pakistan and China are expected to sign a Memorandum of Understanding about the refinery project, a senior Ministry of Energy official informed The News.
Saudi Aramco, Sinopec, and Pakistan State Oil may decide to collaborate on a research to determine whether or not the crude-to-petrochemical refinery will be profitable and advantageous for the aforementioned three parties. The outcomes of the collaborative study will open the door for funding for the suggested project.
The collaborative study’s completion will determine the project’s scope and size, the official stated.
Regarding the refinery project, the ministry officer stated that Sinopec in China was in communication with the national authorities. Saudi Aramco is leaning more toward the petrochemical refinery than the green refinery, therefore it is awaiting the findings of the joint research before making a final investment decision.
“Sinopec and Saudi Aramco will determine whether or not to participate in a petrochemical refinery following that (study),” the official stated.
Additionally, the Kingdom of Saudi Arabia desires Sinopec to be given the engineering, procurement, and construction (EPC) contract. In order to do this, Pakistan State Oil, a representative of the Pakistani government, is in contact with
