Yanbu Aramco Sinopec Refining Company (YASREF) Ltd.

Yanbu Aramco Sinopec Refining Company Ltd., a joint venture between Saudi Aramco and China Petrochemical Corporation ( Sinopec). A world-class, full-conversion refinery that covers about 5.2 million square meters in the Yanbu Industrial City, and is considered to be a key anchor project for the future of Yanbu. YASREF will use 400,000 barrels per day (bpd) of Arabian heavy crude oil to produce premium transportation fuels, as well as high-value refined products for both international and domestic markets. It is scheduled to be operational in Q3 2014. YASREF signifies the impressive downstream portfolio added to Saudi Aramco, yet building and cementing on the strategic partnership with Sinopec – Saudi Aramco’s largest crude oil partner and buyer – Both companies bring commercial and technical expertise to the joint venture to enhance trade of transportation fuels between a significant energy producer and its consumer. In addition, YASREF represents a continuing step forward in the strategies of Saudi Aramco and Sinopec to drive growth further downstream to capture additional value along the hydrocarbon chain. YASREF was registered in January 2012 with the single purpose to establish, operate, and manage a full conversion-refining complex. YASREF possesses the location advantage to effectively and efficiently supply both international and domestic markets. The products include 90,000 bpd of gasoline, 263,000 bpd of ultra-low sulfur diesel, 6,200 metric tons per day (mtd) of petcoke, 1,200 (mtd) of sulfur, and 140,000 tons per year of benzene. YASREF will process Arabian Heavy crude oil into high-quality refined products that could include future production of Paraxylene and products to support downstream industries.