Zhejiang Petrochemical Corp, a major Chinese refiner backed by Saudi Aramco, is shutting a 200,000-barrel-per-day unit, reports Reuters. The refinery is bringing forward maintenance in response to the Middle East conflict’s impact on crude supply, it said on Tuesday.
Separately, another Chinese refiner backed by Aramco, Fujian Refining and Petrochemical, or FREP, shut its 80,000 bpd crude unit—its smallest—or an unspecified amount of time, two industry sources familiar with the matter said.
China, the world’s biggest oil importer, sources half its crude from the Middle East.