BEIJING (XFN-ASIA) - Saudi Aramco is expected to sell 41 pct more crude oil to China Petroleum & Chemical Corp (Sinopec) this year, the official China Daily reported.
Mohammed Al-Madi, regional vice-president and chief representative of Saudi Aramco in Beijing, was quoted as saying that Saudi Aramco is looking to deliver 32.4 mln tons of crude, equivalent to 650,000 barrels per day, to Sinopec, compared with nearly 23 mln tons in 2007.
The Saudi company expects to increase exports to 1 mln bpd by 2010 and 1.5 mln bpd by 2015, he said.
Saudi Aramco is an equity partner in Sinopec's 5 bln usd Fudian refinery and chemical project, due to enter operations in early 2009.
kelly.zang@xfn.com
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