Aramco refinery likely to be included in CPEC framework

ISLAMABAD (PEN) : The Government of Pakistan is considering integrating a $10 billion Saudi Aramco refinery project into the China Pakistan Economic Corridor (CPEC), according to sources in the Petroleum Division. Talks between Pakistani officials and representatives from Sinopec Engineering Group (SEG) in Beijing revealed Aramco’s proposal to involve Sinopec as a technical and equity partner in the refinery project. Despite initial enthusiasm, Aramco’s interest shifted towards petrochemical complexes, citing market dynamics, prompting discussions about potential involvement of Sinopec as an equity investor.