The companies have signed an MoU aimed at strengthening cooperation across crude oil sourcing and the marketing of refining and petrochemical products and LNG in Thailand.
Aramco's subsidiary, SAAC, has signed a Memorandum of Understanding (MoU) with Sinopec for potential downstream collaboration in China.
The companies have signed a joint collaboration and license agreement to co-develop and license Saudi Aramco's Heavy Oil Processing Initiative (HOPI+) technology.
Technip Energies has been awarded an EPC contract by Borouge for the construction of a new ethane cracker unit, to be integrated in the Borouge 4 petrochemical complex in the UAE.
The company has continued its multi-year achievements of zero lost time incidents and a zero total recordable incident rate.
With the US$69 billion acquisition of SABIC in June and investments in oil-to-chemicals technology, Aramco has positioned itself for downstream growth.
SABIC has said the two companies are now considering the integration of Saudi Aramco’s existing refineries in Yanbu with a mixed feed steam cracker and downstream olefin derivative units.
Sumitomo Chemical and Saudi Aramco have made a loan of US$2 billion to Petro Rabigh in response to the challenging market conditions.
Siemens Energy is to supply 20 compression trains for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage project.