Saudi Aramco's Fujian Facility announces Full Commercial Operation 2 Quanzhou, China

On his part, Khalid A. Al-Falih, President and CEO of Saudi Aramco said that:
“The FREP project has brought together our three companies-and with the strong
support of the Fujian Provincial government-has resulted in a joint venture which
is a combination of the best our organizations have to offer. We at Saudi Aramco
are proud and privileged to be working with two other companies of this caliber,
and look forward to many more years of productive partnership and collaboration
here in Fujian Province.

“Ten years ago, China imported relatively little crude oil from us; now, it is
one of our top three markets, and is the fastest growing market for us globally. At
this moment, we are providing nearly a million barrels of crude oil to China each
and every day, accounting for a quarter of this country’s total imports and a
sizable portion of its overall energy requirements.

“In light of the volume of Saudi crude that now makes its way to these shores, it
is important to remember that the facilities you see behind me are only part of
Saudi Aramco’s investment in ensuring a reliable supply of energy to China, which
also include tens of billions of dollars invested in our upstream sector, and
indeed all along the value chain to provide the Chinese people with the petroleum
products they need and rely upon.

The unique advantages of FREP lie in its adoption of internationally advanced
technologies and management expertise, reliable crude supply and proximity to the
market along China’s southeastern coast."
--SPA 11:58 LOCAL TIME 08:58 GMT NNNN