Producer
Rongsheng Petrochemical
Operates ZPC (Zhejiang Petrochemical) on Zhoushan Island — 40 mtpa crude capacity, 8.8 mtpa PX, 4.2 mtpa ethylene. Total PTA capacity >20 mtpa. Saudi Aramco supplies 480k bpd under long-term contract. 8.1 mtpa polymerization, 8.6 mtpa polyester filament.
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Inputs supplied
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Goods downstream
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Facilities
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Stories
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What else they do
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Crude Oil Refining (ZPC)
35%Paraxylene (PX) & Aromatics
22%PTA & Polymerization
25%Polyester Filament & Fiber
18%
Intelligence
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Did you know2019
Saudi Aramco owns ~9% of Rongsheng Petrochemical and supplies it with 480,000 barrels/day of crude oil under a long-term agreement. This means the world's largest sovereign oil company (Saudi Arabia's national champion) is a direct financial partner in the world's largest private integrated PTA-polyester complex. Saudi Arabia's national income from crude oil sales is partially recycled through Aramco's equity into the Chinese company whose polyester output determines the cost of synthetic clothing for a billion consumers globally. The Saudi government and the Chinese fast fashion industry are aligned stakeholders in the same refinery complex — a geopolitical and supply chain connection that oil market analysts and apparel industry analysts track in entirely separate mental models.
Saudi Aramco ↗Origin2023
Rongsheng Petrochemical built the Zhejiang Petrochemical (ZPC) complex on Zhoushan Island in the East China Sea — one of the world's largest integrated refinery-petrochemical projects, with 40 million tonnes/year crude capacity. The project was financed partly through a strategic investment by Saudi Aramco, which took a ~9% stake in Rongsheng and committed to supply 480,000 barrels/day of Saudi crude under a long-term contract. ZPC was operational by 2020, representing China's largest private-sector energy infrastructure project and a key example of "petroleum security" vertical integration from Saudi wells through Chinese refineries to polyester fiber.
Rongsheng Petrochemical ↗