China's largest investment project in Saudi Arabia, the Yanbu refinery, has achieved the best level of efficiency in history

On December 8, the reporter learned from the Information Office of Sinopec that China's largest investment project in Saudi Arabia, Yanbu Refinery, bucked the trend this year and created strong results, with a net profit of more than 1.
4 billion US dollars in January ~ November, and the best level of operating efficiency in history
.

The Yanbu refinery is one of Sinopec's largest overseas downstream assets, a joint venture between Sinopec and Saudi National Oil Corporation with a total investment of more than US$8 billion
.
After years of development, Yanbu Refinery has gradually formed an international management model with capital as the link, technology as the traction and management as the support, and the production and operation level has reached the world's leading level, becoming a model project
for China's petrochemical industry to "go global".

Take capital as the link to enhance the global influence
of the brand.
In 2012, Sinopec acquired a 37.
5% shareholder interest in the Yanbu refinery, as well as special pick-up rights
in case of emergency.
Based on the Yanbu refinery, Sinopec actively cultivates and develops overseas markets for gasoline and diesel, petroleum coke, sulfur and other refined oil products, and continues to promote cooperation between China and Saudi Arabia in oil and gas exploration, petroleum trade, engineering services and other fields, and Sinopec's global influence and brand recognition as the world's largest oil refining enterprise continue to increase
.

With technology as the traction, the production operation is firmly in the world's leading
position.
Sinopec gave full play to its own technical advantages, and successively sent a number of expert groups to the site to carry out professional work such as engineering construction, equipment start-up, production operation, evaluation and audit, etc.
, and carried out in-depth on-site diagnosis and technical guidance to improve the level of
system optimization in the whole process.
In addition to extreme factors, the plant has maintained full capacity operation since 2015, increasing its maximum processing capacity to 430,000 barrels per day, processing 134 million tons of crude oil and producing 29.
52 million tons of gasoline and 79.
95 million tons
of diesel as of 2021.
In Solomon's performance evaluation, indicators such as plant operating rate and operation uptime rate are ranked first in
the three major regions of the Middle East, Europe and Asia-Pacific.

With the support of management, the comprehensive competitiveness continues to improve
.
Sinopec actively explores the integration of petroleum spirit and petrochemical tradition into the management system of Yanbu refinery, introduces successful management experience in terms of cost and operation into Yanbu refinery, promotes benchmarking analysis of Yanbu refinery with similar advanced enterprises such as Qingdao Refining and Chemical Copec, and promotes the continuous growth
of the profitability of Yanbu refinery.

In the future, Sinopec will continue to improve the strategic level of Yanbu Refinery, vigorously develop the international business of refining, and strive to build Yanbu Refinery into a model of "world-class, high-tech and integrated" green petrochemical base, opening a precedent and a new way
for Sinopec's international business to move towards high-quality development.