China's largest oil refiner, Sinopec, is considering setting up a joint venture with Saudi Aramco and US-based ExxonMbil to build an oil refinery able to process 12 million tonnes of crude per year in Fujian, China Daily has reported, citing a source familiar with the deal. The complex would also produce one million tonnes of ethylene per year. The three companies have started a feasibility study on the project.
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