Fujian Refining & Petrochemical Company Limited (FREP) is a large-scale petrochemical enterprise jointly invested by Fujian Petrochemical Company Limited (FPCL, jointly invested by Sinopec and Fujian Government), ExxonMobil China Petroleum & Petrochemical Company Limited (EMCP&P) and Saudi Aramco Asia Company Limited (SAAC) with a total investment of appr. RMB40 billion in a proportion of 50%：25%：25% respecsively, aiming at building and operating a world-class high-tech integrated petrochemical facilities.
The Company is located at the South Coast of Meizhou Bay in Quangang District, Quanzhou City, Fujian Province, southeast coastal area of China, with a coverage of about 530 hectares, enjoying convenient traffic and superior geographic location. The dedicated crude and product oil berths are located at the deep and open waters along the Fujian coast with a total designed throughput of 18 million tons per year.
Since its establishment, FREP has endeavored to sustainable development. In November of 2009, Fujian Integrated Refining & Ethylene Project -- the first and single largest sino-foreign investment of an integrated refining & petrochemical joint venture project in China – was put into commercial operation and increased FREP’s refining capacity from 4MTA (80K bbl/day) to 12MTA (240K bbl/day). The newly-built series of large-scale chemical units, such as Steam Cracker, Polyethylene, Polypropylene and Aromatics were put into operation smoothly and simultaneously. At the end of 2013, FREP completed steam cracking debottleneck revamp when further upgrading oil product quality and optimizing the product mix.
FREP utilized the world's advanced automation technologies in FREP operation to realize the integrated management and control of a digital plant, ensuring the stable and optimal operation of the facilities. Through scientific management and precise control of operation process, FREP produces high the quality petrochemical products, and provide clean energy to the social economic development. Annually, FREP supplies more than 7 million tons of high quality petroleum products, more than 1.6 million tons of polyolefin plastic materials, more than 1.8 million tons of basic chemical materials for chemical fiber, rubber, polyester and other chemical production. FREP chemical products mainly include polyethylene, polypropylene, para-xylene, petroleum benzene, butadiene, ethylene oxide, ethylene glycol, toluene, mixed xylene, heavy aromatics, naphthalene, industrial cracking C5, ethylene, propylene, diethylene glycol, triethylene glycol etc.. Refining products mainly include motor gasoline, light diesel oil, 3# jet fuel, paving asphalt, liquefied petroleum gas (LPG), delayed coke, sulfur (liquid/solid), light/heavy fuel oil and white oil etc.
FREP has endeavored to realize harmonious development of health, safety and environment, minimizing the influence caused by the operation activity to the environment. Meanwhile, FREP has kept promoting the performance in all business areas to maintain the competitive edge and profitability of the Company. We keep strengthening the partnership with the affiliates like clients and suppliers, and faciliate them to make bigger successes through providing quality products and services, thus creating win-win for all parties. In addition, FREP has always been attaching great importance to the active implementation of corporate social responsibility to return the society in all kinds of ways, committing to become the most popular company among the employees, the most reliable partner among all affiliates such as customers/suppliers and the good neighbor to the surrounding communities.
Basic information of shareholders:
Fujian Petrochemical Company Limited is a refining enterprise owned by China Petroleum and Petrochemical Corp (Sinopec) and Fujian Petrochemical Industrial Company with a share of 50%:50%. It was established and put into operation in September 1993. In June 2007, an asset of 4 million t/a main refinery business was injected to Fujian Refining & Petrochemical Company Limited.
ExxonMobil China Petroleum & Petrochemical Company Limited, registered in Bahamas in 1997, is a wholly owned affiliate of Exxon Mobil Corporation. Headquartered in Irving, Texas, USA，Exxon Mobil Corporation is the world's largest publicly traded petroleum and natural gas company.
Saudi Aramco Asia Company Limited is an affiliate wholly owned by Saudi Aramco Company registered according to Saudi Arabian law. Registered in Dhahran, Saudi Arabia, Saudi Aramco Company is largest petroleum production and export company in the world, engaged in operating, maintaining and managing the petroleum and natural gas resources in Saudi Arabia.
China Petroleum and Petrochemical Corporation (Sinopec) is a public holding company by China Petrochemical Company in China. Its business includes: exploring, developing, manufacturing and marketing of crude oil and natural gas, refining of crude oil, trade, transportation and marketing of petroleum products, manufacturing and marketing of petrochemical products, etc.
Fujian Petrochemical Industrial Company is an affiliate wholly owned by Fujian Petrochemical Group Company Limited,which is an investment institute and a state-owned assets operation company authorized by Fujian Provincial Government, mainly engaged in investment and trade of refining and petrochemical industry, manufacturing, operation, scientific research and design of chemicals and fertilizer etc.