Latest news with #MohammedY.AlQahtani


Asharq Al-Awsat
09-04-2025
- Business
- Asharq Al-Awsat
Aramco, Sinopec and Yasref Sign Venture Framework Agreement for Petrochemical Expansion
Saudi Aramco, China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) announced the signing of a Venture Framework Agreement (VFA) to pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia. According to a press release from Aramco, the agreement, coinciding with Yasref's 10th anniversary, seeks to advance engineering studies for the development of a fully integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%). The project aims to maximize operational synergies and create additional value by introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex. This is expected to enhance Yasref's ability to meet the growing demand for high-quality petrochemical products, SPA reported. President and CEO of Saudi Aramco Amin H. Nasser said, "The Yasref Venture Framework Agreement further deepens and elevates our strategic partnership with Sinopec. The planned expansion project solidifies our commitment to product innovation and diversification. As we look forward to strengthening our collaboration with Sinopec in making Yasref a leading refining and petrochemicals joint venture, we aim to contribute to growing Saudi Arabia's position as a global leader in energy and chemicals." Aramco Downstream President Mohammed Y. Al Qahtani stated, "The planned Yasref expansion aligns with our downstream strategy to unlock the full potential of our resources, including converting up to four million barrels per day of crude oil into petrochemicals by 2030. In partnership with Sinopec, we aim to advance cutting-edge refining and petrochemical capabilities to deliver high-value products, create new opportunities, drive industrial innovation, and enable economic transformation. This highlights our strategic, long-term partnership with Sinopec." Sinopec President Zhao Dong emphasized, "Yasref, a flagship joint venture symbolizing China-Saudi energy cooperation, has not only served as a key driver for Saudi Arabia's local economic growth but also actively advanced petrochemical industry upgrades. We expect the Yasref expansion project to unlock new dimensions of collaborative potential as we navigate the energy transition. Sinopec and Aramco are poised to establish a world-class, integrated refining and petrochemical complex distinguished by comprehensive competitive advantages, aiming to redefine traditional energy cooperation models and expand new frontiers for more sustainable development." The release also noted that Yasref is one of several strategic partnerships between Aramco and Sinopec. These collaborations include Sinopec Senmei (Fujian) Petroleum Company (SSPC), Sinopec SABIC Tianjin Petrochemical Co. (SSTPC), Fujian Refining & Petrochemical Company (FREP), and a new integrated refining and petrochemical complex under development in Fujian Province, China. Through these ventures, the two groups aim to strengthen energy security, fuel industrial innovation, foster long-term cooperation, and contribute to the global economy.


Trade Arabia
09-04-2025
- Business
- Trade Arabia
Aramco, Sinopec and Yasref ink deal for petchem plant expansion
Aramco, one of the world's leading integrated energy and chemicals companies, today (April 9) announced the signing of a Venture Framework Agreement (VFA) with China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) that will pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia. Coinciding with Yasref's 10th anniversary, the agreement seeks to advance engineering studies for the development of a fully-integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%). The project aims to maximize operational synergies and create additional value through introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tonne per year capacity, and a 1.5 million tonne per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex. This is expected to enhance Yasref's ability to meet growing demand for high-quality petrochemical products. On the new pact, Aramco President & CEO Amin H. Nasser said: "The Yasref Venture Framework Agreement further deepens and elevates our strategic partnership with Sinopec. The planned expansion project solidifies our commitment to product innovation and diversification." "As we look forward to strengthening our collaboration with Sinopec in making Yasref a leading refining and petrochemicals joint venture, we aim to contribute to growing Saudi Arabia's position as a global leader in energy and chemicals," he stated. Mohammed Y. Al Qahtani, Aramco Downstream President said: "Our strong relationship with Sinopec continues to build momentum. The planned Yasref expansion aligns with our downstream strategy to unlock the full potential of our resources, including converting up to four million barrels per day of crude oil into petrochemicals by 2030." "In partnership with Sinopec, we aim to advance cutting-edge refining and petrochemical capabilities to deliver high-value products, create new opportunities, drive industrial innovation, and enable economic transformation. This highlights our strategic, long-term partnership with Sinopec and it is fitting that the announcement of this project coincides with Yasref's 10th anniversary," he added. Sinopec President Zhao Dong said: "Yasref, a flagship joint venture symbolizing China-Saudi energy cooperation, has not only served as a key driver for Saudi Arabia's local economic growth but also actively advanced petrochemical industry upgrades." "The Yasref expansion project represents a significant milestone in our bilateral partnership, ushering in a new phase of deeper and more far-reaching collaboration," stated Dong. "We expect the Yasref expansion project to unlock new dimensions of collaborative potential as we navigate the energy transition. Sinopec and Aramco are poised to establish a world-class, integrated refining and petrochemical complex distinguished by comprehensive competitive advantages, aiming to redefine traditional energy cooperation models and expand new frontiers for more sustainable development," he added. Yasref is one of a number of strategic partnerships between Aramco and Sinopec, which also include Sinopec Senmei (Fujian) Petroleum Company (SSPC); Sinopec SABIC Tianjin Petrochemical Co. (SSTPC); Fujian Refining & Petrochemical Company (FREP); and a new integrated refining and petrochemical complex being developed in Fujian Province, China.


Zawya
09-04-2025
- Business
- Zawya
Aramco, Sinopec and Yasref sign Venture Framework Agreement for planned petrochemical expansion
Engineering studies underway for new, fully-integrated petrochemical complex at Yasref refinery in Yanbu Planned expansion would integrate advanced petrochemical facilities at Yasref, enhancing production capabilities and diversifying output Announcement coincides with Yasref's 10th anniversary DHAHRAN, Saudi Arabia – Aramco, one of the world's leading integrated energy and chemicals companies, China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) today announced the signing of a Venture Framework Agreement (VFA) intended to pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia. Coinciding with Yasref's 10th anniversary, the agreement seeks to advance engineering studies for the development of a fully-integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%). The project aims to maximize operational synergies and create additional value through introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex. This is expected to enhance Yasref's ability to meet growing demand for high-quality petrochemical products. Amin H. Nasser, Aramco President & CEO, said: 'The Yasref Venture Framework Agreement further deepens and elevates our strategic partnership with Sinopec. The planned expansion project solidifies our commitment to product innovation and diversification. As we look forward to strengthening our collaboration with Sinopec in making Yasref a leading refining and petrochemicals joint venture, we aim to contribute to growing Saudi Arabia's position as a global leader in energy and chemicals.' Mohammed Y. Al Qahtani, Aramco Downstream President said: 'Our strong relationship with Sinopec continues to build momentum. The planned Yasref expansion aligns with our downstream strategy to unlock the full potential of our resources, including converting up to four million barrels per day of crude oil into petrochemicals by 2030. In partnership with Sinopec, we aim to advance cutting-edge refining and petrochemical capabilities to deliver high-value products, create new opportunities, drive industrial innovation, and enable economic transformation. This highlights our strategic, long-term partnership with Sinopec and it is fitting that the announcement of this project coincides with Yasref's 10th anniversary.' Zhao Dong, Sinopec President, said: 'Yasref, a flagship joint venture symbolizing China-Saudi energy cooperation, has not only served as a key driver for Saudi Arabia's local economic growth but also actively advanced petrochemical industry upgrades. The Yasref expansion project represents a significant milestone in our bilateral partnership, ushering in a new phase of deeper and more far-reaching collaboration. We expect the Yasref expansion project to unlock new dimensions of collaborative potential as we navigate the energy transition. Sinopec and Aramco are poised to establish a world-class, integrated refining and petrochemical complex distinguished by comprehensive competitive advantages, aiming to redefine traditional energy cooperation models and expand new frontiers for more sustainable development.' Yasref is one of a number of strategic partnerships between Aramco and Sinopec, which also include Sinopec Senmei (Fujian) Petroleum Company (SSPC); Sinopec SABIC Tianjin Petrochemical Co. (SSTPC); Fujian Refining & Petrochemical Company (FREP); and a new integrated refining and petrochemical complex being developed in Fujian Province, China. Through such projects, the two groups aim to strengthen energy security, fuel industrial innovation, foster long-term co-operation, and contribute to the global economy. Aramco Contact Information Media Relations: Sinopec Contact Information Media Relations: liushan@ About Aramco As one of the world's leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world. About Sinopec Sinopec (China Petroleum & Chemical Corporation) is a listed company on domestic and international stock exchanges with integrated upstream, midstream and downstream operations, and strong oil & petrochemical core businesses. Sinopec Group (China Petrochemical Corporation), the holding parent company of Sinopec, is the largest refining company and the second largest chemical company in the world. It has been ranking among the top 5 on Fortune's Global 500 List for many years. Disclaimer The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as 'target,' 'believe,' 'expect,' 'aim,' 'intend,' 'goal,' 'may,' 'anticipate,' 'estimate,' 'plan,' 'project,' 'can have,' 'likely,' 'should,' 'could,' and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco's ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco's growth; the management of the Company's subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco's exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company's latest periodic reports filed with the Saudi Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company's latest periodic reports filed with the Saudi Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.


Zawya
14-02-2025
- Business
- Zawya
Aramco Downstream President Mohammed Y. Al Qahtani elected to prestigious U.S. National Academy of Engineering
DHAHRAN, Saudi Arabia – Aramco Downstream President Mohammed Y. Al Qahtani has been elected as an international member of the prestigious U.S. National Academy of Engineering (NAE). The NAE is a non-profit institution that provides independent advice on matters involving engineering and technology, increases the public's appreciation and knowledge of engineering, and helps to promote a vibrant engineering profession. Election to NAE is one of the highest professional distinctions given to engineers. Mr. Al Qahtani is the first Saudi citizen elected to the NAE since its foundation in 1964. The NAE's more than 2,800 peer-elected members and international members, who include senior professionals in business, academia, and government, are considered to be among the world's most accomplished engineers. These individuals have outstanding technical achievements and leadership skills and have made exceptional contributions in at least one of the following categories: 'engineering practice, research, or education,' 'pioneering of new and developing fields of technology, major advancements in traditional fields of engineering, or development/implementation of innovative approaches to engineering education' or 'engineering leadership of one or more major endeavors.' Members help to guide the direction of important research fields, create dialogue about critical issues, and inform public knowledge. They additionally give their time and skills to significant projects that connect engineering, technology, and quality of life. This recognition reflects Aramco's efforts towards engineering excellence and technology innovation. Mr. Al Qahtani was elected to the NAE as part of the Class of 2025 for his leadership and contributions in carbon management in oil and gas operations. Mr. Al Qahtani and others in the newly elected class will be formally inducted during the NAE's Annual Meeting on October 5. Only 22 international members have been elected to the Class of 2025, bringing the total number of international members to 336 since the NAE's inception. Mr. Al Qahtani said: 'I'm delighted to be elected to the U.S. National Academy of Engineering as an international member. This moment is a personal milestone that reflects the crucial contributions of Aramco in core engineering fields. As the Company continues to support innovations across the hydrocarbon value chain, with the aim of addressing key issues such as energy security and emissions reduction, I hope to bring a unique perspective to the National Academy of Engineering, and I look forward to collaborating with fellow members to help identify impactful solutions to complex challenges. This recognition reflects Aramco's efforts in carbon management, lower-carbon technology and liquid-to-chemicals solutions, maintaining one of the lowest Upstream carbon and methane intensities in the industry, and our technologies for promoting sustainability, which help us continue to thrive and remain one of the world's leading integrated energy and chemicals companies. I am proud to be part of such an incredible team.' Amin H. Nasser, Aramco President & CEO, congratulated Al Qahtani on his election to the Academy, saying: 'This recognition reflects Mohammed's distinguished career and leadership, as well as his significant contributions to the engineering field — achievements that we take great pride in. It's also a testament to Aramco's well-established programs and efforts in developing human capital – Mohammed started his career at Aramco as a young petroleum engineer, and quickly established himself not only as a professional but also as a highly-regarded leader across various organizations of the company. Without a doubt, as the first Saudi to receive this prestigious honor, Mohammed will serve as an inspiration for young Saudis at Aramco and across the Kingdom in various fields.' Mr. Al Qahtani became Aramco Downstream President on July 1, 2023, having held the position of Downstream Executive Vice President since September 13, 2020. In addition to leading Aramco's Downstream organization, Mr. Al Qahtani is Chairman of Aramco Trading Company, Motiva Enterprises, and Saudi Aramco Total Refining and Petrochemical Company (SATORP). He is also Vice-Chairman of Saudi Basic Industries Corporation (SABIC) and a board member of the Saudi Arabian Mining Company (Ma'aden), S-Oil, the Dhahran Techno Valley Holding Company, and a member of the Board of Advisors for the Bilateral US-Arab Chamber of Commerce. Other boards on which he has previously served include the Saudi Aramco Jubail Refinery Company (SASREF), the King Salman Energy City (SPARK) Development Company, the Saudi Council of Engineers, the Arabian Geophysical & Surveying Company, the Pengerang Refining Company and Pengerang Petrochemical (collectively known as PRefChem), and the International Society of Petroleum Engineers. Over the course of his career at Aramco, Mr. Al Qahtani has held leadership roles spanning the Corporate, Upstream, and Downstream sectors. In 2007, he was President and CEO of Aramco Services Company in Houston, Texas. In 2008, he was appointed Aramco's Chief Petroleum Engineer. In 2009, he assumed the position of Executive Director and then Vice President of Petroleum Engineering & Development, followed by roles as Vice President of Aramco Corporate Affairs and Vice President of Corporate Planning. Mr. Al Qahtani graduated with a Bachelor of Science degree in Petroleum Engineering from King Fahad University of Petroleum & Minerals in 1988, followed by a Master's degree and Doctorate in the same field from the University of Southern California in 1992 and 1996, respectively. He has taken part in several leadership and management training programs, including the IMD Leadership Program in Lausanne, Switzerland; the Saudi Aramco Management Development Seminar in Washington, D.C.; and the Oil Economies Seminar and the Oxford Energy Seminar, both in London. Mr. Al Qahtani is also a lifetime honorary member of the Society of Petroleum Engineers. For more information on the NAE's Class of 2025, visit: LINK


Trade Arabia
13-02-2025
- Business
- Trade Arabia
Aramco executive elected to US National Academy of Engineering
Saudi oil giant Aramco has announced that its Downstream President Mohammed Y. Al Qahtani has been elected as an international member of the prestigious US National Academy of Engineering (NAE). Al Qahtani is the first Saudi citizen elected to the NAE since its foundation in 1964. The NAE is a non-profit institution that provides independent advice on matters involving engineering and technology, increases the public's appreciation and knowledge of engineering, and helps to promote a vibrant engineering profession. Election to NAE is one of the highest professional distinctions given to engineers. Its more than 2,800 peer-elected members and international members, who include senior professionals in business, academia, and government, are considered to be among the world's most accomplished engineers. These individuals have outstanding technical achievements and leadership skills and have made exceptional contributions in at least one of the following categories: 'engineering practice, research, or education,' 'pioneering of new and developing fields of technology, major advancements in traditional fields of engineering, or development/implementation of innovative approaches to engineering education' or 'engineering leadership of one or more major endeavors.' According to Aramco, the NAE members help to guide the direction of important research fields, create dialogue about critical issues, and inform public knowledge. They additionally give their time and skills to significant projects that connect engineering, technology, and quality of life, it stated. This recognition reflects Aramco's efforts towards engineering excellence and technology innovation, it added. Al Qahtani was elected to the NAE as part of the Class of 2025 for his leadership and contributions in carbon management in oil and gas operations. He along with others in the newly elected class will be formally inducted during the NAE's Annual Meeting on October 5. Only 22 international members have been elected to the Class of 2025, bringing the total number of international members to 336 since the NAE's inception. On the appointment, Al Qahtani said: "I'm delighted to be elected to the US National Academy of Engineering as an international member. This moment is a personal milestone that reflects the crucial contributions of Aramco in core engineering fields." "As the company continues to support innovations across the hydrocarbon value chain, with the aim of addressing key issues such as energy security and emissions reduction, I hope to bring a unique perspective to the National Academy of Engineering, and I look forward to collaborating with fellow members to help identify impactful solutions to complex challenges." "This recognition reflects Aramco's efforts in carbon management, lower-carbon technology and liquid-to-chemicals solutions, maintaining one of the lowest Upstream carbon and methane intensities in the industry, and our technologies for promoting sustainability, which help us continue to thrive and remain one of the world's leading integrated energy and chemicals companies. I am proud to be part of such an incredible team," he added. Lauding the key achievement, Amin H. Nasser, Aramco President & CEO, said: "This recognition reflects Mohammed's distinguished career and leadership, as well as his significant contributions to the engineering field - achievements that we take great pride in." "It's also a testament to Aramco's well-established programs and efforts in developing human capital - Mohammed started his career at Aramco as a young petroleum engineer, and quickly established himself not only as a professional but also as a highly-regarded leader across various organizations of the company," observed Nasser. "Without a doubt, as the first Saudi to receive this prestigious honor, Mohammed will serve as an inspiration for young Saudis at Aramco and across the Kingdom in various fields," he added. Al Qahtani became Aramco Downstream President on July 1, 2023, having held the position of Downstream Executive Vice President since September 13, 2020. In addition to leading Aramco's Downstream organization, he is also Chairman of Aramco Trading Company, Motiva Enterprises, and Saudi Aramco Total Refining and Petrochemical Company (SATORP). Al Qahtani is also Vice-Chairman of Saudi Basic Industries Corporation (SABIC) and a board member of the Saudi Arabian Mining Company (Ma'aden), S-Oil, the Dhahran Techno Valley Holding Company, and a member of the Board of Advisors for the Bilateral US-Arab Chamber of Commerce. Other boards on which he has previously served include the Saudi Aramco Jubail Refinery Company (SASREF), the King Salman Energy City (SPARK) Development Company, the Saudi Council of Engineers, the Arabian Geophysical & Surveying Company, the Pengerang Refining Company and Pengerang Petrochemical (collectively known as PRefChem), and the International Society of Petroleum Engineers, said the statement. Over the course of his career at Aramco, Al Qahtani has held leadership roles spanning the Corporate, Upstream, and Downstream sectors. In 2007, he was President and CEO of Aramco Services Company in Houston, Texas. In 2008, he was appointed Aramco's Chief Petroleum Engineer. The next year, he assumed the position of Executive Director and then Vice President of Petroleum Engineering & Development, followed by roles as Vice President of Aramco Corporate Affairs and Vice President of Corporate Planning. Al Qahtani graduated with a Bachelor of Science degree in Petroleum Engineering from King Fahad University of Petroleum & Minerals in 1988, followed by a Master's degree and Doctorate in the same field from the University of Southern California in 1992 and 1996, respectively. He has taken part in several leadership and management training programmes, including the IMD Leadership Program in Lausanne, Switzerland; the Saudi Aramco Management Development Seminar in Washington, D.C.; and the Oil Economies Seminar and the Oxford Energy Seminar, both in London. Al Qahtani is also a lifetime honorary member of the Society of Petroleum Engineers.-