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Aramco, SINOPEC, and Fujian Petrochemical break ground on new refining and petrochemical project in China

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4 hours ago

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  • Greenfield project is expected to be fully operational by end of 2030 
  • Integrated refining and petrochemical project aims to maximize chemical output 
  • Complex expected to supply around five million tons per year of feedstock to Gulei Petrochemical Base

DHAHRAN, Saudi Arabia, Nov. 18, 2024 /PRNewswire/ — Aramco, one of the world’s leading integrated energy and chemicals companies, China Petroleum & Chemical Corporation (SINOPEC), and Fujian Petrochemical Company Limited (FPCL) have today broken ground on a new integrated refining and petrochemical complex in Fujian Province, China.

The facility is planned to have a 16 million tons-per-year oil refining unit (320,000 barrels per day), a 1.5 million tons-per-year ethylene unit, a two million tons paraxylene and downstream derivatives capacity, and a 300,000 tons crude oil terminal. FPCL, a 50:50 joint venture between SINOPEC and Fujian Petrochemical Industrial Group Company, will own a 50% stake in the complex, with Aramco and SINOPEC each taking a 25% stake. The project is expected to be fully operational by the end of 2030.

Mohammed Y. Al Qahtani, Aramco Downstream President, said: “Building on our strong relationships with both SINOPEC and Fujian Petrochemical, today’s groundbreaking further expands Aramco’s growing downstream investment portfolio in China. We will supply in excess of one million barrels per day of our crude oil to these high chemical conversion assets in China, reinforcing Aramco’s role as a reliable and long-term partner in China’s development. This also advances our liquids-to-chemicals strategy, through which we intend to direct more of our crude towards helping meet rising global petrochemicals demand.”  

Ma Yongsheng, SINOPEC Chairman, said: “Both SINOPEC and Aramco are committed to promoting the high-quality development of the petroleum and petrochemical industry. Aramco’s participation supplies long-term reliable and competitive feedstock for the project and further boosts the healthy development of Gulei Petrochemical Base. Successful cooperation in this project marks a new milestone in the China-Saudi all-weather strategic partnership, with a focus on greater domestic circulation and in line with the dual circulation strategy.”

@aramco

About Aramco

Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com 

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,” “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 Stock 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 Stock 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.

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WinesDirect Awards Reveal Top Wine Supermarkets, Clubs and Brands of 2024 as Voted by Over 1750 Wine Lovers

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3 hours ago

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November 18, 2024

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  • UK wine comparison website polled over 1750 wine lovers for 2024 Awards
  • Awards categories included best supermarket, club and merchant for wine
  • Best wine and champagne brands also chosen by popular vote
  • Tesco win Wine Supermarket of the Year with diverse and affordable range

GUILDFORD, England  , Nov. 18, 2024 /PRNewswire/ — WinesDirect, leading UK wine offers and pricing comparison website reveals the winners of its annual WinesDirect Awards including Best Wine Supermarket, Best Large Wine Merchant, Best Wine Club and Best Wine & Champagne Brands.

The WinesDirect Awards reflects the opinions of over 1750 wine lovers who were polled over a seven-day period this September. As well as stating their favourite supermarket, large merchant, club and brands, participants were also asked to explain their choices. The winner was the nomination with the most votes in each category.

The winners of each category are:

  • Tesco – Wine Supermarket of the Year
  • Majestic – Large Wine Merchant of the Year
  • Laithwaites – Wine Club of the Year
  • Yellow Tail – Wine Brand of the Year
  • Bollinger – Champagne Brand of the Year

David Andrews DipWSET, who writes tasting notes for WinesDirect, says:

“We are thrilled by this year’s record-breaking number of respondents; it is the highest participation on our annual awards survey we have ever received. Congratulations to all winners and highly commended supermarkets, wine clubs, and merchants of 2024!”

Supermarket of the Year

Tesco is crowned Wine Supermarket of the Year, earning praise for its diverse and affordable wine selection. Sainsbury’s is Highly Commended as respondents rave about its impressive array of international wines and exclusive deals.

Large Wine Merchant of the Year

Majestic has been awarded Large Wine Merchant of the Year it’s wide range and the expertise of its staff setting it apart from the competition. Laithwaites followed closely; respondents praised the company’s dedication to organic and sustainable options.

The survey results suggest that when shopping with wine merchants, customer service and a personalised, engaging shopping experience is most important.

Wine Club of the Year

Wine Club of the Year is awarded to Laithwaites due to its flexibility, customisable experience and positive community. Naked Wines secured the second spot with the WinesDirect audience applauding their money-back guarantee and mission to supporting emerging winemakers.

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Wine Brand of the Year

Yellow Tail wins Wine Brand of the Year, celebrated for its consistent quality, affordability and versatility in pairing with a wide range of dishes. Oyster Bay is Highly Commended for its refined, elegant and refreshing taste, all at an accessible price point.

Champagne Brand of the Year

Bollinger claims top spot for Champagne Brand of the Year with fans praising its luxurious feel, timeless charm and ability to elevate any occasion. Veuve Clicquot is close on its heels for its crisp, refreshing taste balanced by the right amount of fizz.

About WinesDirect

Established in 2005, WinesDirect is a website helping its users discover the best wine deals by showcasing offers from over 50 merchants and supermarkets. The site allows user to easily browse and compare the prices of an extensive selection of wines, beers and spirits. With the ability to set a price alert as well as being able to have side-by-side price comparisons, finding the best value for your money is effortless with WinesDirect.

In 2024, WinesDirect expanded its reach to the USA to help American consumers find equally great wine, beer and spirit deals. The mission of WinesDirect is straightforward: to help people find the best wines at the best prices.

 

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Fintech PR

Ethiopia-Exclusive: Bybit Livens up P2P Marketplace with 12,000 USDT in Rewards

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3 hours ago

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November 18, 2024

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DUBAI, UAE, Nov. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce an Ethiopia-only limited time offer for Bybit P2P users. From now to Dec. 5, eligible makers and users on Bybit P2P can choose a special rewards track while capturing opportunities in P2P trading.

Registration is required for all three events:

1. Merchant-exclusive Event

On Bybit P2P, users may enter the P2P Maker Battle for a share of a 2,000 USDT prize pool. Merchants may get a share of the prize pool by placing a sell ad in the Ethiopian Birr (ETB) on the Bybit P2P marketplace, inviting others to buy USDT.

The prize pool will be divided by the top 10 merchants who trade with the largest number of unique users, and complete a minimum trading volume of 5,000 USDT and minimum number of 50 unique buyers. To qualify, the Merchant must register and submit their UIDs using this form.

2. Cashback Event: Up to 2% for Existing Users

All buyers have a chance at an easy win from another 8,000 USDT prize pool.  Existing P2P users may simply trade to reach a minimum of 500 USDT in trading volume to unlock 2% cashback, up to 10 USDT per user.

3. Sharers Get More 

Users have another way to access a 2,000 USDT prize pool by using the “share” button to  spread the word about their ETB journey on Bybit P2P. The top 10 participants with the highest views will get to tell their stories and take home the rewards. Interested users may use this form to submit their work.

P2P trading is an organic part of the crypto market and an indispensable tool for improving financial inclusion and interconnectivity between community members. Bybit P2P provides a secure and user-friendly peer-to-peer trading solution, enabling users to seamlessly trade among themselves at zero fees.

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Bybit offers resources about posting trades on Bybit P2P, and Ethiopian users may visit here for more.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected] 
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Aon Launches Cyber Risk Analyzer to Mitigate Clients’ Cyber Risk Exposure

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4 hours ago

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November 18, 2024

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  • Tool enables risk managers, brokers and CISOs to better evaluate cyber risk and maximize insurance value
  • Cyber Risk Analyzer is the latest release under Aon Actionable Analytics, which already includes Property Risk, Casualty Risk, D&O Risk and Health Risk analyzers

CHICAGO, Nov. 18, 2024 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today launched its Cyber Risk Analyzer, a digital application that allows risk managers to make data-driven, technology-enabled decisions to mitigate cyber risk. The tool is the latest in a series of new offerings, which brings together Aon’s data, tools and analytics professionals to support clients through an evolving risk landscape across sectors.

“As cyber threats continue to grow in frequency, sophistication and severity, organizations face an array of complex risks—from ransomware and business interruption to insider threats and data breaches,” said Christian Hoffman, global specialty and financial products leader for Aon. “Compounding these risks are increased litigation pressures, shifting regulatory landscapes, and heightened scrutiny from shareholders. We designed Aon’s Cyber Risk Analyzer to address these challenges and help clients evaluate and quantify their enterprise cyber risk, enabling them to make better decisions.”

Aon’s Cyber Risk Analyzer allows Aon’s clients and brokers unique access to:

  • Loss Forecasting: Model detailed loss scenarios faster, including privacy or data breach and system failure. The analyzer incorporates Aon’s customized proprietary simulation modeling approach based on internal claims insights, independent research by Aon’s Cyber Risk Consulting team and findings from bespoke cyber modeling engagements.
  • Exposure Assessment: Integrate with other proprietary Aon tools, including Aon’s Cyber Quotient Evaluation platform (CyQu), to obtain a holistic assessment of a client’s exposures and security controls.
  • Total Cost of Risk (TCOR) Analysis: Overlay loss forecasts with customized insurance options to produce TCOR and Catastrophic TCOR analyses.

These capabilities enable brokers to provide risk managers, chief information security officers and corporate leaders a view of the changing cyber risk environment so they can make informed decisions around risk transfer versus risk retention on their balance sheets. Client risk managers will be empowered to deliver insights on optimal insurance capital allocation decisions to their boards of directors and corporate officers.

Empowering Clients with Actionable Insights
The launch of Aon’s Cyber Risk Analyzer follows the 2024 debuts of the firm’s Property Risk Analyzer, Casualty Risk Analyzer, D&O Risk Analyzer and Health Risk Analyzer, that provide exposure visualizations and model potential losses to help Aon’s clients make better informed decisions about their risk and insurance options. The analytics tools are designed by Aon’s Risk Capital and Human Capital capabilities in collaboration with Aon Business Services to provide Aon clients with actionable insights that allow for greater control over their insurance program structure. 

“Aon’s Cyber Risk Analyzer builds on Aon’s commitment to equipping clients with insights that enable data-driven decisions,” said Joe Peiser, global CEO of Commercial Risk Solutions for Aon. “As the risk landscape becomes increasingly complex, our team delivers actionable analytics that help our clients confidently evaluate risks and insurance options.”

About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.

Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.

Media Contact
Robert Elfinger
[email protected]
+1 312 610 3182

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