Saudi China 's state - owned oil company Aramco has signed a deal to supply crude oil to a " teapot " refinery operated by private Chinese firm dong Petrochemical . Under the arrangement , 100 million barrels of crude per year will be supplied to the facility , situated in the special economic zone of Changxing ##hai . Such teapot refineries have developed rapidly in China in the last few years , and now account for a fifth of the country 's crude oil imports . This is believed to be the first supply deal between Aramco and a private Chinese oil company .
Saudi Arabia's state-owned oil company Aramco has signed a deal to supply crude oil to a "teapot" refinery operated by private Chinese firm Hengli Petrochemical. Under the arrangement, 20 million tons of crude per year will be supplied to the facility, situated in the special economic zone of Changxing Island. Such teapot refineries have developed rapidly in China in the last few years, and now account for a fifth of the country's crude oil imports. This is believed to be the first supply deal between Aramco and a private Chinese oil company.