By SHAI OSTER
March 30, 2007 4:53 a.m.
BEIJING — In one of the biggest deals of its kind, U.S. oil giant Exxon Mobil Corp. Friday signed a deal with Saudi Aramco and China Petroleum and Chemical Corp., better known as Sinopec, to expand an oil refinery in China’s rich southern province of Fujian and add on a vast chemicals facility for completion by 2009.
With China still tightly regulating fuel prices, big oil is increasingly looking at the country’s surging demand for chemicals.