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Article: From mega-producer to mega-refiner: the world's largest crude oil producer also intends to become a leading global refiner.(Saudi Arabian Oil Co.)(Company overview)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- June 2, 2006
- Author:
CopyrightCOPYRIGHT 2006 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If the past few months are any indication, 2006 will go down in the annals of Saudi Aramco as the year of landmark investments in the refinery sector. On the domestic front, investments of about $21,000 million have already been announced for three green and brownfield projects aimed at installing more than 900,000 barrels a day (b/d) of new capacity. On-site work has started on expanding the product slate of the Rabigh refinery, and in late May comprehensive memorandums of understanding (MoUs) were signed for two export refineries, with total capacity of 800,000 b/d. They will be built at Yanbu on the Red Sea for exports to the US and Europe, and Jubail in the Gulf, for ...