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FINANCIAL NEWS
Ararmo plans fuel units in Ras Tanura, Rabigh refineries
27 Jun 2015
(MENAFN) Saudi Aramco has revived plans to add a clean fuels unit in its biggest oil refinery in Ras Tanura and more environmentally-friendly units to its Rabigh refinery, Arab News reported.
There has been a shift in Middle Eastern refineries to produce cleaner fuel to target export markets with stricter environmental requirements.
Early in January, industry sources had told Reuters Aramco suspended plans to develop the USD2 billion project in Ras Tanura due to the drop in the oil price.
Aramco invested USD2.5 billion with its partner ExxonMobil to upgrade a refinery on the Red Sea coast of Saudi Arabia to produce cleaner fuels and is also upgrading its Riyadh refinery.
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