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FINANCIAL NEWS
Saudi Aramco to boost local refining capacity to 3.5m bpd by 2016
25 Oct 2011
(MENAFN) Saudi Aramco said that as the company would add three new facilities, refining output capacity in the Kingdom would go up to 3.5 million barrels per day (bpd) in 2016 from the current 2.26 million bpd, reported Arab News.
The company added that the three refineries were the company’s joint venture with Total in Jubail (Satorp), which would start operations next year, whereas the Red Sea refining in Yanbu would start operations in 2014, and Jazan refinery would start in 2016.
It also said that the refineries were under development and once completed, each would have a refining capacity of 400,000 bpd.
It is worth noting that since Saudi Aramco planned to increase international refining capacity by 50 percent to exceed 6 million bpd, the company may construct three new joint venture refineries in Asia.
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