FINANCIAL NEWS

Saudi-Aramco to build China refinery

01 Sep 2016

(MENAFN) Saudi Aramco is in talks with China National Petroleum Corporation in order to build the Yunnan refinery in China.

Furthermore, the Opec heavyweight increased production in June to meet a seasonal rise in local demand as well as higher export requirements.

Additionally, the kingdom produced 10.67mn barrels per day of crude, while the production in August remained around the level.

The kingdom has a production capacity of 12.5mn bpd, giving it the ability to enhance output in case of any global shortage.

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