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FINANCIAL NEWS
Saudi Jubail refinery to operate in 2 years
15 Sep 2011
(MENAFN) Saudi Aramco Total Refinery and Petrochemicals Company’s (SATORP) CEO, Fawwaz Nawwab, said that in December of 2013, the USD14 billion Jubail refinery in Saudi would be expected to fully operate, reported Arab News.
Nawwab added that 68 percent of the Engineering, Procurement and Construction work at the refinery, which came as a joint venture between Saudi Aramco and France’s Total in order to double the Kingdom’s refining capacity, was completed.
He also said that initially, the refinery was built to process 400.000 barrels per day (bpd), nevertheless, Aramco promised to supply the facility with up to 440,000 bpd for thirty years.
It is worth noting that the facility will refine heavy crude into a range of fuels for local consumption and export, moreover, almost 54 percent of Jubail’s output will be diesel and jet fuel with an estimated annual capacity of 11.4 million tons.
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