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FINANCIAL NEWS
Saudi’s Aramco delays USD2b fuels project
02 Jan 2015
(MENAFN) Saudi Aramco, the state oil giant, announced it has suspended plans to build a USD2 billion clean fuels plant at its largest oil refinery in Ras Tanura, Gulf Daily News reported
The Ras Tanura clean fuels project, which was supposed to include a naphtha hydrotreater and was originally due to go onstream in 2016, appears to be one of the first energy projects suspended in Saudi Arabia as the result of oil prices declining to almost half of their value since June
The company said that it was evaluating its projects following the fall in oil prices to determine which should have priority.
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