Saudi Aramco to increase refining capacity to 8 mm bpd

Jan 15, 2012 12:00 AM

Khalid Al-Falih, CEO of Saudi Aramco, says the company is looking to increase its refining capacity to 8 mm bpd.
At the signing ceremony for a $ 10 bn new 400,000 bpd refinery project at Yanbu with China’s Sinopec, Al-Falih said Aramco would hit 8 mm barrels capacity ‘over the next decade’.

While international oil companies such as Chevron are shying away from further downstream investment as refining margins tumble to break-even levels, Al-Falih has committed Aramco to graduating from the world’s largest oil producer to becoming the world’s largest single vertically integrated energy company, as a part of a national strategy for the Kingdom to become a downstream hub for emerging south-east Asian markets.
"Let me stress that the various world-class local and international refining and petrochemical investments Saudi Aramco is making are a testament to our firm belief that the downstream remains an attractive and profitable business," Al-Falih said.

The company is already committed to expansion projects at Jubail, Jizan and Ras Tanura, which is already the world’s largest refinery.
Al-Falih said the downstream business of Aramco 'will be a $ 60 bn business by the time we are done building'.

Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« July 2019 »
July
MoTuWeThFrSaSu
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31

Register to announce Your Event

View All Events