aramco announces 19bn investment at new jubail plant
Last Updated : GMT 07:47:47
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Financial boost for SATORP venture

Aramco announces $1.9bn investment at new Jubail plant

Arab Today, arab today

Arab Today, arab today Aramco announces $1.9bn investment at new Jubail plant

Jubail's 400000 barrels per day refinery is under construction
Jubail - Arabstoday

Jubail\'s 400000 barrels per day refinery is under construction Saudi Arabian Oil Company (Aramco) has revealed its oil refinery joint venture with French company Total will double capital investment at the Jubail plant to $1.9bn. Saudi Aramco Total Refinery and Petrochemicals Company (SATORP) will increase spending at the largest industrial city in the region.
In a statement, the Saudi company has confirmed that the capital increase in the project, where Aramco holds a 62.5 percent stake and Total holds the remaining 37.5 percent stake, will be on a pro-rata basis.
The refinery which will be fully operational in the third quarter of 2013, is being built to help Saudi Arabia deal with processing heavy crude, and take the weight of Aramco\'s 900,000 barrels per day Manifa plant.
Aramco and Total have started testing units at the 400,000 barrels per day refinery. The companies estimate Jubail will produce up to 190,000 barrels per day of diesel, around 90,000 barrels per day of gasoline and 50,000 barrels per day of kerosene.

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