Arab Today, arab today saudi chinese oil giants ink joint refinery deal
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Saudi, Chinese oil giants ink joint refinery deal

Arab Today, arab today

Arab Today, arab today Saudi, Chinese oil giants ink joint refinery deal

Riyadh - AFP

Saudi state oil giant Aramco inked a deal Saturday with China\'s Sinopec to build an oil refinery in the Red Sea city of Yanbu that will process 400,000 barrels per day, state news agency SPA said. The project, named Yasref, aims to be operational in 2014, SPA reported. Saudi Aramco will hold a 62.5 per cent stake with Sinopec holding the balance in the venture that highlights China\'s growing role as an infrastructure developer in the oil rich kingdom. The deal \"represents a strategic partnership in the refining industry between one of the main energy producers in Saudi Arabia and one of the world\'s most important consumers,\" said Aramco president and CEO Khalid al-Falih. The announcement comes as Chinese Premier Wen Jiabao headed to the Middle East on a trip to key oil-producing nations -- with Saudi Arabia as his first stop -- as rising tensions over Iran\'s nuclear programme spark fears of major oil supply disruptions. The kingdom is China\'s top oil provider, while Iran its third largest supplier. Qatar and the United Arab Emirates, where Wen will also visit, are both major oil-producing states but do not figure among the top 10 exporters to China. China -- under pressure to secure the energy supplies it needs to keep its economy going -- imported 232 million tonnes of crude oil in the first 11 months of last year, a 6.1 per cent rise from the same period in 2010, according to customs data.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi chinese oil giants ink joint refinery deal Arab Today, arab today saudi chinese oil giants ink joint refinery deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi chinese oil giants ink joint refinery deal Arab Today, arab today saudi chinese oil giants ink joint refinery deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday