Saudi Aramco’s capacity expansion project at Ras Tanura and petrochem JV with Dow delayed

Saudi Aramco has delayed its capacity expansion plans at Ras Tanura that was planned to hike capacity by 400,000 bpd at an investment outlay of US$8 billion. This is part of Saudi Aramco’s plans to drive down costs that was initiated earlier with the delay of two other 400,000 bpd refinery projects at Jubail and Yanbu. The expansion was planned to meet rising domestic demand and to supply feedstock to an adjacent petrochemical joint venture with Dow Chemical Co, planned to built at an investment outlay of over US$20 bln. It is reported that this petrochemical project had also been delayed. Completion of preliminary design and engineering for the petrochemical plant will now be completed only in Q1 or Q2 of 2010, instead of the initial target of end 2009.
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