Construction work on two 400,000 bpd Saudi refineries to recommence

17-Mar-09

The stalled construction work on the two 400,000 bpd oil refineries based in Jubail and Yanbu (Saudi Arabia) is set to recommence, the regional media reported. The work on the two refineries, been jointly built by a 3-way joint venture of Saudi Aramco (Saudi Arabia), Total (France), and ConocoPhillips (US), was delayed during the second quarter of 2008. The joint expenditure has been reportedly trimmed down to US$18 bln and the refineries are projected to be put on stream within a period of three years.