Saudi Aramco's 400,000 bpd Ras Tanura refinery is scheduled for completion in December 2012, at an estimated investment outlay of US$8 bln. Output from the refinery will add to output from the existing 550,000 bpd plant at Ras Tanura. Output from the refinery will be used as feedstock to other petrochemical plants and fuel oil.
The Ras Tanura refinery is an integral part of Saudi Arabia's overall plan to raise domestic crude refining capacity to meet increased global demand for oil. Saudi Aramco is also developing two 400,000 bpd export-oriented refineries with ConocoPhillips and Total.