Saudi Aramco mulls US$20 bln refining and petrochemical complex at Yanbu

13-Oct-15

State oil giant Saudi Aramco is considering building a US$20 bln refining and petrochemical complex at Yanbu on the Red Sea coast, as per sources in Reuters. The new refinery would have a capacity of 400,000 bpd and stand next to an existing refinery at Yanbu, wholly owned by Aramco, which has a capacity of 240,000 bpd and would also feed the planned petrochemical complex. The sources said British-based Amec Foster Wheeler was expected to win the contract to execute front-end engineering and design work for the project. The project, planning for which is still in the initial stages, is likely to be completed in 2023 if it goes ahead, one of the sources said.