Saudi Aramco (Saudi Arabian Oil Co.) plans to expand production capacity at its oil refinery and petrochemical joint venture with Sumitomo Chemical Co. under construction at the Red Sea coastal city of Rabigh by 2010. An investment layout of US$9.8 bln has been planned for the joint venture, likely to be completed on schedule and begin production in Q3-2008. Production will include gasoline, kerosene, ethylene, polyethylene and other oil and petrochemical-related materials using locally supplied crude oil and natural gas.
The two partners are in talks to finalize first-stage expansion plans by next year. Expansion plans to raise the plant's capacity in two stages after the start of operations, had been agreed upon prior to signing the contract.
12-Jun-07 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}