Saudi Aramco - Sumitomo refining & petrochem JV to go onstream by March

13-Feb-09

Rabigh Refining and Petrochemical Company (Saudi Arabia), a joint venture between Saudi Aramco and Japan's Sumitomo Chemical, has announced to initiate commercial production before end of Q1 2009, defying any signs of reduced global demand. PetroRabigh, the US$10.3 bln refining and petrochemical plant announced a three month postponement for its startup September last year. The Saudi-Japanese venture is unlikely to be fazed by the downturn in global economy due to its partnership with the world's largest exporter of crude oil, Saudi Aramco.