Saudi ministry postpones Jizan refinery tender round on financial crisis

02-Feb-09

Owing to the deepening global financial crisis, the ministry of petroleum & mineral resources of Saudi Arabia has deferred the tender round for building a 400,000 bpd Jizan oil refinery on the Red Seacoast. The bidding round for the refinery construction initially scheduled for March has been pushed back to September 2009 citing 'global recession' as the reason for the same. The tender round for Jizan refinery which was earliest set for Q2 of 2007 has witnessed several delays thereafter.