Aramco to build $8bn refinery

Aramco to build $8bn refinery
by Reuters
13 June 2007

Saudi Aramco, the state oil company of OPEC kingpin Saudi Arabia, has launched a project to build a new oil refinery, the Middle East Economic Digest (MEED) reported.

MEED said the refinery at Ras Tanura, with a processing capacity of up to 400,000 barrels per day (bpd) of Arabian heavy crude, will cost about $7 billion to $8 billion.

Saudi Aramco has a 550,000 bpd oil refinery in Ras Tanura in the east of the kingdom, the world's largest oil exporter.