Saudi Aramco & Sinopec Joint Oil Refinery to Operate in 2014
BEIJING, May 30, 2012 (SinoCast Daily Business Beat via COMTEX) --
Copyright 2008 SinoCast Daily Business Beat. All rights reserved
CEO of Saudi Aramco, Saudi Arabia's state oil company, announced a few days ago that its joint venture oil refinery with Sinopec Corp. (SHSE: 600028) in Yanbu will be put into operation in November 2014.
The oil refinery is designed to process 400,000 barrels of crude oil mainly from Manifa oilfield, producing 3,000 barrels of benzene, 263,000 barrels of diesel oil, 90,000 barrels of gasoline, 6,200 tons of petroleum coke and 1,200 tons of sulphur.
The Manifa oilfield is expanding and estimated to reach a daily output of 900,000 barrels in 2014.