Middle East Economic Survey


No 42


Satorp Paves Way For Saudi Project Sukuk Issuers With $1Bn Offering

With its successful launch of SR3.749bn ($1bn) of sukuk, Saudi Aramco Total Refining and Petrochemical Company (Satorp) has prepared the ground for other projects in the kingdom seeking to issue Shari'a compliant paper. The 400,000 b/d Satorp export refinery project in Jubail, costing $12.5bn and sponsored by state oil giant Saudi Aramco and French oil major Total, issued...