Middle East Economic Survey

VOL. LII

No 25

22-Jun-2009

SAUDI ARABIA

Saudi Aramco And Total Hit Cost Targets, Award 400,000 b/d Jubail Refinery

State-owned Saudi Aramco and Total announced on 18 June they had awarded the construction contracts for their new 400,000 b/d export refinery project in Jubail, achieving significant cost reductions in the process. Saudi Aramco Total Refining and Petrochemical Company (Satorp) decided late in 2008 to postpone the submittal of the EPC bids in order to...