Chiyoda Wins Letter of Intent for Luberef 2 Project
The Petromin Lubricating Oil Refining Company (Luberef) - owned 70% by Saudi Arabia's Petromin and 30% by Mobil - has awarded Chiyoda Petrostar (a joint venture between Chiyoda Chemical Engineering and Construction Company of Japan and its Saudi affiliate) a letter of intent to build a 1.5mn barrel/year lube oil refinery at Yanbu' on the Red Sea, at an estimated cost of $160mn. The new refinery, Luberef 2, which was...
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