SAUDI ARABIA

Saudi Aramco/Sinopec Refinery Deal Highlights Growing Sino-Saudi Energy Axis

State-owned Saudi Aramco and Chinese state firm Sinopec on 14 January held the official signing ceremony for their 400,000 b/d joint venture export refinery at Yanbu. The Yanbu Aramco Sinopec Refinery Company (YASREF) marks the first major Chinese downstream investment in the kingdom and coincided with an official visit by Chinese Premier Wen Jiaobao to the region. Mr Wen’s visit took in Saudi...