SAUDI ARABIA

 

Luberef $1.1Bn Financing For Yanbu Expansion Gathers Momentum

The Saudi Aramco Lubricating Oil Refining Company (Luberef) is moving ahead with a $1.1bn financing for the expansion and upgrade of its Yanbu' refinery. The funds are being supplied in the form of a corporate loan with a 10-year payback period and will be used to double production of base oil from the current 280,000 tons/year to 560,000 t/y by 2015. It will also allow the...