SAUDI ARABIA

Saudi Aramco has outlined its strategy to expand participation refining capacity to 8-10mn b/d and grow into a leading chemicals firm over the next 10 years, which will see an outlay of more than $100bn, both in the kingdom and abroad.

Speaking at last week’s Petrotech conference in Bahrain, Saudi Aramco CEO Khalid al-Falih explained that the company’s massive downstream investment plan is supported by its belief that world oil demand will grow by 25% over the...