Saudi Arabia on 18 January signed an MoU with the South African government under which respective state oil firms Aramco and PetroSA will study the feasibility of building a refinery and petrochemicals complex in South Africa. The site of the plant is “to be agreed upon between the two sides later on” according to official Saudi news agency SPA. Whether a South African refinery and petchems plant fits in with Aramco’s global downstream expansion plan, which includes...