Middle East Economic Survey
VOL. LIV
No 12
21-Mar-2011
SAUDI ARABIA
Saudi Aramco And Sinopec Announce Refinery Partnership
Saudi Aramco on 16 March announced it had signed a memorandum of understanding (MOU) with Sinopec for the Chinese state oil firm to take a 37.5% stake in the planned 400,000 b/d export refinery at Yanbu'. The move follows the exit of US firm ConocoPhillips from participation in the project last April (MEES, 26 April 2010) and builds on the growing energy partnership...
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