Middle East Economic Survey
VOL. LIII
No 17
26-April-2010
ConocoPhillips Exits Yanbu' As Saudi Aramco Changes Downstream Direction
US major ConocoPhillips announced on 21 April it was pulling out of its planned 400,000 b/d joint venture Yanbu' export refinery project with Saudi Aramco. The announcement comes amid a widespread reevaluation by Saudi Aramco of its domestic downstream plans. The state-owned firm is moving its planned flagship petrochemical joint venture with Dow Chemical from Ras...
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