Middle East Economic Survey

VOL. LIII

No 16

19-April-2010

SAUDI ARABIA

Yanbu' Refinery Financing Oversubscribed, Jubail Nears Close

The financing for the Saudi Aramco/ConocoPhillips 400,000 b/d export refinery, based in Yanbu', is proceeding well, and MEES soundings indicate that like its sister project it will be oversubscribed. The two partners approached lenders seeking $7.7bn of funding earlier this year, with the funding request made ahead of the 400,000 b/d refinery in Jubail completing its...