Middle East Economic Survey

VOL. LII

No 50

14-Dec-2009

Jubail Refinery Secures Banks Commitments At Low Margins

The Saudi Aramco Total Refining and Petrochemical Company (Satorp) 400,000 b/d export refinery in Jubail has secured commitments from a large group of domestic, regional and international banks for its financing at low margins, MEES learns. The deal has come in two times oversubscribed, with participants shrugging off the debt crisis in Dubai, and the ongoing Algosabi/Saad privately...