- Saudi Aramco and partner Sinopec (NYSE:SNP) plan to start a main refinery unit for making gasoline from crude oil at a joint venture plant on the Red Sea next year, Bloomberg reports.
- The joint venture refinery reportedly will produce low-sulfur diesel for export and have the fuel available for sale next year; the lower the sulfur content in diesel, the cleaner it is as a transport fuel, and the JV’s diesel would meet European specifications.
- The plant will have crude processing capacity of 400K bbl/day; Saudi Aramco and partner Total (NYSE:TOT) built a refinery of the same size on the Persian Gulf, which has been running at full capacity since Aug. 1.
Saudi Aramco refinery with Sinopec said to start hydrocracker in 2015
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