Saudi Aramco and US-based integrated energy company ConocoPhillips have approved continued funding for the development of the Yanbu export refinery project. Saudi Aramco and ConocoPhillips plan to construct a grassroots, 400,000 barrel-per-day, full-conversion refinery in the Yanbu Industrial City. The refinery is being designed to process Arabian heavy crude, which will be supplied by Saudi Aramco. The refinery is expected to produce ultra-low sulfur refined products that will meet current and future product specifications. Saudi Aramco and ConocoPhillips will each be responsible for marketing 50 percent of the refinery's production.
