A senior official of Saudi Aramco disclosed today that his company has embarked on building three fully-transformative refineries at a 400,000 bpd each. Eng. Khalid bin Abdulaziz Al-Falih, Saudi Aramco's President and Senior Executive Officer, disclosed that the company is building the refineries in Jazan, Satorp, a joint venture with Total, and Yaserf, a joint venture with Sonic, in addition to building or expanding two world-class chemical complexes: Sadara complex, a joint venture with Daewoo Chemical and Petro Rabegh complex, a joint venture with Somitomo Chemical. In a key address at the Middle East Conference for Refining and Petrochemicals "Petrotech 2014", currently ongoing in Manama, Bahrain, under the patronage of Saudi Aramco under the theme "Towards a prosperous transformative industry amid a new situation ", Al-Falih summarized the historic opportunities available for the refining and petrochemical industries in the Arab Gulf region and ways of investing them. Over the last three decades, the Arab Gulf region has exported low-price petrochemical materials and imported a variety of technologies, instead of adding the maximum values for hydro carbonic material through more diversification and appropriation of products, a move that would have enabled the producers to establish secondary and specialized industries and produce export-oriented manufactures and semi-manufactured goods, he said. --More 14:22 LOCAL TIME 11:22 GMT تغريد
