Rabigh is a joint venture between Saudi Aramco and Japanese Sumitomo Company, each sharing 50% of the capital. Petro-Rabigh is due to upgrade a huge Project in Rabigh City on the Red Sea coast where Saudi Aramco currently owns Rabigh Refinery with a production capacity of 400,000 barrel of oil per day. The Saudi Arabian HSPC limited, which is the financial adviser and subscription manager for Petro-Rabigh said that all preparations for the subscription operation are completed. All branches of shares-receiving Banks will be ready effective tomorrow morning to receive subscription applications, said HSPC Executive Chairman Themouzi Jeraiy.
