The Saudi Arabian Oil Company (Saudi Aramco) and ConocoPhillips announced Friday the approval of continued funding for the development of the Yanbu Export Refinery Project. The Saudi Aramco and ConocoPhillips project would construct a grassroots, 400,000 barrel-per-day, and full-conversion refinery in the Yanbu Industrial City, in The Kingdom of Saudi Arabia. The refinery is being designed to process Arabian heavy crude which would be supplied by Saudi Aramco. The refinery would produce high-quality, ultra-low sulfur refined products that will meet current and future product specifications. --MORE