site. The companies have completed the initial evaluation and front end engineering and design (FEED) outlined in the May 2006 Memorandum of Understanding (MOU). The next phase will include the solicitation of bids, commitment of long lead items and site preparation work. “We're pleased to be entering the next stage of development for the Yanbu export refinery project, together with our partner, ConocoPhillips, " said Khalid G. Al-Buainain, Saudi Aramco senior vice president for Refining, Marketing & International. “This facility will bolster the Kingdom's refining capacity, and provide additional quantities of high quality refined products for global and domestic markets. This partnership is important to Saudi Aramco, and this initiative is an important aspect of our company's expanding downstream business portfolio,” he added. --MORE
