Saudi Arabian Oil Company "Saudi Aramco", Sumitomo Chemical Co. Ltd "Sumitomo Chemical" and Rabigh Refining and Petrochemical Company "Petro Rabigh" signed on Sunday a Memorandum of Understanding (MoU) on conducting a feasibility study for the development of Rabigh Phase II Project for a major expansion of the existing petroleum refining and petrochemical production complex currently being commissioned by Petro Rabigh. Khalid A. Al-Falih, President and Chief Executive Officer of Saudi Aramco said,"Today's signing ceremony marks yet another milestone in the ongoing progress of the joint venture partnership by Saudi Aramco and Sumitomo Chemical to create one of the world's largest integrated refining and petrochemical facilities, help meet growing demand worldwide for high-quality energy products, and leverage this downstream operation to spur the development of complementary manufacturing and conversion industries”. "It is gratifying to embark on the feasibility study for the Rabigh II Project at the same time as Petro Rabigh is successfully starting up the Rabigh I Project. This is another significant achievement in our joint efforts that demonstrates the strength of our partnership built upon mutual trust," said Hiromasa Yonekura, Chairman of Sumitomo Chemical. --MORE
