Aramco and Total Form Jubail Refining and Petrochemical JV

Saudi Aramco and Total say they have agreed to establish a joint venture, Jubail Refining and Petrochemical Co., following a recent signing in Jeddah, Saudi Arabia of a shareholders agreement and other core agreements. The deals will lead to construction of a previously announced 400,000-bbl/day, full-conversion refinery and petrochemical complex at Al Jubail for start up at the end of 2012, Aramco and Total say. The refinery will maximize production of diesel and jet fuels, and the petchem complex will make 700,000 m.t./year of para-xylene; 140,000 m.t./year...

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