Satorp Refinery Completes $8.5-Billion Project Financing

Saudi Aramco Total Refining and Petrochemical Co. (Satorp, Jubail), a jv building an export refinery and aromatics complex at Jubail, Saudi Arabia, has signed financing agreements for $8.5 billion of senior project finance facilities for the refinery project. Satorp, owned 62.5% by Saudi Aramco and 37.5% by Total, is builsding a 400,000-bbl/day full conversion refinery, which is scheduled to begin operations in 2013. The refinery will also produce 700,000 m.t./year of para-xylene, 140,000 m.t./year of benzene and 200,000 m.t./year of polymer-grade polymer. The...

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