Aramco and Total Form Jubail Refining and Petrochemical Company

Saudi Aramco and Total say they have agreed to establish Jubail Refining and Petrochemical Company following the signing in Jeddah, Saudi Arabia of their shareholders agreement and other core agreements. The deals, signed by Abdallah S. Jum'ah, president and CEO of Aramco, and Christophe de Margerie, CEO of Total, will lead to the construction of a previously announced 400,000 bbl/day, full-conversion refinery and petrochemical units at Jubail, due to begin operations at the end of 2012. The refinery will maximize the production of diesel and jet fuels and, in...

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