Saudi Aramco has signed 12 agreements worth billions of dollars with various South Korean companies.
Aramco Trading’s new Fujairah office will handle all gasoline and fuel oil storage and blending activities, as part of a push into new markets.
INEOS has signed a memorandum of understanding with Saudi Aramco and Total, to build three new plants in the Jubail 2 complex in Saudi Arabia.
Sadara, a joint venture between Aramco and Dow Chemical, has awarded a long-term maintenance services contract to KBR.
KBR will continue to provide General Maintenance Services at the SATORP refining and petrochemicals project in Saudi Arabia.
Wood has secured a new contract with SABIC to deliver the engineering design for a petrochemical research centre in Saudi Arabia.
Shell’s share of the SASREF refining venture will be acquired by Aramco, giving it complete ownership of the project.
Saudi Aramco will acquire a 17% stake in South Korea’s Hyundai Oilbank for approximately US$1.25 billion.
A new report from ICIS suggests that ‘big oil’ in the Middle East will boost the global petrochemicals footprint.