Saudi Arabia downstream news

SABIC will raise its stake in Ar-Razi to 75%, purchasing 50% of JSMC’s share.

The King Salman Energy Park will target exploration, production, refining, petrochemicals, conventional power and water production and treatment.

The company has announced the safe completion of activities at the IMC’s facility.

Amin H. Nasser told delegates that the company’s objective is to bring its downstream business to the same level as its upstream.

Agreements take the total 2019 COSA volume to 1.67 million bpd, the largest in China’s history.

Under the MoU, ADNOC could store crude in two compartments of the facility in Karnataka, India.

Agreement explores potential collaboration as the energy producers seek to boost revenues from natural gas and LNG business segments.

The integrated industrial complex is expected to begin operations in 2025.

Riyadh investment forum sees strategic and commercial collaborations formed, valued at more than US$34 billion.

Saudi Aramco will acquire a share of Zhejiang’s new refinery project.