With the inauguration of two new facilities and the signing of a memorandum of understanding, S-Oil and Saudi Aramco are continuing to expand their petrochemicals capacities.
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.
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.
The agreement stipulates that Aramco will supply Arabian crude oil to the Polish oil refiner, PKN Orlen, in exchange for high sulfur fuel oil.