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.
A new report from ICIS suggests that ‘big oil’ in the Middle East will boost the global petrochemicals footprint.
Advancing its integrated refining and petrochemicals business, Aramco gains access to SABIC’s 62 million tpy petrochemicals capacity.