ExxonMobil and Saudi Aramco this week signed a Venture Framework Agreement (VFA) “to evaluate a significant upgrade” of their 50:50 joint venture Samref refinery in Yanbu.
The partners will explore an expansion of the 400,000 b/d capacity refinery into an integrated petrochemical complex as part of Aramco’s aims to increase its liquids-to-chemicals capacity to 4mn b/d by 2030. The VFA follows an MoU that was signed in May to examine the potential integration (MEES, 16 May). (CONTINUED – 179 WORDS)
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