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)
Read this article for free
Gain access to over 60-years of energy analysis and news
-
Delve into the details backed by data
-
Exclusive information from high-level officials
-
Assess future risks and opportunities
Source link
