Less than a week after finalizing a shareholder restructuring program that deleveraged its balance sheet, Saudi Arabia’s Petro Rabigh refining and petrochemicals JV has approved a major upgrading project.
In a 15 October statement to the Tadawul, Petro Rabigh (Aramco 60%, Sumitomo 15%, free float 25%) said that its Board of Directors has given the green light for executing the front-end engineering and design (FEED) work for the “Low-Value Fuel Oil Upgrade Project.” (CONTINUED – 618 WORDS)
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