(MENAFN- Khaleej Times) Saudi Arabia's 400,000 barrel per day Jubail refinery has started operations and will export its first oil products cargo this month, Saudi Aramco's joint venture with France's Total said on Thursday.
"Start-up is progressing as per the plan. Production has started from the refinery and first shipment will be exported by end of September. Further shipments will follow as per the start-up schedule and the production plan," the company said in a statement.
Parts of the complex have been started up over the last few months and the giant refinery is expected to reach full capacity by the end of the year. Jubail will refine Saudi heavy crude into a range of fuels - from gasoline to petroleum coke - for domestic consumption and export.
The first 200,000 bpd crude distillation unit (CDU) is already operational but the other has yet to start up, a source close to the matter said.
Analysts expect new refineries to turn the world's largest crude oil exporter into a major refined products supplier to Asia, Africa and Europe over the next five years. Aramco will offer up to 80,000 tonnes of fuel oil for export in late September and Total will also likely have one or two cargoes available by the end of the month.
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