Saudi, China to sign agreement on oil refinery project
(MENAFN) Saudi Arabia and China plan a major Red Sea oil refinery joint venture in the third quarter of the current year, according to Arab News
The joint venture is between Saudi Aramco and Sinopec, and aims to process heavy crude from Saudi Arabia"s Manifa oil field
Petroleum and Mineral Resources Minister Ali Al-Naimi said: "Work at this new refinery is proceeding according to a specific schedule and will operate at a production capacity of 400,000 bpd during the third quarter of this year.
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