February 18, 2010 at 11:41 am #2759
Saudi’s Jubail refinery to start in late 2013-Aramco
Reuters – Wednesday, February 17, 2010
* Start-up previously expected in March 2013
* Aramco holds 4 million bpd of unused oil output capacity
LONDON, Feb 16, 2010 – Saudi Arabia’s Jubail oil refinery is scheduled to start up in late 2013, a Saudi Aramco official said on Tuesday, later than a previous target of March 2013.
The 400,000 barrels per day plant is a venture between state oil company Saudi Aramco and France’s Total. Saudi Aramco currently has a 62.5 percent stake in the project while Total has 37.5 percent.
“On Saudi Aramco’s joint venture with Total, it is scheduled to open late 2013,” Dawood Al-Dawood, vice president of marketing and supply for Saudi Aramco, said at an industry conference.
That timescale is later than previously stated. The Jubail Refinery’s project director told Reuters in October that the plant would come online in March 2013.
Speaking to reporters on the sidelines of the IP Week industry conference, Al-Dawood also said Aramco had 4 million barrels per day of spare oil production capacity.
“Maximum capacity is 12 million barrels. So we have 4 million barrels of extra capacity which is not used right now,” he said.
Saudi Arabia has been limiting crude supply in line with record output curbs it agreed with fellow members of the Organization of the Petroleum Exporting Countries in late 2008 as the recession hurt demand.
The kingdom produced 8.18 million bpd in January, close to its OPEC target of 8.05 million bpd, according to a Reuters survey. (Reporting by Ikuko Kurahone and David Sheppard; Writing by Alex Lawler; Editing by Sue Thomas)
February 18, 2010 at 11:42 am #5769
Here is Reuters update on Saudi-Total JV Jubail refinery project and the scheduled startup has been moved from Mar 2013 to late 2013.
Recent news that all KNPC $15B Refinery projects including al Zour, are being reviewed by government – which is likely result in delay from past projected startups.
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