Saudi Plans Refinery Expansions to Meet Fuel Demand

Saudi Aramco, the world’s biggest oil company by output, plans to expand refineries in the U.S., South Korea and the Philippines to meet rising demand for fuel.

The company’s Port Arthur, Texas, refinery, a venture with Royal Dutch Shell Plc, may add 320,000 barrels a day of capacity, Khalid al-Buainain, vice president for refining said at a conference in Manila. Saudi Aramco’s S-Oil Corp. division in South Korea will double capacity and its Philippine venture Petron Corp. plans a $250 million expansion, he said.

Bloomberg