Saudi Government goes ahead with oil refinery at Jizan

Nicosia – The Saudi Government is proceeding with its plans to establish a greenfield oil refinery at the Jizan economic city, the foundation of which was recently laid by Saudi King Abd Allah ibn Abd al-Aziz.

The capacity of the planned refinery will be between 250,000 barrels a day (b/d) and 400,000 b/d and according to press reports it could be a semi or full conversion refinery having the potential for petrochemical and power integration.

Saudi Aramco will supply the refinery with crude through a tanker, as experts consider that building a pipeline from oil wells to the refinery is not economical. The refinery aims at serving foreign clients in Europe, the United States and Asia by supplying products of high specifications.

The aim of the Saudi government is to involve the private sector of the country in the construction and running of the refinery, creating employment and business opportunities for the inhabitants of the area. For its part, the government will provide loans, fiscal incentives, land and infrastructure.

ANI