Total inks oil refinery deal with Saudi Arabia

France’s Total has signed a deal with state oil conglomerate Saudi Aramco to build an oil refinery in Saudi Arabia’s oil-rich Eastern Province at an estimated cost of around five billion dollars.
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“Saudi Aramco and Total today signed a comprehensive memorandum of understanding related to the planned development of a 400,000 barrels per day (bpd) world-class, full-conversion refinery in Jubail, Saudi Arabia,” a statement said Sunday.
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