Sindonews.com -the Saudi Arabian Oil Co. (Aramco), the world's largest exporter of crude oil expected to become major manufacturers of processed products (refiner), such as FUEL and petrochemicals.
"In the years to come, we will be the single largest oil refiner in the world," said Khalid al-Falih, chief executive of Aramco in the Conference in Beijing, as reported by Bloomberg, Tuesday (26/3/2013).
Saudi Aramco has refining and petrochemical production expands to meet domestic demand and export products so that they can take the higher price of crude oil.
They plan to double global refining capacity to 8 million barrels a day in 10 years. While Exxon Mobil Corp., the largest integrated crude oil processor in the world, has 5.4 million barrels per day around the world by the end of 2012.
Previously, Aramco has also completed negotiations with PT Pertamina Persero, to build a refinery worth USD8 billion in Indonesia with a capacity of 300,000 barrels per day.
Finance; Investment; Business; Economics
Finance; Investment; Business; Economics
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