Saudi Aramco Is Determined to Push Ahead with the Yanbu Refinery Following the Withdrawal of ConocoPhillips

摘要

Although the U.S. company had warned that it would not take the final investment decision until the spring of 2010, ConocoPhillips' announcement on 21 April that it was pulling out of the project for developing a refinery in Yanbu in a joint venture with Saudi Aramco came as a surprise. The two companies had already issued tenders for the engineering and construction of several units of the future 400,000-b/d refinery and the bids received were being evaluated. Industrial circles had even indicated the names of the low bidders for five of the planned works packages.