By Wael Mahdi
Saudi Aramco, the world’s largest state-owned oil company, said its planned refinery in the industrial city of Yanbu will start production in 2014.
The refinery will process 400,000 barrels of heavy crude a day to produce diesel and gasoline with byproducts of sulfur and petroleum coke, the company said on its website yesterday.
The start was delayed from 2013 after ConocoPhillips opted out of the project to reduce its presence in the crude- processing business. Saudi Aramco in July formed the subsidiary, Red Sea Refining Co., to run the plant and in the same month gave final approval to start construction.
The management board of the refinery held its first meeting on Dec. 25 in Dhahran. Saudi Aramco board member, Salim S. Al- Aydh, was named chairman and Fahad Al-Helal was appointed president and chief executive officer.
Photo: Yanbu refinery test and inspection (Courtesy of Saudi Aramco)