Saudi refinery eyes Europe diesel exports
Singapore, October 20, 2012
A new refinery in Saudi Arabia, that is a joint venture of Saudi Aramco and France's Total, is likely to start diesel exports from the second quarter of next year and is targeting the European market, industry sources said yesterday.
Both companies have started testing the 400,000 barrels per day refinery at Jubail, and have indicated to potential buyers that diesel exports are likely to start by the second quarter next year, they said.
Saudi Aramco Total Refinery and Petrochemicals Company has fired up the boilers at the plant, designed to reduce Saudi reliance on imports and meet rapidly rising fuel demand, sources have said.
This indicates the refinery is expected to be fully operational ahead of an earlier schedule of December next year, traders said.
Aramco and Total will jointly market the diesel, though volumes are not clear yet.
"There's no clear picture yet, but marketing from both sides will own a share of volumes," the source added.
The Jubail refinery will be the second in the Middle East to target the European market with regular diesel exports.
State-owned Abu Dhabi National Oil Company plans to offer cleaner diesel fuel for export through its 2013 term contract, making it the first Gulf producer to export ultra-low sulphur diesel outside the region on a term basis. – TradeArabia News Service
More Energy, Oil & Gas Stories
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd
- Korean refiners eye more Iraq crude
- Dana starts Egypt gas plant upgrade
- Opec oil production hits new high in Feb
- Taqa-led group to buy Indian hydropower plants
- Schneider gets energy management certification
- Morocco moves ahead with $1.7bn wind farms
- Iraq approves power plant investments
- 670,000 oil & gas wells ‘need to be drilled’
- Qatar bourse celebrates Mesaieed listing