Saudi Aramco Joint Venture Refinery Makes First Shipment
January 15, 2015 – Yanbu Aramco Sinopec Refining Co. (Yasref), a joint venture refinery between Saudi Arabian Oil Company (Saudi Aramco) and China Petroleum and Chemical Corporation (Sinopec), made its first shipment of clean diesel on January 15th. The refinery is capable of producing 400,000 barrels per day (bpd), 263,000 of which are diesel, and it demonstrates Saudi Aramco’s efforts to become a leading exporter of diesel. The operational Yasref refinery is expected to decrease diesel prices due to supply outweighing demand. Other substances will be produced at the refinery, including gasoline (90,000 bpd), petroleum coke (6,200 tons per day), pelletized sulphur (1,200 tons per day) and benzene (140,000 tons per year).