Saudi Aramco and Total signed a new contract under the Jubail refinery project that is designed to supply 400,000 barrels of oil per day, reported Menafn Monday. According to officials, the two companies signed a contract to implement the project, adding that the new refinery would begin operations at the end of 2012. The refinery will process Arabian Heavy crude into high-quality refined products that will meet the most stringent global product specifications. It will also benefit from proximity to the Arabian Heavy crude supply system and from the excellent facilities of the Jubail Industrial City such as the King Fahd Industrial Port, power and water grids, and residential areas.
