The Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi paid today an inspection visit to Yanbu Aramco Sinopec Refining Company Limited which operates and manages the entire refining facilities in Yanbu Industrial City, as a result of the joint venture agreement between Saudi Aramco and Sinopec Century Capital Investment " Amsterdam ". Sinopec has a share of 37.5% of the Company's capital and Saudi Aramco has the remaining 62.5% . Minister Al-Naimi said in a statement to the Saudi Press Agency (SPA) that the work in this new refinery is proceeding according to a specific timetable and it will work with a production capacity up to 400,000 barrels per day during the third quarter of this year, noting that in addition to the production, the refinery aims to sell refined products such as gasoline, diesel and granulated sulfur steel and coke, and provide job opportunities for Saudis. During the tour, the Minister was accompanied by Governor of Saudi Arabian General Investment Authority Engineer Abdullatif bin Ahmed Al-Othman and a number of the Ministry's senior officials.
