Saudi Aramco to re-tender Ras Tanura refinery project to reduce cost

Saudi Arabian Oil Co., the world’s largest crude exporter, plans to reissue tenders for expansion and upgrade of Ras Tanura refinery by midyear.

Aramco issued tenders last year but decided to restudy the project to cut costs, according to MEED.

In 2008 , Aramco signed an agreement with Worley Parsons to upgrade and expand Ras Tanura refinery to increase production capacity to 950,000 b/d from 550,000 b/d. The project was postponed.

Ras Tanura is the biggest oil refinery in the Middle East. It produces up to 31 per cent of the refined domestic hydrocarbons in the kingdom.