en.Wedoany.com Reported - ExxonMobil, Saudi Aramco, and Samref have signed agreements to undertake a major upgrade of the Samref refinery in Yanbu and study the feasibility of expanding it into an integrated petrochemical complex.

The refinery currently processes over 400,000 barrels of crude oil per day, producing energy products including propane, automotive diesel, heavy fuel oil for marine use, and sulfur. The three companies will evaluate capital investment options to drive production upgrades and diversify the product portfolio, with a focus on producing low-emission, high-quality distillates and high-performance chemicals, while improving energy efficiency and reducing operational emissions through integrated emission reduction strategies.

The three companies will initiate the preliminary front-end engineering design phase for the proposed project. This phase aims to maximize operational advantages, enhance Samref's market competitiveness, and meet the growing demand for high-quality petrochemical products in the Kingdom of Saudi Arabia.

Samref is a joint venture between Saudi Aramco and Mobil Yanbu Refining Company Inc., a wholly owned subsidiary of ExxonMobil.

Mohammed Y. Al Qahtani, President of Saudi Aramco's Downstream business, stated that the next phase of Samref marks a new step in the long-term strategic cooperation between the partners. The project aims to increase the conversion rate of crude oil and petroleum liquids into high-value chemicals, reinforcing the company's commitment to advancing downstream value creation and its liquids-to-chemicals strategy, while positioning Samref as a key driver of growth in the Kingdom's petrochemical sector.

Jack Williams, Senior Vice President of ExxonMobil, said the company values its partnership with Saudi Aramco and its long history of operations in Saudi Arabia. This project evaluation aligns with the company's strategy of focusing investments in areas that develop high-value products, meet society's evolving energy needs, and contribute to a lower-emission future.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com