Riyadh-Mubasher: Saudi Arabia, the world’s biggest oil exporter, plans to invest in Asian refineries to lure plenty of buyers from the fastest-growing region for fuel demand, Bloomberg reported.
The state-owned oil company Aramco is currently planning to add India to the list of Asian countries where it seeks to build new refineries as part of its plan to almost double its global refining capacity.
Aramco is also considering plants in China, Indonesia, Malaysia and Vietnam, said CEO Amin Nasser.
He added that his company is in talks with China’s state oil firm for the establishment of a refinery.
The company’s current refining capacity stands at 5.4 million barrels per day (bpd), and the company plans to double it to 8-10 bpd but without setting a timetable for the expansion.
The kingdom's oil output reached 10.2 bpd in February.
