Malaysian state oil and gas firm Petronas is keen on taking a role in Saudi Arabia's Jizan oil refinery, chief executive Hassan Marican said.
The refinery is to be part of an 'economic city' in the impoverished region of Jizan in the far south of Saudi Arabia on the Red Sea coast near Yemen. The plant will have capacity to process between 250,000 and 400,000 barrels per day (bpd). Saudi Arabia aims to boost refining capacity to 3.4 million bpd in 2012 from 2.1 million bpd last year. Jizan is one of four new refineries the kingdom plans to build.
The kingdom has already signed deals worth $12 billion for two new refineries - one with France's Total at Jubail and one with US firm ConocoPhillips in Yanbu. They will produce 800,000 bpd of products by the end of the decade. For more details
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