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Aramco, Japan's Sumitomo Eye Rabigh Expansion

Saudi Aramco and Japan's Sumitomo Chemical Co. are looking at expanding their massive joint venture Rabigh refining and petrochemical complex in the oil rich kingdom, the two companies and the official Saudi Press Agency said Monday.

Aramco, Saudi Arabia's state-owned oil giant, and Sumitomo, one of Japan's biggest chemical companies, said they signed a memorandum of understanding Sunday to carry out a feasibility study for the development of the second phase of their $10.3 billion Petro Rabigh complex.

Source: Associated Press

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