Shifting focus: An Aramco plant in Saudi Arabia. Besides China, the company says India and South Korea are potential investment destinations. — Bloomberg
Riyadh: Saudi Aramco has cancelled plans to build a refinery and chemicals project in the kingdom and is reviewing three others as it evaluates spending plans with a focus on expanding in Asia.
Aramco and its unit Sabic will not go ahead with the planned 400,000 barrel-a-day facility at Ras Al Khair on Saudi Arabia’s Gulf coast, and a proposal to move the project to Jubail has also been shelved, according to people with knowledge of the situation.
