Saudi Arabia Oil and Gas News Jan 2014

Includes SATORP Special

• Saudi Arabia invites interest in next independent power project – Power plant will run on a mix of solar power and natural gas.
• Saudi Aramco awards FEED for Fadhili gas project – Saudi Aramco has awarded engineering and project management service contracts to subsidiaries of Foster Wheeler’s Global Engineering and Construction Group to develop its Fadhili Gas Program.
• Saudi’s Dabbagh plans stake sale in lubricants arm ahead of IPO – Dabbagh Group is planning to sell a 19 per cent stake in its lubricant business.
• Saudi’s Satorp expected to ship first PX from its Jubail facility.
• Saudi Aramco Total Refinery and Petrochemicals Co, or Satorp, will likely start paraxylene shipments from the new 400,000 b/d Jubail refinery in Saudi Arabia early next year, sources close to the company said Wednesday.
• The new refinery has downstream units with capacity to make 700,000 mt/year of paraxylene, 140,000 mt/year of benzene and 200,000 mt/year of polymer grade propylene.
• The PX plant will start in December, the sources said.
• “It seems all the downstream units will be started up by the end of December,” one of the sources said. “Considering this, the company will start first PX shipments early next year.”
• The Jubail refinery is currently operating at a 50% run rate and is expected to be fully operational by December.
• Saudi Aramco has a 62.5% stake in Satorp, with Total holding the remaining 37.5% interest.
• GCC Oil and gas consumption set to rise 50 per cent by 2030 – Mena needs more than $1 trillion investment to meet 2030 gas and electricity demand.