Saudi Capacity Tops 2.9mn B/D As Yasref Ships First Products

The Yanbu’ Aramco Sinopec Refining Company (Yasref) joint venture between Saudi Aramco and China’s Sinopec has exported its first on-specification cargo. A 300,000 barrel clean diesel cargo was dispatched from the port of Yanbu’ on 15 January.

Neither Yasref nor the venture partners said where the cargo would be delivered. Press reports quoted sources giving expected destinations ranging from the Asia-Pacific market to Egypt to the domestic market via the port at Jiddah. Earlier off-spec diesel shipments were reported during production ramp-up.

When Yasref refinery is fully onstream later this year, total refining capacity in Saudi Arabia will amount to 2.91mn b/d. Yet despite the current rapid expansion of Saudi refinery capacity, the kingdom’s crude inputs have declined since the August record of 2.17mn b/d (see box).


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