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Saudi refineries hiked output by 18.3% last year, helped by the ramp-up of production at Satorp refinery. Yet Aramco is not satisfied with capacity expansion alone: it aims to squeeze out additional value along the processing chain.
Saudi Aramco says the kingdom’s refineries delivered an average 2.18mn b/d of products in 2014, compared with 1.84mn b/d in 2013. Much of this 18.3% rise is attributable to Aramco and joint venture partner France’s Total, bringing their Satorp refinery at Jubail to full operation after initial crude runs in 2013.
Next year will see higher output still. Satorp’s average 279,000 b/d of output for 2014 is well short of full capacity of 400,000 b/d. And Aramco and China’s Sinopec are now ramping up production at their 400,000 b/d Yasref in Yanbu’, where first crude was processed in fourth quarter 2014.
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