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Aramco and Total go ahead with Saudi refinery

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Aramco and Total go ahead with Saudi refinery

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Saudi Aramco and French energy company Total have agreed to invest almost seven billion euros to build a refinery in Jubail, Saudi Arabia.

It is due to be operational late in 2013 and will process 400,000 barrels of oil per day. Technip of France and Spain’s Tecnicas Reunidas are among the main contractors. Aramco and Total had delayed the bidding process, and made contractors revise bids and cut costs.