BEIRUT (Zawya Dow Jones)
Saudi Arabian Oil Co., or Saudi Aramco, said it plans to go ahead with its strategic projects and its partners are looking for the best opportunities to resume work on the Jubail and Yanbu refineries projects according to the time schedules, Abha-based Al Watan daily reports Tuesday.
Saudi Aramco will look into the tenders for its joint-venture project with France's Total in February, the paper reports citing Abdul Aziz Al Judaimi, Aramco's vice-president for new business development.
Aramco and Conoco plan to launch the tenders for the Yanbu refinery project in the last quarter of 2009, Judaimi said according to the paper.
Judaimi ruled out a hike in the price of ethane, the petrochemical feedstock, by 2011, the paper reports.
Copyright (c) 2008 Dow Jones & Company, Inc.