1. January 28, 2015 | The Arabian Sun 5Company News
A major milestone in Yanbu’
Khalid G. Al Buainain, right, and the team are on hand for the inauguration of the first shipment by YASREF in Yanbu’. Al Buainain said
the new facility is distinct for being an integrated conversion refinery that produces the highest quality clean petroleum fuel according
to the highest and most precise world standards and specification.
YASREF releases first shipment of products
YANBU’ — Saudi Aramco’s
downstream strategy continues its
upward trajectory with its joint ven-
ture refinery Yanbu’ Aramco Sinopec
Refining Company Limited (YASREF)
shipping its first cargo of products on
Jan. 15.
Located in Yanbu’ Industrial City,
YASREF is a joint venture between
Saudi Aramco and the China Petro-
chemical Corporation (Sinopec). The
first shipment contained 300,000
barrels of clean diesel fuel.
Khalid G. Al Buainain, Saudi Ar-
amco’s senior vice president of Tech-
nical Services and chairman of the
YASREF board, said the refinery is
one of the most advanced in the
world.
“It is distinct for being an in-
tegrated conversion refinery that
produces the highest quality clean
petroleum fuel according to the
highest and most precise world
standards and specifications,” he
said. “It is an extension of Saudi Ar-
amco’s strategy to refine crude oil to
obtain the highest added value from
the Kingdom’s natural resources and
meet domestic and world market
demands by providing competitive
products that guarantee a stable
supply, and it is one of the compa-
ny’s strategic pillars with Sinopec,
our biggest client in crude oil mar-
kets.”
YASREF president and CEO Mu-
hammad S. Al-Shammari said the
first shipment was the result of years
of planning. Commenting on the
shipment he said: “They will be fol-
lowed by many products to meet do-
mestic and international market needs.
The refinery will become a pivotal pro-
ducer in expanding the industrial base in
Yanbu’ Industrial City, in particular, and
in the Kingdom in general.”
YASREF stretches over 5.2 million
square meters and is considered a state-
of-the-art, world class refinery with a
capacity to refine 400,000 barrels per
day (bpd) of Arabian heavy crude. The
refinery is able to convert the crude into
clean and high quality petroleum prod-
ucts such as gasoline, diesel, benzene,
pelletized sulfur and petroleum coke.
Saudi Aramco holds a 62.5 percent
share, and Sinopec holds a 37.5 percent
share of the mega-refinery.
YASREF has provided almost 1,200
direct jobs and 5,000 indirect jobs,
with Saudization at the refinery reach-
ing 73 percent. The project has also
yielded financial benefit for local busi-
nesses through detailed engineering
work and material supply from local
manufacturers.
“It is an extension of Saudi Aramco’s strategy to refine crude oil to obtain the highest added value from
the Kingdom’s natural resources and meet domestic and world market demands by providing competitive
products that guarantee a stable supply.”
— Khalid G. Al Buainain