Commodities and Futures News

Aramco, TotalEnergies sign $11 billion contract to build petrochemicals complex in Saudi Arabia

06/24/2023
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2023.06.24 08:14

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© Reuters. FILE PHOTO: A 3D printed natural gas pipeline is placed in front of displayed Saudi Aramco logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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(Reuters) – Saudi Arabian Oil Company (Aramco (TADAWUL:)) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday.

“Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia,” the statement read.

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06/24/2023
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