The Board of Directors of Petro Rabigh agrees to pursue the low-value fuel oil project
In its meeting held on October 14, the Board of Directors of Rabigh Refining and Petrochemical Company (Petro Rabigh) approved the approval to proceed with the implementation of engineering work for the low-value fuel oil development project.
The project aims, according to a company statement today, to "Saudi Arabia trading"to establish two integrated units for upgrading fuel oil and diesel processing, in addition to supporting facilities, with a total processing capacity of about 64 thousand barrels per day of fuel oil.
The company is currently working on awarding the engineering works contract to one of the specialized companies to conduct detailed technical studies and determine the best ways to implement the project, while any fundamental developments will be announced in the future once the engineering works are completed and taken into account. The final decision on the project.
She explained that there is no financial impact of the study, and the financial impact will be determined at a later time if the project is finally approved and implemented.
In this context, the Board of Directors agreed "Petro Rabigh" Council member Hamad Al-Daghrir was appointed as a member of the Audit Committee, with his membership to begin as of October 15.
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