The Saudi Aramco Company has disclosed plans that it is currently preparing to restore operations at the Ras Tanora oil refinery this coming October.
Aramco had previously shut down the refinery to expand and develop its facilities.
The reopening of the plant, however, was delayed by 27 months due to improper operation attempts that resulted in a fire. Aramco incurred daily loss of approximately $500,000 as a result of these delays.
Presently, Aramco is responsible for 99 percent of the kingdom’s proven crude oil reserves of 259.2 billion barrels, while daily production is estimated at approximately eight million barrels, according to company sources.
Last year, the company completed a series of projects, including the Shaybah oil field and the opening of a pipeline connecting Riyadh and Dhahran with an extension to the Qassim region. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
