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Aramco, Total raise $6bn to finance refinery

Energy giants secure banks loans to construct $12bn Jubail Export Refinery in Saudi Arabia.

January 30, 2010 9:51 by

Energy giants Saudi Aramco and Total have secured $6 billion in bank loans to finance the construction of an oil refinery in the Kingdom, reports Bloomberg.

The loans, expected to be signed by the end of the first quarter, will be used to finance the $12 billion Jubail Export Refinery, said the report.

Aramco is the world’s biggest crude producer, and French energy giant Total is Europe’s biggest refiner.

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