Saudi Aramco and Dow have agreed to the formation of a joint venture (JV) to build and operate a world-scale, fully integrated chemicals complex at a cost of US$20 billion to be located in Jubail Industrial City, Saudi Arabia.

Petro Rabigh, the joint venture between Saudi Aramco and Sumitomo Chemical, has moved to the next round of its phase 2 expansion which includes a new aromatics facility and a number of value-added derivatives.

Saudi Aramco has sold a little over a quarter of a million mt of LPG in the spot market for July loading due to a crude production hike by the Kingdom.

Saudi Aramco awarded Foster Wheeler SOFCON, an unincorporated consortium between a subsidiary of Foster Wheelers Engineering and Construction Group and A. Al-Saihati, A. Fattani & O. Al-Othman Consulting Engineering Co., a contract for the front-end engineering design (FEED) and project management services for the Clean Transportation Fuels Project at the Riyadh Refinery.