Aramco awards contracts for Yanbu refinery

Saudi Aramco has signed contracts with international firms to build a multi-billion dollar refinery at Yanbu on Saudi Arabia's Red Sea coast, Reuters has reported. South Korean firms Daelim and SK Engineering and Construction Co won deals to build three of the main processing units at the 400,000 barrels per day (bpd) refinery. Other winners included Spain's Tecnicas Reunidas , Dayim Punj Lloyd (Saudi Arabia), a unit of Punj Lloyd, and Egypt's Engineering for the Petroleum and Process Industries (ENPPI), the company said in a statement. The complex refinery is slated to process heavy crude from Saudi Arabia's project to pump 900,000 barrels per day from the Moneefa oilfield.