JX Nippon Oil Considering Building Refineries in Saudi Arabia

Nikkei Asian Review, March 13, 2017

JX Nippon Oil & Energy, Japan's largest oil company, will reportedly sign a memorandum of understanding Tuesday for a collaboration with Saudi Aramco to set up oil refinery and chemical facilities in Saudi Arabia, part of a broader economic cooperation push stemming from King Salman's trip to Japan. Saudi Arabia produces about 10.5 million barrels of crude oil daily. More than 30% of Japan's annual crude oil imports come from Saudi Arabia. Japanese members of the collaboration look to stabilize their crude supply.

Click here to read the full article from Nikkei Asian Review.

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