Saudi Aramco has cancelled plans to build a refinery and chemicals project in the kingdom, according to a news report.

The oil company and Sabic will not proceed with the planned 400,000 barrel-a-day facility at Ras Al Khair and a proposal to move the project to Jubail has also been shelved, Bloomberg reported, citing people aware of the situation. 
 
Three planned chemical facilities in Jubail and Yanbu on the Red Sea are under review, the report said. 

Aramco intends to continue to grow its liquids-to-chemicals business to increase its throughput in integrated refining and petrochemicals complexes to up to 4 million barrels per day by 2030, Bloomberg reported, citing a company statement.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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