Energy Industry
Industry: Email Alert RSS FeedSAUDI ARABIA - Saudi Aramco-Petrobras JV.
APS Review Downstream Trends, October, 2007
Saudi Aramco and Petrobras are launching a downstream JV to tackle technological issues around heavy crude oil and olefin production. About half of Petrobras' 13 bn barrel reserves are derived from heavy oil and Saudi Aramco is looking to harness the Brazilian IOC's expertise as part of plans to target heavy crude oil production of 1.05m b/d by 2010.
Petrobras, which in 2007 embarked on an $11.4 bn plan to double its heavy oil refining capacity, is collaborating with Saudi Aramco on catalyst development from liquid fuels, nitrogen removal from heavy crude and olefin production and heavy oil desulphurisation. A spokesman for Petrobras was in April quoted as saying a JV likely to be based around heavy oil E&P, will be announced later this year. The kingdom's...
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