ConocoPhillips (COP) and Saudi Aramco Re-Launch Bidding Process for Yanbu Project

June 30, 2009 8:13 AM EDT

The Saudi Arabian Oil Company and ConocoPhillips (NYSE: COP) announced today the re-launch of the bidding process for the construction of the planned 400,000 barrel-per-day export refinery at the Yanbu Industrial City, in the Kingdom of Saudi Arabia.

The full-conversion refinery is being designed to process Arabian heavy crude supplied by Saudi Aramco. It will produce high-quality, ultra-low sulfur refined products that will meet current and future product specifications. The project is targeted to start up in the third quarter of 2014.

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