Saudi Aramco and ExxonMobil Joint Venture Completes Clean Fuels Project

  • New hydrotreater dramatically reduces sulfur levels in gasoline and diesel
  • Joint venture celebrates 30 years of joint refining operations, boosting economy and building stronger community
  • Refinery an industry leader in reducing emissions
Dec 11, 2014 - 03:30 AM EST

Dateline:

YANBU, Saudi Arabia

Public Company Information:

NYSE:
XOM

YANBU, Saudi Arabia--(BUSINESS WIRE)--Saudi Aramco Mobil Refinery Company Limited (SAMREF), a joint venture of Saudi Aramco and ExxonMobil, has completed construction of major desulfurization facilities, including a new hydrotreater, that dramatically cuts sulfur levels in gasoline and diesel.

The SAMREF partnership, which is celebrating 30 years of joint refining operations, demonstrates the long-term collaboration and progress towards meeting the energy needs of Saudi Arabia’s growing economy. The project is the largest investment in SAMREF’s history and will reduce the sulfur levels in gasoline and diesel by more than 98 percent, to 10 parts per million, which makes the refinery an industry leader in emissions reduction.

“Our long-term partnership benefits from the technology and innovation from both companies,” said Khalid Al-Falih, President and CEO of Saudi Aramco. “Our refinery will continue to be an industry leader throughout the Middle East and in the global market place well into the future. It is also testimony of Saudi Arabia’s long-standing role as a reliable energy supplier to key geographic areas of the world.”

“We continue to apply advantaged technology that will deliver world-class products that contribute to the fuels value chain,” said Darren Woods, senior vice president of Exxon Mobil Corporation. “The successful, recent startup of the Clean Fuels Project illustrates the refinery’s advancements and preparations to meet global energy demands.”

Mohammad Al Naghash, president and chief executive officer of SAMREF, said, “The company contributes to the global competitiveness of the Kingdom of Saudi Arabia by providing world class fuels, but also creating jobs and improving the surrounding environment.”

About Saudi Arabian Oil Company and Mobil Yanbu Refining Company, Inc.

SAMREF is a joint venture between the Saudi Arabian Oil Company (Saudi Aramco) and Mobil Yanbu Refining Company Inc. (a wholly owned subsidiary of Exxon Mobil Corporation). The SAMREF refinery complex was formed for the development, construction, ownership and operation of crude oil refining facilities in Yanbu, Saudi Arabia. Following the construction and start-up of the facilities, it commenced operations in late 1984.

About Saudi Aramco

Saudi Aramco is the leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long term growth around the world. www.saudiaramco.com

About ExxonMobil Refining & Supply

ExxonMobil Refining and Supply encompasses a global network of reliable and efficient manufacturing plants, transportation systems, and distribution centers that provide a range of fuels, lubricants, and other high-value products and feedstocks to our customers around the world.

CAUTIONARY STATEMENT: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, the impact of technology, and emission reductions could differ materially due to changes in market conditions affecting the oil, gas, and refined product industries; political or regulatory developments, including changes in environmental laws; the actions of competitors; technical or operating factors; and other factors discussed under the heading "Factors Affecting Future Results" in the Investor Information section of our website (www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. The term "project" as used in this release does not necessarily have the same meaning as under any government payment transparency reporting rules.

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