Saudi Aramco, Total Double Contribution To $11B Refinery

Law360, New York (December 18, 2012, 8:41 PM EST) -- The Saudi Arabian Oil Co. and Total SA will double their capital investment to 7.1 billion rials ($1.9 billion) in a roughly $11 billion Persian Gulf oil refinery project, the joint venture partners announced Tuesday.

The Saudi national oil company, better known as Saudi Aramco, and its French collaborator will up their contribution toward the massive refinery project from 3.56 billion rials, their joint venture company — Saudi Aramco Total Refining and Petrochemical Co., or SATORP — said in a statement to the Saudi Stock Exchange....
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