The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Saudi Aramco returns to the project market

Saudi Arabia’s Jubail oil refinery is one of the biggest and most complex projects ever to be commercially financed. With dollar and local-currency funding, Islamic and conventional tranches, an IPO, an Islamic bond, and multiple export credit agencies, it has demanded a huge amount of work. Dominic O’Neill reports.

INVESTING IN SAUDI Arabia has become a riskier proposition over the past 12 months, but foreign creditors are being asked to finance a series of mega-infrastructure projects – for them, the key words are Saudi Aramco.

If risk management committees require further comfort, the key is again Aramco: Saudi Arabia’s national oil company and perhaps the world’s most prolific cash cow.

But that does not mean it has been easy for Aramco and its partner, French energy company Total, to get either local or international banks to commit themselves to finance the Jubail refinery, which is set to cost about $12 billion.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree