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White & Case Advises Saudi Aramco in Joint Venture with China Petrochemical Corporation to Build Refinery.

 

17 January, 2012
 
 
Global law firm White & Case LLP represented Saudi Arabian Oil Company (Saudi Aramco) on its joint venture with China Petrochemical Corporation (Sinopec) to build, own and operate a grassroots full conversion oil refinery to be located in Yanbu’, Saudi Arabia. Once completed, the new refinery will have capacity to process 400,000 barrels per day of heavy crude oil and will produce a full slate of refined products. 
 
"We are pleased to have provided counsel to Saudi Aramco on this strategic initiative, which exemplifies Saudi Aramco’s commitment to meet the energy demands of consumers across the world," said White & Case partner Wendell Maddrey. 
 
The Saudi Arabian joint company established to implement the project is named the Yanbu Aramco Sinopec Refining Company (YASREF) Limited.  Construction of the refinery is under way and is scheduled to be operational in 2014.
 
The White & Case team was led by partners Wendell Maddrey (New York), Jason Webber (New York) and Hallam Chow (Hong Kong) and Waleed Al-Nuwaiser (Riyadh). Associates Scott Birnbaum and Alykhan Kurji (New York) and Mohammed Al-Awadh, Abdulaziz Albabtain and Guillaume de Lalande (Riyadh) assisted with the project development and formation of the joint venture company.
 
White & Case has advised Saudi Aramco on several similar large scale transactions in recent years, including a joint venture between Saudi Aramco and The Dow Chemical Company completed late last year to build and operate a $20 billion world-scale integrated chemicals complex in Jubail Industrial City, Saudi Arabia.
 
For further information, please contact:
 
Susan Byrnes, Head of Marketing & Communications, Asia, White & Case LLP 
sbyrnes@whitecase.com
 
 

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