SAMREF CoOp Program
SAMREF is a posh refinery which was formed in 1981 for the development, building, possession and operation of crude oil refining amenities in Yanbu, Saudi Arabia. Following the development and start-up of the services, it commenced operations on November 15, 1984. The design capacity was 263,000 barrels per day of Arab Gentle Crude, but by way of a continuous improvement of its amenities, it now processes about 402,000 no 2 heating oil prices barrels no 2 heating oil prices per day.
In 1395 (H) and inside the Kingdom of Saudi Arabia’s Second Five Yr Plan, the no 2 heating oil prices final Petroleum and Mineral Group (Petromin) mentioned with Mobil Oil Company the opportunity of constructing a refinery on the West coast of Saudi Arabia. The aim of this refinery is to export finished merchandise to Europe, North America and far East inside the framework of broad-primarily based strategy for an built-in petroleum business. After thorough research, town of Yanbu was chosen as the best location for the new refinery.
Thus, approval was given to type a joint enterprise under the name of Petromin Mobil Yanbu Refinery Firm Ltd. (PEMREF) as a state-of-the-art refinery. The refinery building was completed in 1984 and operations began easily.
On eleven/1/1414 (H) (July 01 1993G) the Royal Decree #M/1 was issued whereby all oil refineries, petroleum merchandise, distribution facilities and Petromin shares in the joint enterprise refineries had been merged into the Saudi Arabian Oil Firm (Saudi Aramco). Accordingly, Saudi Aramco Firm took over all Petromin rights and obligations for these refineries and amenities. On account of this Royal Decree, the title of the company was changed to Saudi Aramco Mobil Refinery Company Ltd.