New Saudi refinery postponed until next year

11/7/2008 | Houston Chronicle (tiered subscription model)

ConocoPhillips and Saudi Arabian Oil will hold off until next year on a 400,000-barrel-a-day oil refinery planned in Yanbu, Saudi Arabia. "We believe that this short delay will allow the markets to adjust from the current uncertainties and provide a stronger basis for the long-term success of the refinery," said ConocoPhillips chief Jim Mulva.

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