October 2, 2008
Saudi Aramco Total Refining and Petrochemical Appoints President and CEO
Saudi Aramco Total Refining and Petrochemical Company has appointed Salim Shahin as its president and CEO.
The company also previously announced that it is planning to offer Saudi nationals 25% of the company shares in an initial public offer, on the premise that the two founding partners will each retain 37.5% of the equity.
The refinery, scheduled to go on stream by the end of 2012, will process heavy crude oil and convert it into refined products that meet the international specifications.
Products will include diesel fuel, aircraft fuel, gasoline as well as petrochemical products such as parazelene, aromatic gasoline and propylene. Saudi Aramco and Total will share the marketing of the refinery products.