TotalEnergies SE
0.87 (1.67%)
Share Name Share Symbol Market Type
TotalEnergies SE EU:TTE Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.87 1.67% 53.00 53.00 53.01 53.64 52.87 53.24 1,526,685 13:49:03

TotalEnergies, Saudi Aramco Take Final Investment Decision for Petrochemical Complex in Saudi Arabia

15/12/2022 1:15pm

Dow Jones News

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By Giulia Petroni


TotalEnergies SE and Saudi Arabian Oil Co. have taken a final investment decision for the construction of petrochemical facility in Saudi Arabia.

The French oil-and-gas major said the project represents an investment of around $11 billion, of which $4 billion will be funded through equity by the two companies.

The facility will allow a nearby refinery operated through a joint venture by TotalEnergies and Saudi Aramco to convert internally produced refinery off-gases and naphtha, as well as ethane and natural gasoline, into higher value chemicals.

The complex is eventually set to provide feedstock to other petrochemical and specialty chemical plants located in the Jubail industrial area. Construction is scheduled to start in the first quarter of 2023, with operations expected to begin in 2027, according to TotalEnergies.

The investment decision is subject to customary closing conditions and approvals.


Write to Giulia Petroni at


(END) Dow Jones Newswires

December 15, 2022 08:00 ET (13:00 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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