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Arab refining capacity to reach 12.425 mbpd
Refining capacity is set to increase in the Middle East.
Refining capacity in the Arab world is expected to be increased by five million barrels to 12.425 mbpd by 2014, according to report issued by the Kuwait-based Organisation of Arab Petroleum Exporting Countries (OAPEC).

Saudi Arabia, UAE and Kuwait are leading the trend due to their huge crude reserved capacity which represents almost 40% of the worlds extractable crude deposits. Saudi Arabia started the PetroRabigh integrated refining and petrochemical project last year, which will be followed by Al Jubail and Ras Tanura integrated projects in joint venture with Total and Dow respectively.

Last January, Saudi government said that Aramco would build Jizzan oil refinery rather than private firms that had bid for the delayed project.