Saudi Aramco and Total to double SATORP capital to $1.9 billion

Saudi Aramco and France's Total will double the capital of its oil refinery joint venture at Jubail to 7.12 billion riyals ($1.90 billion) as part of the planned financing for the project, it said.
 
The capital of Saudi Aramco Total Refinery and Petrochemicals Company (SATORP) will be increased from 3.56 billion riyals through a cash injection by the shareholders in the first-quarter of 2013, according to a statement on the Saudi bourse website.
 
State-owned Aramco holds a 62.5 percent stake in the project, with Total holding the remaining 37.5 percent stake. The capital increase will be on a pro-rata basis, the statement said.
Reuters
18 December