The recently registered Yanbu Aramco Sinopec Refining Company or YASREF is a joint venture with Saudi Aramco retaining 62.5% equity share and China Petrochemical Corporation (Sinopec) retaining 37.5% equity share in the company. YASREF is a full-conversion world class refinery that will be built to manage 400,000 barrels per day. It is located in Yanbu Industrial City along the Red Sea, on the west coast of Saudi Arabia.The refinery will process Arabian Heavy crude to produce high–quality refined products that will meet the most stringent global product specifications and is expected to begin operations late 2014. The refinery will benefit from the availability of the Arabian Heavy crude oil supply while utilizing the excellent facilities and infrastructure of the Yanbu’ industrial city such as power and water grids and residential area.
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