SUBSCRIBE
PROFILE

Air Products finalizes agreement for Jazan refinery

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

Air Products announces the finalization of an agreement with Aramco, ACWA Power and Air Products Qudra.
The agreement covers the operation of Aramco’s large Jazan refinery.

Air Products signs $12 billion contract

On October 28, 2021, Air Products hosted a teleconference between several investors.
The company announced the finalization of the joint venture agreement with Aramco, ACWA Power and Air Products Qudra.
Air Products Qudra is itself a company owned 51% by Air Products and 49% by Qudra Energy.
The agreement provides for project financing of up to $12 billion by the co-contractors.
The Jazan refinery in Saudi Arabia is to be equipped with electricity, gas and air separation units.
Air separation enables synthesis gases to be obtained by cryogenics. width= The joint venture has purchased the air separation units, gas services and syngas cleaning.
It will operate the plant under a 25-year contract.

400,000 barrels per day

Air Products owns 46% of the joint venture, while Air Products Qudra owns 9%.
Aramco, via its subsidiary Saudi Aramco Power Company, owns 20%.
Finally, ACWA Power owns 25% of the joint venture.
The Jazan refinery is a mega-project crude oil processing plant.
The plant will process up to 400,000 barrels per day.
This oil will be used to produce gasoline, ultra-light diesel and other products.
With this agreement, Air Products reinforces its position as a long-standing leader in the global industrial gases market.
The company is particularly active in the production and operation of syngas.
Air Products is now investing in carbon capture technologies, a major technique for offsetting emissions.

  • Popular on energynews.pro
Brazil Mobilizes $1 Billion for 65 Hydropower Plants
BOEM validates final review for 30 offshore sales in the Gulf of America
India diversifies coking coal purchases, Australia retreats
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Soluna crosses one gigawatt milestone with two new data centres in Texas
Soluna Holdings launched two energy projects in Texas, reaching one gigawatt of cumulative capacity for its data centres, marking a new stage in the development of computing infrastructure powered by renewable energy.
US crude oil inventories fall by 2.4 million barrels
Commercial crude oil inventories fell more than expected in the United States, while gasoline demand crossed a key threshold, offering slight support to crude prices.
Washington grants sixth sanctions extension to Serbian oil firm NIS
The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
CNOOC Limited records 6.1% increase in production for H1 2025
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
Talos discovers Daenerys in the Gulf, potential addition of 50 mn boe
The Daenerys oil discovery could increase Talos Energy’s proved reserves by more than 25% and reach 65,000 barrels per day, marking a strategic shift in its Gulf of Mexico portfolio.
Martijn Hagens to lead Eneco from March 2026
Eneco’s Supervisory Board has appointed Martijn Hagens as the next Chief Executive Officer. He will succeed interim CEO Kees Jan Rameau, effective from 1 March 2026.
Trump’s administration imposes 50% tariffs on Indian exports starting Wednesday
The United States will apply 50% tariffs on Indian exports in response to New Delhi’s purchases of Russian oil, further straining trade relations between the two partners.
The global petrochemical filtration market will reach $6.76bn by 2030
Rising energy demand is driving investments in petrochemical filtration, a market growing at an average annual rate of 5.9% through 2030.
Chevron eyes Libya return after fifteen years away from the oil market
Chevron has opened talks with Libya’s National Oil Corporation on a possible return to exploration and production after leaving the country in 2010 due to unsuccessful drilling.
Data centres in Japan to drive 60% of electricity demand growth by 2034
With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
Canada launches consultation on offshore drilling monitoring
The Impact Assessment Agency of Canada opens public consultation on its 2024-2025 draft monitoring report for offshore oil and gas exploratory drilling off Newfoundland and Labrador.
Ørsted suffers historic drop and closes at around 26 USD after offshore project suspension
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.
Hydro-Québec increases net income and intensifies investments
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
Cenovus acquires MEG Energy for $7.9 billion in strategic deal
Cenovus Energy announces the acquisition of MEG Energy through a mixed transaction aimed at strengthening its position in oil sands while optimizing cost structure and integrated production.
Vantage Drilling extends conditional agreement for the Platinum Explorer rig
Vantage Drilling International Ltd. extends the validity of its conditional letter of award until August 29, without changes to the initial terms.
Libya’s NOC Plans Bilateral Forum with American Energy Stakeholders
Libya is preparing to host an energy forum in partnership with American companies to boost investment in its oil and gas sectors.
The United States Sanctions Greek Shipper for Iranian Oil Trafficking
Washington increases pressure on Iran’s oil sector by sanctioning a Greek shipper and its affiliates, accused of facilitating crude exports to Asia despite existing embargoes.
Air Liquide acquires South Korean DIG Airgas for €2.85 billion
French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
France: the government asks EDF to reassess the sale of its subsidiary Exaion
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.
Hungary Seeks U.S. Support After New Disruptions on the Druzhba Pipeline
Amid repeated disruptions on the Druzhba pipeline, attributed to Ukrainian strikes, Hungary has requested U.S. support to secure its oil supply.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99