Yanbu Refinery Becomes Aramco’s New Facility Added to WEF Lighthouses Network
12.19.2023 By Tank Terminals - NEWS

December 19, 2023 [Zawya]- The refinery marks Aramco’s new addition joining its Abqaiq oil processing and crude stabilisation facility, Uthmaniyah Gas Plant, and Khurais oil complex which are part of the network.

 

Saudi Arabian Oil Company (Aramco) unveiled that Yanbu Refinery has become its fourth facility to be added to the Global Lighthouse Network of the World Economic Forum (WEF), according to a press release.

The refinery marks Aramco’s new addition joining its Abqaiq oil processing and crude stabilisation facility, Uthmaniyah Gas Plant, and Khurais oil complex which are part of the network.

Furthermore, Aramco is currently the only international energy company to be represented in WEF lighthouses network by more than two facilities.

Aramco Executive Vice President of Global Manufacturing, Ibrahim Al Buainain, said: “This new recognition by WEF reflects Aramco’s sustained focus on the development and deployment of state-of-the-art 4IR [Fourth Industrial Revolution] technologies, which enhance our operations and contribute to our sustainability objectives.”

The network only accepts manufacturing facilities that can demonstrate successful adoption of 4IR technologies at scale. Therefore, Yanbu Refinery is among 21 new facilities added to the network which currently has a total of 153 manufacturing facilities from across the globe.

Al Buainain added: “At Yanbu Refinery, we have successfully harnessed 4IR use cases to improve profits, increase production and expand processing capacity, while simultaneously reducing energy consumption, waste generation and gas emissions.”

He concluded: “Such achievements reinforce our position as a technology leader in our industry and highlight the benefits for our industry of adopting cutting-edge solutions.”

It is worth noting that in the first nine months (9M) of 2023, the Saudi oil giant generated net profits worth SAR 354.54 billion in addition to revenues of SAR 1.24 trillion.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

China's Natural Gas Production Surged in First Half of 2024
07.15.2024 - NEWS
July 15, 2024 [Oilprice]- China’s natural gas production increased by 6% in the first half of t... Read More
Fore Part of Hull Launches in China for ‘World’s Largest FPSO Unit’
07.15.2024 - NEWS
July 15, 2024 [Offshore Energy]- Chinese state-owned engineering company ZPMC has launched the fo... Read More
Stolthaven Terminals and GES to Operate Brazil’s First Green Ammonia Export Terminal
07.15.2024 - NEWS
July 15, 2024 [Storage Terminals Magazine]- Stolthaven Terminals, in collaboration with Global En... Read More
ADCC Pipeline Starts Delivering Gas to Cheniere’s Corpus Christi LNG Plant
07.15.2024 - NEWS
July 15, 2024 [LNG Prime]- The ADCC pipeline has started delivering natural gas to Cheniere’s C... Read More