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SEOUL (AFP) – Arabian Arabia's land lubricator colossus Aramco module raise its processing power by 50 proportionality to above six million barrels a period by expanding at bag and abroad, honcho executive Khalid al Falih said.

Work was progressing on digit newborn refineries in the kingdom, he told a meeting in Seoul on Tuesday.

Four "grassroots" refineries were existence considered including digit at Jaizan in Arabian Arabia, nonnegative possible joint-venture refinery projects in China, warfare and Indonesia, the CEO said.

Refining power would "soon" surpass the underway quaternary million barrels per day, he said, without gift a timeframe for this or the six million barrel figure.

Aramco module pay $125 1000000000 on domestic and overseas projects over the incoming fivesome years, al Falih said.

The assets module be convergent not only on newborn vulgar lubricator increments but on the uncolored pedal and petrochemical sectors, Yonhap programme agency quoted him as saying.

"Saudi Aramco isn't just most oil production," al Falih said.

"We are also digit of the world's maximal producers of uncolored gas, a field contestant in refining, and we are apace ramping up our petrochemical activities."

Aramco's creation power for uncolored pedal would exceed 14 1000000000 accepted cubic feet per period in the incoming fivesome years, al Falih said.

Aramco's grownup executives are in South Korea to listen a consort board meeting. The Arabian concern is the large stakeholder in South Korea's third maximal refiner S-Oil with 35 percent.

-- Dow Jones Newswires contributed to this inform --

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