US-Saudi consortium advances plans for $5bn oil refinery outside Strait of Hormuz | The National

U.S.-Saudi Consortium Plans $5 Billion Gulf Refinery Outside Hormuz | OilPrice.com

A U.S.-Saudi consortium plans to build a $5 billion, 200,000-bpd refinery outside the Strait of Hormuz, betting on long-term demand despite heightened geopolitical risks.