Saudi Aramco Confesses Problems in Financing

Though it is too early to say if the fallout from the worsening global financial crisis would have an impact on Saudi Aramco's mega projects that include export-oriented refineries and integrated refining and petrochemcial projects, still Aramco's senior vice president of international refining and marketing Khalid G. Al-Buainain recently confessed that "it is realistic to say that financing these mega projects through borrowing in a tight credit market will be a challenge."

Nevertheless, Al-Buainain assured that Aramco's partners are still highly committed and anxious to see these projects move forward.

Author: Ksenia Kochneva