Saudi Arabia, Total Sign Deal for $5-Billion Refinery

Saudi Arabia and French energy giant Total SA on Sunday signed a tentative deal to build a 400,000 barrel-a-day export-oriented refinery in the Persian Gulf city of Jubail, the kingdom's state-run oil company Saudi Aramco said.
Both Aramco & Total will have 35% stake each in the project with the remaining 30% offered to the Saudi public.