Oil Minister Ali Al Naimi of Saudi Arabia told reporters today in Vienna that ConocoPhillips had submitted the best tender for its 400,000 bpd Yanbu refinery, and Total SA for its 400,000 bpd refinery at Jubail. The bids are still being assessed and no decision on the awarding of contracts has been made yet. The refineries are expected to cost around $4bn-$5bn each.
