Chevron is not interested in taking a stake in Saudi Arabia's Jizan oil refinery project in the kingdom's western region, a company executive said.
'The refinery in the west is not something that Chevron would be participating in,' Chevron vice-chairman Peter Robertson said in Saudi Arabia on the sidelines of the Jeddah Economic Forum.
'It wouldn't make strategic sense to participate in a refinery there,' he added when asked about the Jizan refinery, which would have a capacity of up to 400,000 barrels per day.
A Saudi official has said the refinery would be offered to the private sector and would be built in participation with a foreign partner. Saudi Arabia aims to boost refining capacity at home to over 3 million bpd from about 2.2 million bpd, officials have said.
The kingdom has already signed deals worth $12 billion for two new refineries -- one with France's Total at Jubail and one with ConocoPhillips in Yanbu. They will produce 800,000 bpd of products by the end of the decade.
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