Saudi Aramco, the largest oil corporation in the world, will cooperate with ConocoPhillips Company, the international energy corporation, to build a refinery in Saudi Arabia.
The refinery will be constructed on the other side of the Arabian peninsula on the Red Sea. It will be a 400,000-barrel-a-day facility.
According to the preliminary forecasts the expenses will constitute over $10 billion. The Conoco-Aramco refinery is scheduled to start up in 2013.
Russian President Vladimir Putin said at the meeting of the Valdai Discussion Club that Russia will never initiate military actions, including with the use of nuclear weapons
Representatives of the Ministry for Foreign Affairs of the Russian Federation commented on the state of affairs in the Sea of Azov