Ambassador of Saudi Arabia to Bangladesh Issa bin Yousef Al-Duhailan has said the Kingdom has all the necessary capabilities to establish an oil refinery in Bangladesh.

With reference to what the ambassador stated regarding Saudi Aramco's establishment of an oil refinery, Issa bin Yousef Al-Duhailan on Thursday explained that the Kingdom of Saudi Arabia has all the necessary capabilities to supply the project with crude oil based on commercial terms of supply.

Diplomatic sources said the Saudi envoy, however, emphasised that Saudi Aramco's investment plans do not include investing in the refinery construction project in Bangladesh.

Saudi Aramco is the world's largest oil producer. Officially known as Saudi Arabian Oil Company, the company is primarily state-owned and is based in Dhahran, Saudi Arabia.