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This document is page 70 of a Merrill Lynch 'GEMs Paper #26' dated June 30, 2016. It details the financial economics of petrochemical production in Saudi Arabia, specifically focusing on Saudi Aramco's diversification strategies, cost structures, and government revenues. The text discusses joint ventures, specifically the split with Shell (Motiva JV), and the development of major projects like Sadara and Petro Rabigh II. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it is part of a document production for a US Congressional investigation, though the content itself is strictly financial analysis of the Saudi energy sector and contains no direct mention of Jeffrey Epstein.

This document is page 71 of a Merrill Lynch research report ('GEMs Paper #26') dated June 30, 2016. It details Saudi Arabia's refining capacity targets and assets, specifically focusing on Saudi Aramco's domestic and international joint ventures with companies like ExxonMobil, Shell, and Sinopec. The page includes data tables on refinery locations, ownership percentages, and petroleum product output for 2014.