The shutdown, which will start on Wednesday, will boost efficiency and production, Sipchem said in a bourse filing.
Under the current 2014 contact, Tasweeq supplies three cargoes a month to the UAE.
The 40-page synthesis said that global warming is causing more heat extremes, downpours, acidifying the oceans and pushing up sea levels.
The Kindgom is expected to raise the December prices for most of the crude grades it sells to Asia.
The total value of Saudi oil aid since July 2013 has amounted to about $5 billion.
Yanbu Aramco Sinopec Refining Co (Yasref) refinery started trial runs in September and originally planned its first exports by November.
The price of benchmark North Sea Brent crude has dropped more than a quarter from a high above $115 per barrel in June.
Tasweeq will cut exports to 350,000 barrels per day (bpd) from the current levels of 500,000 bpd.
Wasit will be one of the largest gas plants not linked to oil wells ever built by Saudi Aramco.
Kuwait’s oil minister Ali al-Omair said that he hoped oil prices would soon stabilise at a “level that benefits producers and importers”.
Kuwaiti Foreign Ministry undersecretary Khaled al-Jarallah said relations between the two countries were too strong to be affected by discrepancies over oil output from the field.
The company made SAR2.67 billion during the third quarter, compared to SAR2.85 billion during the same period of the previous year
SABIC chief executive Mohamed al-Mady said that population growth will push up consumption and oil prices.
SABIC, which is 70 per cent state-owned, attributed the fall in profits to a drop in sales and other income, although its cost of financing was lower.
Oman has been considering ways to reform its costly and sometimes wasteful subsidy system, though reductions in spending would be politically sensitive
The firm made a net profit of Dhs95.86 million ($26.1 million) in the three months ending Sept. 30, up from Dhs75.11 million in the year-earlier period, it said in a statement.
Saudi produced 9.70 million barrels of crude oil per day in September, but its supply to the market fell to 9.36 million bpd during the month.
SABIC and Shell first announced plans to explore an expansion of their petrochemical plant in 2012.
The firm is seeking to secure or arranging finance for $15 billion worth of projects, nearly half of which are in renewable energy.
Under the contract, the first phase of an expansion of the master gas system, SEPCO will install two booster gas compressor stations.
Funds raised from the issue would be used for general business purposes, the company said.
Crude output from their jointly-run offshore Khafji oilfield has been halted temporarily to comply with environmental rules.
Oxy had said in October 2013 that it planned to sell a minority stake in its MENA operations as part of a restructuring programme.
Saudi International Petrochemical Co reported a 13.3 per cent drop in third-quarter net profit.
De Margerie, 63, became CEO of the French oil company in February 2007, taking on the role of chairman in May 2010.
The world’s top oil exporter exported 6.663 million barrels per day in August, down from 6.989 million bpd in July.
The company made a net profit of QAR1.86 billion ($511 million) in the third quarter, up from QAR1.77 billion in the year-earlier period.
The company, a unit of Saudi Basic Industries Corp (SABIC), said it made a profit of SAR913 million ($243.5 million) in the third quarter, up from SAR734 million in the year-earlier period.
The field, whose production is around 280,000 bpd-300,000 bpd, will be brought offline “immediately”.
An industry source said there was no impact on oil operations in the world’s top crude exporter.