Riyadh — Mubasher: Saudi Arabian Refineries Company (SARCO) announced the expiration of its non-binding memorandum of understanding (MoU) with UAE-based Go Energy.
The agreement, which was originally signed on 12 October 2025, was intended to establish a framework for cooperation in developing green hydrogen and ammonia manufacturing projects within the Kingdom.
The company confirmed that the MOU period ended without the parties entering into a binding agreement. SARCO stated that the termination of the memorandum does not impose any financial obligations or liabilities on the firm.
Furthermore, the company clarified that there is no material impact on its financial position or business results resulting from the conclusion of this preliminary agreement.
The initial partnership was first disclosed to the market on12 October 2025, as part of the company's broader interest in the renewable energy sector.
Following the expiration of the term, no further legal or financial commitments remain between the two entities regarding the proposed manufacturing venture.
