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Saudi Arabia to double its oil refining capacity
AFP ^ | February 15, 2006

Posted on 02/14/2006 8:37:24 PM PST by jmc1969

Saudi Arabia plans to double its oil refining capacity to six million barrels per day (bpd) within five years, Oil Minister Ali al-Nuaimi said Tuesday. The OPEC kingpin's "main goal is the stability of world oil markets.

It is currently working on huge oil projects, including raising crude oil production capacity and doubling the capacity of oil refineries to six million bpd within the next five years," the state SPA news agency quoted him as saying.

Nuaimi made his remarks during a meeting with visiting Dutch Foreign Minister Bernard Bot.

Riyadh's objective is to "meet the world's increasing demand for oil," Nuaimi said.

Nawaf Obaid, managing director of Saudi National Security Assessment Project, a government consultancy, told an oil conference in September the kingdom has earmarked $20 billion for the upgrade project.

The program would boost the capacity of eight refineries Riyadh owns inside and outside Saudi Arabia within five years, besides building new refineries locally and abroad, he said.

The Saudi and Dutch ministers discussed the importance of ensuring secure oil supplies and cooperation between their two countries in oil matters, including joint investments, SPA said.

Saudi Arabia currently has a refining capacity of around 3 million bpd through facilities both at home and overseas, of which around 2 million bpd are produced in the kingdom.

The Gulf kingdom plans to hike its output capacity from the current 11 million bpd to 12.5 million bpd in 2009.


TOPICS: Foreign Affairs; Front Page News
KEYWORDS: energy; oil; saudiarabia
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To: river rat
Lets drill our own... right off the Kalifornicate coast and anywhere in Alaska we can find it...

Bingo! All of the EEEEVIL oil companies have wanted to do this for the last 30 years! If you want to make a difference, just dial 1-800-DEMO-CRAT. These pukes are the anethema of success in this country. Democrats thrive on other's failures.

Democrats hate success. They hate anything that is good for America. /rant - I'll move to the topic at hand. We should start building Nuclear Power Production plants at the same time.... Well, see above.

21 posted on 02/14/2006 11:17:33 PM PST by Cobra64
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To: jmc1969
Great! Then they will cut the prise to $30 a barrel, eh?
22 posted on 02/14/2006 11:20:43 PM PST by Bender2 (Redid my FR Homepage just for ya'll... Now, Vote Republican and vote often!)
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To: Nachum
The main goal is to keep the west from developing alternative fuel sources.

They're getting very nervous. That's a very good, telling sign.

23 posted on 02/15/2006 2:57:47 AM PST by AmericaUnited
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To: jmc1969
The OPEC kingpin's "main goal is the stability of world oil markets.

No, the goal is keeping the West from developing alternative sources.

24 posted on 02/15/2006 6:44:10 AM PST by AxelPaulsenJr (More people died in Ted Kennedy's car than hunting with Dick Cheney.)
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To: Cobra64

An unmentioned factor here, is the oil shale fields of our country. At current price levels of a barrel of oil that shale is getting more and more reasonable to go after. The Saudis are aware of this fact.


25 posted on 02/15/2006 6:48:35 AM PST by AxelPaulsenJr (More people died in Ted Kennedy's car than hunting with Dick Cheney.)
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To: Cobra64

You should inform your neighbor that his employer hasn't existed for years.


26 posted on 02/15/2006 6:50:10 AM PST by Mr. Lucky
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To: Cobra64
Well it takes energy to transform corn into a fuel combustion product that will ignite a combustion engine.

Well, I'm no expert, but it seems to me that we're not just pumping crude out of the ground straight into our gas tank, either. Do all of those oil refineries run without using any energy?

27 posted on 02/15/2006 6:54:57 AM PST by cspackler (There are 10 kinds of people in this world, those who understand binary and those who don't.)
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To: river rat

This story is about doubling gasoline production, not doubling oil production.

Instead of exporting oil to us, they can export gasoline and make the refining profit as well.


28 posted on 02/15/2006 6:56:19 AM PST by Dog Gone
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To: Dog Gone

You're right..
I need to read more carefully...the word "refining" went right past my old eyes...

Thanks for the correction...

Semper Fi


29 posted on 02/15/2006 7:14:39 AM PST by river rat (You may turn the other cheek, but I prefer to look into my enemy's vacant dead eyes.)
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To: MJY1288
All the talk about Ethanol is what brought this about

No, the lack of refining capacity in this country has helped bring this about. Instead of selling us the raw product, they can take additional profit on the refining as well. More jobs lost, more profit sent elsewhere.

30 posted on 02/15/2006 8:37:39 AM PST by thackney (life is fragile, handle with prayer)
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To: Rick_Michael; Fiddlstix
They've been doing this for some time. Every time there talk about alternatives they start pumping out more.

This is not pumping any additional oil. This is taking the oil they normally sell and refining it. Then the refined product is sold at a higher value.

31 posted on 02/15/2006 8:39:31 AM PST by thackney (life is fragile, handle with prayer)
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To: Mr. Lucky
You should inform your neighbor that his employer hasn't existed for years.

Well, duh. He's retired.

32 posted on 02/15/2006 11:14:00 AM PST by Cobra64
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To: cspackler

You're preaching to a guy who is married to a woman who has been in the oil industry since 1970. She spent 20 years at Texaco's World Headquarters working for senior executives in various capacities including refining and manufacturing in Europe.


33 posted on 02/15/2006 11:17:53 AM PST by Cobra64
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To: AxelPaulsenJr

We lived in CO during the 1970s. We are very aware of the oil shale on the Western Slope. During the Carter years, some of the majors had started setting up facilities to extract the shale for further refining. Even the ads on tv showed a guy burning a piece of shale.


34 posted on 02/15/2006 11:21:48 AM PST by Cobra64
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To: Cobra64

But you still did not answer my question. Do the refieries that turn oil into gasoline not also use energy to do so?


35 posted on 02/15/2006 11:24:10 AM PST by cspackler (There are 10 kinds of people in this world, those who understand binary and those who don't.)
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To: cspackler

Yes they do. Take a physics class.


36 posted on 02/15/2006 12:31:11 PM PST by Cobra64
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To: Cobra64
So, you earlier state that it requires the use of energy to convert corn to ethanol, and that is bad. You then also agree that it takes energy to convert oil to gas.

So, does it take MORE energy to convert corn, or should I just quit asking you to explain your dichotomy and go reread my physics books from college?
37 posted on 02/15/2006 12:58:55 PM PST by cspackler (There are 10 kinds of people in this world, those who understand binary and those who don't.)
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To: cspackler
So, does it take MORE energy to convert corn

It takes a lot more energy. How much more is debated, but far more energy than refining.

Turning plants such as corn, soybeans and sunflowers into fuel uses much more energy than the resulting ethanol or biodiesel generates, according to a new Cornell University and University of California-Berkeley study. July 6, 2005 - ScienceDaily

38 posted on 02/15/2006 3:28:19 PM PST by thackney (life is fragile, handle with prayer)
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To: Cobra64
"Some folks need to take a high school physics class"

Gee , I am sure glad for the advise. Buy the way how much energy do you suppose is used to fight wars in Iraq and possibly Iran and to protect the world from dependency from the Islamic and communist oil rich nations? Do you get all your information from your neighbors or are you a physics professor specializing in ethenol production?
39 posted on 02/15/2006 4:32:14 PM PST by toomanylaws
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To: Cobra64
"You're preaching to a guy who is married to a woman who has been in the oil industry since 1970"

Do you suppose you could be a little biased towards oil companies? First it was neighbors now it's your wife.
40 posted on 02/15/2006 4:37:58 PM PST by toomanylaws
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