Saudis take 100% control of America's largest oil refinery

[Saif al-Arab]

You stole the thunder, my friend!

When I read about the overtake I thought SABIC. And on 2nd page you spilled the beans...

It is a global giant. Even here in The Netherlands they have presence. I guess they like to keep a low profile.


Question to our KSA friends... I understood that a year or so ago some ME investors were going heavy into Shael companies as many were going belly up...this process of investement/takeover was facilitated by Wall Street.

Any info or details will be welcome.

Wasn't KSA going to build a refinery in China for Saudi crude?

Both ARAMCO and SABIC are world leaders/pioneers in their fields.

Speaking about shale.

Saudi Arabia
In mid-March 2013, The Saudi Minister of Petroleum and Mineral Resources Ali Naimi gave an estimate of over 600 trillion cubic feet of unconventional gas reserves, more than double its proven conventional reserves. That estimate would put Saudi Arabia fifth in a 32-country shale gas reserves ranking compiled for the U.S. Energy Information Administration.

https://en.wikipedia.org/wiki/Shale_gas_by_country

Saudi Aramco presses on with shale gas​

By Verity Ratcliffe
30 September 2016

The three main areas being targeted for shale gas exploration in Saudi Arabia.​

Saudi Aramco is pressing ahead with its shale gas development plans despite low oil prices and will start producing volumes within the next year, an anonymous source close to the company’s shale gas programme has told Interfax Natural Gas Daily.

The kingdom’s NOC will invest $334 billion by 2025 on its shale gas programme and other oil and gas projects, Aramco’s vice president for procurement and supply chain management, Abdulaziz al-Abdulkarim, said at the Petrotech conference in Bahrain on Monday. Funding will be given to "unconventional resources, both in the exploration phase and [in] development", as well as projects that will boost Saudi Arabia’s oil output, he said.

Aramco is targeting three areas with its unconventional gas exploration programme: the Northwest, South Ghawar and Rub’ al-Khali (the Empty Quarter), according to Aramco’s job adverts and technical studies. The company has awarded two contracts for the development of shale gas resources in the north.

http://interfaxenergy.com/gasdaily/article/22179/saudi-aramco-presses-on-with-shale-gas

Ironically KSA has some of the largest shale oil reserves/deposits as well.

I have not heard about such a project but I know that a deal was signed with Indonesia during King Salman's recent visit.

http://www.thejakartapost.com/news/...-investment-in-cilacap-refinery-minister.html

http://www.voanews.com/a/saudi-arabia-announces-indonesia-investment-as-king-vists/3745381.html

Wait, are you referring to news like this below?

https://www.kacst.edu.sa/eng/about/news/Pages/news730.aspx

http://www.newsweek.com/china-saudi-arabia-sign-deals-worth-65-billion-king-visit-568685

http://www.arabnews.com/node/1074461/business-economy

http://oilprice.com/Latest-Energy-N...amco-In-Talks-to-Build-Refinery-in-China.html

they should buy out CITGO as well. Venezuela needs cash and our politicians are freaking out over Russia getting the company with a Venezuela default..

I doubt that many governments and companies are too eager to invest in Venezuela right now. I would like for the Arab world and Latin America to have much greater and closer ties (the largest Arab diaspora in the world is found in Latin America where almost 30 million people have Arab ancestry) but Venezuela is a very volatile market to invest in. Especially as long as retarded communists are in power like Maduro.

 

[Mangus Ortus Novem]

Both ARAMCO and SABIC are world leaders/pioneers in their fields.

Speaking about shale.

Saudi Arabia
In mid-March 2013, The Saudi Minister of Petroleum and Mineral Resources Ali Naimi gave an estimate of over 600 trillion cubic feet of unconventional gas reserves, more than double its proven conventional reserves. That estimate would put Saudi Arabia fifth in a 32-country shale gas reserves ranking compiled for the U.S. Energy Information Administration.

https://en.wikipedia.org/wiki/Shale_gas_by_country

Saudi Aramco presses on with shale gas​

By Verity Ratcliffe
30 September 2016

The three main areas being targeted for shale gas exploration in Saudi Arabia.​

Saudi Aramco is pressing ahead with its shale gas development plans despite low oil prices and will start producing volumes within the next year, an anonymous source close to the company’s shale gas programme has told Interfax Natural Gas Daily.

The kingdom’s NOC will invest $334 billion by 2025 on its shale gas programme and other oil and gas projects, Aramco’s vice president for procurement and supply chain management, Abdulaziz al-Abdulkarim, said at the Petrotech conference in Bahrain on Monday. Funding will be given to "unconventional resources, both in the exploration phase and [in] development", as well as projects that will boost Saudi Arabia’s oil output, he said.

Aramco is targeting three areas with its unconventional gas exploration programme: the Northwest, South Ghawar and Rub’ al-Khali (the Empty Quarter), according to Aramco’s job adverts and technical studies. The company has awarded two contracts for the development of shale gas resources in the north.

http://interfaxenergy.com/gasdaily/article/22179/saudi-aramco-presses-on-with-shale-gas

Ironically KSA has some of the largest shale oil reserves/deposits as well.

I have not heard about such a project but I know that a deal was signed with Indonesia during King Salman's recent visit.

http://www.thejakartapost.com/news/...-investment-in-cilacap-refinery-minister.html

http://www.voanews.com/a/saudi-arabia-announces-indonesia-investment-as-king-vists/3745381.html

Wait, are you referring to news like this below?

https://www.kacst.edu.sa/eng/about/news/Pages/news730.aspx

http://www.newsweek.com/china-saudi-arabia-sign-deals-worth-65-billion-king-visit-568685

http://www.arabnews.com/node/1074461/business-economy

http://oilprice.com/Latest-Energy-N...amco-In-Talks-to-Build-Refinery-in-China.html



I doubt that many governments and companies are too eager to invest in Venezuela right now. I would like for the Arab world and Latin America to have much greater and closer ties (the largest Arab diaspora in the world is found in Latin America where almost 30 million people have Arab ancestry) but Venezuela is a very volatile market to invest in. Especially as long as retarded communists are in power like Maduro.

Thanks, my friend, for sharing valid information!

By the looks of things.. KSA wants to remain Engery Superpower... now that it is moving into the entire life cycle of oil/gas and petrochemicals. Or it already is?

I would like to understand are there spin-offs from this core industry .e.g. innovation centres, integeration of universities, management services... equippment/engineering services etc.

Thanks.

Surely makes a good study to learn how a very conservatie society is finding its way into 21st century global supply chains.

BTW China and Pak both have large reserves in Shael oil and gas... with the new tech coming online quickly and cost of extraction going down... I see these two nations becoming energy producers as well. Perhaps not the scale with which Nature has blessed you...nevertheless.

Hope to see cooperatioin in practical/industrial matters between KSA-Pak-China.

Looking forward to your feedback!

Regards,

SPF

 

[theman111]

it seems wierd why usa will sell its oil reserves

 

[The SC]

I would like to understand are there spin-offs from this core industry .e.g. innovation centres, integeration of universities, management services... equippment/engineering services etc.

Thanks.



SPF

The answer is yes, a whole lot of spin-offs..

 

[mike2000 is back]

it seems wierd why usa will sell its oil reserves

Why not? It just business and we live in a globalised WORLD. Moreover, KSA is not an enemy state. So why not?
Saudi Aramco is a financialgiant with several overseas investment around the globe. No reason they can't buy a refinery(the biggest) in the U.S. Both sides benefit alot from their close ties/alliance WIN-WIN

 

[The SC]

Why not? It just business and we live in a globalised WORLD. Moreover, KSA is not an enemy state. So why not?
Saudi Aramco is a financialgiant with several overseas investment around the globe. No reason they can't buy a refinery(the biggest) in the U.S. Both sides benefit alot from their close ties/alliance WIN-WIN

It is another boost to ARAMCO for the coming IPO.. They want it to be worth $2 trillion if it is not worth that already..

 

[XenoEnsi-14]

That's cool, since in about 50 years ARAMCO and all the oil industries will go the way of dinosaurs, Fusion power is you're kryptonite.

it seems wierd why usa will sell its oil reserves

^^^^ We don't it in the long term future, so why waste money on the past?

 

[BATMAN]

The day there comes a forced regime change in Riyadh. You better be ready with a pencil and a globe to redraw it. Get an eraser too.

How would it help you ?

 

[mike2000 is back]

That's cool, since in about 50 years ARAMCO and all the oil industries will go the way of dinosaurs, Fusion power is you're kryptonite.

^^^^ We don't it in the long term future, so why waste money on the past?

Oil isn't going anywhere anytime soon I'm afraid. People have been saying that for as long as I can remember.

 

[El Sidd]

How would it help you ?

It is none of my concern. Was just an observation.

 

[BATMAN]

It is none of my concern. Was just an observation.

Good observation Keep coming.

 

[XenoEnsi-14]

Oil isn't going anywhere anytime soon I'm afraid. People have been saying that for as long as I can remember.

It's OK, there's always a Debbie Downer to every party.

 

[gati11]

i dont understand why usa did it

Why not? It just business and we live in a globalised WORLD. Moreover, KSA is not an enemy state. So why not?
Saudi Aramco is a financialgiant with several overseas investment around the globe. No reason they can't buy a refinery(the biggest) in the U.S. Both sides benefit alot from their close ties/alliance WIN-WIN

its there biggeset
curator
they could export this oil why they give it another country no sense