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Saudis to double refining capacity
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SPECIAL TO WORLD TRIBUNE.COM
Friday, February 17, 2006
ABU DHABI — Saudi Arabia plans to double its oil refining capacity
by 2011.
Saudi Oil Minister Ali Al Nueimi said the kingdom would increase
refining capacity to six
million barrels per day within five years. The minister said the project was
meant to help stabilize the global market, reported to have experienced a
shortage in refined oil, Middle East Newsline reported.
Officials said the Saudi aim was to bolster the capacity of eight
refineries owned by the kingdom. They said Riyad also planned to build
refineries inside Saudi Arabia and abroad.
Saudi Arabia, which produces 9.5 million barrels per day, has a refining
capacity of around three million barrels per day. Two-thirds of the capacity
has been produced in the kingdom.
Copyright © 2006 East West
Services, Inc.
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