http://story.news.yahoo.com/news?tmpl=story&cid=580&ncid=580&e=7&u=/nm/20040426/bs_nm/energy_saudi_refineries_dc
Mon Apr 26, 5:49 PM ET
Add Business - Reuters to My Yahoo!
NEW YORK (Reuters) - Saudi oil minister Ali al-Naimi said on Monday that Saudi Arabia plans to build two 500,000 barrel-per-day (bpd) refineries in the United States as soon as the kingdom is given permission to do so.
Related Quotes
DJIA
NASDAQ
^SPC
9958.43
1922.98
1095.41
-8.31
+10.89
+1.85
delayed 20 mins - disclaimer
Quote Data provided by Reuters
What is the Future of Windows?
Will the next version of Windows be revolutionary or the same old same old? Get a sense for what's coming -- then stay safe with the latest service pack and get some XP tips.
Al-Naimi said that Saudi Arabia is committed to alleviating the bottleneck in U.S. refinery capacity and has offered to help by building the two refineries. Al-Naimi disclosed the Saudi plan in a U.S.-Saudi business conference in New York but did not provide details.
Al-Naimi also said Saudi Arabia has two world class phosphate and bauxite deposits which it hopes to develop and it will be soliciting bids for their development.
"Saudi oil minister Ali al-Naimi said on Monday that Saudi Arabia plans to build two 500,000 barrel-per-day (bpd) refineries in the United States as soon as the kingdom is given permission to do so."
Watch that move very closely to see exactly which corporations in the USA work against it.