$7 billion expansion to generate new capacity by 2010
The plan is to expand the refinery's capabilities by 325,000 barrels a day, resulting in a refinery with a throughput capacity of 600,000 barrels a day, according to a statement from Motiva Enterprises, the jointly held unit of Shell and the state-owned Saudi Aramco.
Motiva said the expansion is the equivalent of building the first new refinery in the U.S. in more than 30 years. It expects the capacity to be online in 2010.
The cost of the expansion will be $7 billion, funded mostly through Motiva's earnings, according to a person familiar with the situation.More on the story.
1 comment:
The Saudis are slowing taking over the United States economy and land. Look for more of the Middle East in take over alot more before Bush leaves office. Smart move on their part as they now know the US economy is in trouble and are willing to put their money in the US. Yes China will do the same.
As the bible says be careful what you wish for. Americans have let the Bush/Cheney team give our country away and caused a debt we can't recover from. We'll be working for the Middle East soon.
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