Aramco starts work on US refinery expansion update
Motiva Enterprise, a joint venture between Saudi Aramco and Royal Dutch Shell, has started work on expanding its Port Arthur refinery to make it the largest in the US, Aramco said on Tuesday.Once completed in 2010, the expansion project will almost double the refinery’s capacity to 600,000 barrels per day (bpd).Although Aramco did not disclose any figures on the cost of the expansion, people familiar with the project estimate the cost to between $5 billion and $7 billion.
Yay! This is good news for the U.S. who has badly needed refineries to expand to support the nation’s gasoline addiction.
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