April 23, 2012: Saudi Arabia needs CO2 for EOR in its old, declining fields. See first comment below.
Original PostLink here to Minyanville.
Minyanville asks the question: which refinery in the US is about to become the biggest refinery -- within the next month?
- Trainer, COP -- about to close
- Girard Point, Sunoco -- about to close
- Marcus Hook, Sunoco -- about to close
- Port Arthur, Saudi Refining/Shell -- about to become the biggest in US; among 10 largest in the world
- Eagle Ford
- Permian Basin
- Athabasca Oil Sands near Alberta, Canada
- will add significantly to vast quantity of oil moving to Port Arthur
- reversal set for May 17, 2012
- undergoing massive expansion
- capacity will more than double to 600,000 bopd
- will become largest in US; surpass XOM's Baytown by approx 40,000 bopd
- world's largest: Jamnagar, Gujarat, India: 1.24 bopd
- Port Arthur expansion: joint venture between Saudi Refining and Shell
- Saudi Refining: a subsidiary of the Saudi Arabian national oil company, Saudi Aramco
- expansion plans drawn up 6 years ago
- completion will coincide with Seaway Pipeline reversal
- imports of crude oil into the Gulf Coast region expected to plummet by 40% by 2016
- imports will decrease almost 2 million bopd to 5 million bopd
- that will take a lot of crude oil tankers off the high seas
Of all the refiners in the world (XOM, COP, Total, Shell, Saudi, CVX), I find it so interesting that one of the joint partners at Port Arthur is Aramco. Who wudda thought?