Monday, April 18, 2011

No Love Lost Between Saudi Arabia and US

Aramco (Saudi Arabia's state-owned oil company) signed a deal with PetroChina for a joint venture to build a 200,000 bopd refinery in Yunnan Province.
Aramco Overseas Co. BV and PetroChina Co. Ltd. have signed a memorandum of understanding for joint development of a 200,000-b/d grassroots refinery in Yunnan Province in far southwestern China.
One can only assume the memorandum of understanding includes a clause for Saudi Arabia to supply the crude oil to keep the refinery running at full capacity (or at levels requested by PetroChina).

I'm sure this is just business as usual, but one wonders about the timing, coming so soon after Egyptian president Mubarak was removed from office, and news stories that Saudi Arabia had sent emissaries to Russia and China soon thereafter. 
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2 comments:

  1. AnonymousApril 18, 2011 at 10:57 PM

    Slightly off-topic, but New Yorker article entitled "Kuwait on the Priarie"

    http://www.newyorker.com/reporting/2011/04/25/110425fa_fact_konigsberg

    ReplyDelete
  2. Bruce OksolApril 19, 2011 at 8:42 AM

    Thank you. I had not seen that article, but will definitely access/read it later.

    "The New Yorker" magazine has always been my favorite. I have the entire archives on hard drive that they produced some years ago.

    I quit subscribing when I started traveling and couldn't keep up with all the issues. Maybe I need to subscribe again. Unfortunately some of the contributors I enjoy(ed) most are no longer with us.

    Thank you very much for taking time to comment. I will use your link as a stand-alone post

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