Huge, Huge Things Going On In The Energy Arena -- Headline Story In NYT -- Saudi Bidding For Another US Refinery -- September 12, 2016

Data points from the NYT article:

• LyondellBasell refinery in the Houston Ship Channel up for sale
• capacity 270,000 bopd; would increase Saudi's capacity on Gulf coast by 50%
• Saudi Aramco, Valero (US), Suncor (Canadian), and Cenovus (Canadian) are bidding for it
• may go for $1.5 billion
• the article reminds us of the $10 billion Saudi Aramco expansion of a giant oil refinery in Port Arthur, TX; joint venture with Royal Dutch Shell called Motiva Enterprises; after that, the two companies "separated"
• LyondellBasell: a Dutch company
• this would help ensure market for Saudi oil in US
• imports of Saudi crude have dropped in recent years; from 1.8 million bopd in 2003 to 1.1 million bopd this year (2016)