Wednesday, December 5, 2007

Meeting the Global Energy Challenge

by Mohammed Al Qahtani from the Saudi-US Relations Information Service (US: Tennessee)

The strong bond between Saudi Aramco and American oilmen began in the 1930s when Damman well number 7 literally "gushered" in the oil business for Saudi Arabia. Since then, thousands of Americans have spent their careers working for Saudi Aramco, helping build the world's leading oil company. Saudi Aramco currently delivers 1.4 million barrels of crude oil to the United States every day. This represents about 15% of the total U.S. oil imports. In addition, Saudi Aramco has purchased billions worth of goods and services from American suppliers during the last decade alone. And it now has hundreds of contracts with U.S.-based companies. Saudi Aramco is also a partner through a wholly-owned subsidiary with Shell and Motiva Enterprises. We just last month announced a 325,000 barrels per day capacity expansion at its Port Arthur, Texas refinery. The expansion will increase the refinery's crude oil throughput capacity to a total of 600,000 barrels per day. This will make it the largest refinery in the U.S. and one of the largest in the world.

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