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Shell, Aramco $7bn Texas deal
- Saudi Arabia: Saturday, September 22 - 2007 at 09:13
Royal Dutch Shell and Saudi Aramco are to pump $7bn into their joint venture refinery at Port Arthur in Texas, reported the Financial Times. The facility will become the largest in the US, with a capacity of around 600,000 barrels per day, by 2010 when it comes on stream. The US has a severe shortage of refining capacity and no new refineries have built in the country in 30 years.
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