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Saudi to tap Asia demand in oil, gas expansion
- Saudi Arabia: Saturday, November 14 - 2009 at 09:16
Saudi Arabia Oil Minister Ali al-Naimi, the kingdom is tapping the rising demand in Asia and has begun expanding started and upgrading its oil and gas production and refining business at a cost of $100bn, Bloomberg has reported. Al-Naimi added that Saudi Arabia is doubling its domestic and international oil refining capacity by 2015 while kingdom's current share of refining capacity in China, Japan and South Korea amounts to 1.32 million barrels a day.
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