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China pursues world-class refining facilities with OPEC partners

GasBuddy Blog -- When the world's largest oil producer (Saudi Arabia) partnered with the world's second largest oil consumer (China) in January, strangely it drew little attention in U.S. media.

But it is this latest development that reflects strikingly disparate national perspectives on refining capacity and global needs.

While rising crude oil prices exert pressure on refineries worldwide, different countries seek solutions in different ways. In the U.S. we are losing refining capacity annually and yet we continue to regulate them out of existence. China, on the other hand, partners with Middle Eastern suppliers and builds for the future.

China's latest deal is simply "the largest expansion by any oil company in the world...

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Submitted Mar 19, 2012 By: PD

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thebrohta167 Champion Author New Jersey Posts:1,466 Points:235,315 Joined:Nov 2010	Message Posted: Mar 19, 2012 8:59:17 PM Ignore thebrohta167 Report Abuse ok
eppylover Sophomore Author Grand Rapids Posts:231 Points:38,180 Joined:Nov 2009	Message Posted: Mar 19, 2012 8:58:38 PM Ignore eppylover Report Abuse Yes, mikerroy, I heartily second your approval of what bigoilscamsus said!
SparkieMi Champion Author Kalamazoo Posts:3,256 Points:586,960 Joined:Sep 2011	Message Posted: Mar 19, 2012 8:58:21 PM Ignore SparkieMi Report Abuse Who is going to build these refineries????
bif65 Champion Author Virginia Posts:1,023 Points:195,230 Joined:Jan 2011	Message Posted: Mar 19, 2012 8:57:58 PM Ignore bif65 Report Abuse ok
blazerbob91 Champion Author Milwaukee Posts:6,135 Points:1,881,720 Joined:Aug 2005	Message Posted: Mar 19, 2012 8:57:48 PM Ignore blazerbob91 Report Abuse And they are shutting refineries in the US.
carloco75 Champion Author Richmond Posts:3,711 Points:599,390 Joined:Oct 2010	Message Posted: Mar 19, 2012 8:57:30 PM Ignore carloco75 Report Abuse Interesting...
BooHooMI Champion Author Michigan Posts:1,556 Points:344,610 Joined:Sep 2010	Message Posted: Mar 19, 2012 8:55:55 PM Ignore BooHooMI Report Abuse Who would have thought the Chi-Coms got more going for them than Uncle Sam. Should have nuked them like General MacArthur had planned when they were murdering GI's during the Korean War.
Hewy67 Sophomore Author Grand Rapids Posts:156 Points:442,795 Joined:Apr 2008	Message Posted: Mar 19, 2012 8:55:51 PM Ignore Hewy67 Report Abuse oh boy!
danol43 Champion Author Modesto Posts:1,697 Points:587,430 Joined:May 2011	Message Posted: Mar 19, 2012 8:53:42 PM Ignore danol43 Report Abuse That was expected.
RAKARWOWSKI Champion Author Chicago Posts:3,990 Points:819,075 Joined:Jan 2011	Message Posted: Mar 19, 2012 8:51:55 PM Ignore RAKARWOWSKI Report Abuse OK.
drz614 Champion Author Harrisburg Posts:2,294 Points:596,645 Joined:Aug 2011	Message Posted: Mar 19, 2012 8:50:57 PM Ignore drz614 Report Abuse ok
mikerroy Champion Author Albuquerque Posts:2,556 Points:718,970 Joined:May 2005	Message Posted: Mar 19, 2012 8:48:20 PM Ignore mikerroy Report Abuse bigoilscamsus, cound not have said better.
Paw5X Champion Author Gary Posts:9,893 Points:2,266,330 Joined:May 2005	Message Posted: Mar 19, 2012 8:47:28 PM Ignore Paw5X Report Abuse Now we are in deep trouble with China getting involved with OPEC!
txkrb Champion Author Texas Posts:1,558 Points:637,490 Joined:May 2011	Message Posted: Mar 19, 2012 8:46:10 PM Ignore txkrb Report Abuse We will need increase refining capacity in the US in the future, but with the excess capacity now there is no incentive for refiners to build or expand
bigoilscamsus Champion Author Lansing Posts:1,058 Points:48,265 Joined:Nov 2011	Message Posted: Mar 19, 2012 8:39:19 PM Ignore bigoilscamsus Report Abuse 96sc1----- What put michigan out of business was the Reagan era deregulation and the shipping of our jobs out of the country where big corporations could make more profits. Greed kicked in to the max!! When the new technology of underground directional boring became available, ExxonMobil started pipelines to Canada to get our crude into the international market. They then had their friends in Canada pipe it back to the us at the higher price to make more money for the big Oil monopoly!! At the same time the OPEC nations would sell us crude for 6to 8 dollars per barrel so our oil companies stopped looking for oil in the Us and did less and made more money by processing the foreign crude !! We need controls on the Big Oil monopolies before our countries economy goes into a depression!!
BKool Champion Author Michigan Posts:5,253 Points:1,898,355 Joined:Aug 2005	Message Posted: Mar 19, 2012 8:39:19 PM Ignore BKool Report Abuse China's goal is to be #1 and lead the rest of the world. The United States is lead by a man who foolishly thinks being #1 and leading the world is evil.
SparkieMi Champion Author Kalamazoo Posts:3,256 Points:586,960 Joined:Sep 2011	Message Posted: Mar 19, 2012 8:38:53 PM Ignore SparkieMi Report Abuse Surprise, surprise......
SUSANCK Champion Author Chicago Posts:3,632 Points:706,505 Joined:Apr 2011	Message Posted: Mar 19, 2012 8:38:32 PM Ignore SUSANCK Report Abuse China is always on top of things..
ILoveGoldens All-Star Author Kentucky Posts:901 Points:378,880 Joined:Aug 2011	Message Posted: Mar 19, 2012 8:35:46 PM Ignore ILoveGoldens Report Abuse China is well on their way to be #1.
Pumpz Sophomore Author Boston Posts:197 Points:887,125 Joined:Apr 2004	Message Posted: Mar 19, 2012 8:33:18 PM Ignore Pumpz Report Abuse Good for China. No idea what a "world class" refining facility is, or how it differs from say Houston's.
JENNYHK Champion Author Chicago Posts:3,631 Points:711,595 Joined:Apr 2011	Message Posted: Mar 19, 2012 8:32:03 PM Ignore JENNYHK Report Abuse It seems China and the Saudis are on the ball---wish we were.
serrog Champion Author Nova Scotia Posts:5,559 Points:1,511,155 Joined:Oct 2008	Message Posted: Mar 19, 2012 8:31:00 PM Ignore serrog Report Abuse Now that's the way to do business.
djm5x9 Champion Author Atlanta Posts:1,848 Points:519,230 Joined:Nov 2010	Message Posted: Mar 19, 2012 8:27:30 PM Ignore djm5x9 Report Abuse OK.
darkknight1 Champion Author Winston-Salem Posts:4,330 Points:894,110 Joined:Nov 2010	Message Posted: Mar 19, 2012 8:27:23 PM Ignore darkknight1 Report Abuse not surprised
southrob Champion Author Tucson Posts:3,590 Points:686,225 Joined:Mar 2011	Message Posted: Mar 19, 2012 8:21:34 PM Ignore southrob Report Abuse somebody has to. we are not doing anything
abcdMA Champion Author Worcester Posts:7,917 Points:1,574,005 Joined:Nov 2008	Message Posted: Mar 19, 2012 8:21:04 PM Ignore abcdMA Report Abuse not they have foresight
oldosc8 Champion Author Baltimore Posts:1,784 Points:450,045 Joined:Nov 2009	Message Posted: Mar 19, 2012 8:18:13 PM Ignore oldosc8 Report Abuse The government and envirowacos do not want anymore refineries. To many rules and regulations.
lyons_coop Veteran Author Kansas Posts:411 Points:153,710 Joined:Jan 2012	Message Posted: Mar 19, 2012 8:18:03 PM Ignore lyons_coop Report Abuse Smart move for the Chinese, no enviromental concerns.
MRED3 Champion Author Jacksonville Posts:4,005 Points:930,050 Joined:May 2009	Message Posted: Mar 19, 2012 8:16:54 PM Ignore MRED3 Report Abuse ok
eblair54 Sophomore Author Missouri Posts:143 Points:436,250 Joined:Sep 2011	Message Posted: Mar 19, 2012 8:14:16 PM Ignore eblair54 Report Abuse Well, I hate to pat China on the back, but they are making the right move by investing in infrastructure. More refinery capacity is key to keeping supply stable, which has an effect on price. I'm not sure how much of this you can blame on Obama. It takes a lot of money and a long time to build one of these things, and I sure didn't see any movement in that direction when George W. Bush was President. Did he make it impossible to build refineries?? No. The oil companies decided to put it off, and now we are at reduced capacity. I would blame the oil companies first, for a lack of long-range planning.
kawayomaana Champion Author Salt Lake City Posts:1,678 Points:430,215 Joined:Feb 2011	Message Posted: Mar 19, 2012 8:12:14 PM Ignore kawayomaana Report Abuse yup just like everything else.....china gets the job which is why we created a tshirt (copyrighted!) why learn spanish when all the jobs are in china!
kriketgirl Veteran Author Michigan Posts:307 Points:1,067,170 Joined:May 2009	Message Posted: Mar 19, 2012 8:11:11 PM Ignore kriketgirl Report Abuse ok
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DustyHorse Champion Author Virginia Posts:6,079 Points:1,390,785 Joined:Oct 2008	Message Posted: Mar 19, 2012 8:08:04 PM Ignore DustyHorse Report Abuse We need to ease the regulations on refineries in the US. Sadly it won't happen with the current administration.
Thomtec Champion Author Nashville Posts:2,459 Points:607,170 Joined:May 2011	Message Posted: Mar 19, 2012 8:07:30 PM Ignore Thomtec Report Abuse The liberal wackos in congress have not permitted the building of a new refinery in 36 years in this country . Now don't you feel better and glad that that kind of shortsighted sanctimony is looking out for us.
aquarinut Champion Author British Columbia Posts:1,628 Points:436,105 Joined:Jul 2011	Message Posted: Mar 19, 2012 8:05:16 PM Ignore aquarinut Report Abuse Technology taken from the west and developed in the east to make the west more dependant on the east!!! Once the east out strips the west in technology... THEN we're in REAL trouble!!! The east doesn't sleep or fall back on pipe dreams!!! WAKE up obama!!! Your pipe dream of a green America may be purchased from China!!!! Oh yeah.... this agenda doesn't really matter since you don't have to deal with this on a personal level.... tax money is paying for expenses and you'll retire on tax money worth millions so you will never have to go through the average American day to day dilemmas!!!
30mpg80 Champion Author Lexington Posts:10,014 Points:1,485,905 Joined:Nov 2008	Message Posted: Mar 19, 2012 8:02:59 PM Ignore 30mpg80 Report Abuse China raising gas and diesel prices, "This latest move is expected to bring China oil refiners such as Sinopec closer to break-even." Our refineries have to more than break even to stay in business
us4usa Champion Author Missouri Posts:5,984 Points:1,111,375 Joined:May 2008	Message Posted: Mar 19, 2012 7:57:10 PM Ignore us4usa Report Abuse Good thing we still have some horses around the farm, or is Uncle Sam going to give us a new volt...
DeeLA Champion Author Los Angeles Posts:4,807 Points:1,363,380 Joined:Nov 2008	Message Posted: Mar 19, 2012 7:57:05 PM Ignore DeeLA Report Abuse Interesting
blah2blah3 Champion Author Houston Posts:2,596 Points:598,920 Joined:May 2011	Message Posted: Mar 19, 2012 7:57:00 PM Ignore blah2blah3 Report Abuse ok
bvrbill Champion Author Eugene Posts:3,207 Points:516,800 Joined:Jul 2011	Message Posted: Mar 19, 2012 7:56:56 PM Ignore bvrbill Report Abuse Oil is just a part of our economy. China seems to understand this. Our economy will continue to suffer while China's expands.
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Mar 19, 2012 7:53:23 PM Ignore 96sc1 Report Abuse @bigoilscamsus That's the kind of talk that put Michigan out of business.
autohio Champion Author Ohio Posts:3,765 Points:818,275 Joined:Jan 2011	Message Posted: Mar 19, 2012 7:52:34 PM Ignore autohio Report Abuse Fun
Blue48 Champion Author Illinois Posts:7,300 Points:1,636,970 Joined:Feb 2007	Message Posted: Mar 19, 2012 7:50:14 PM Ignore Blue48 Report Abuse I SEE RED PEOPLE!
bevmill Champion Author Georgia Posts:2,572 Points:598,595 Joined:Apr 2006	Message Posted: Mar 19, 2012 7:49:59 PM Ignore bevmill Report Abuse ok
fenster66 Champion Author Pittsburgh Posts:3,345 Points:673,115 Joined:May 2011	Message Posted: Mar 19, 2012 7:49:48 PM Ignore fenster66 Report Abuse China's well on its way to claiming the world's resources for itself....
skybiker Champion Author South Carolina Posts:7,287 Points:1,558,440 Joined:Jul 2008	Message Posted: Mar 19, 2012 7:47:53 PM Ignore skybiker Report Abuse Abolish the EPA!!!>>>
FlyNFool Champion Author South Carolina Posts:8,234 Points:1,683,250 Joined:Aug 2008	Message Posted: Mar 19, 2012 7:43:47 PM Ignore FlyNFool Report Abuse Are we really surprised?
SpankyMI Champion Author Kalamazoo Posts:2,703 Points:758,305 Joined:Jan 2011	Message Posted: Mar 19, 2012 7:43:13 PM Ignore SpankyMI Report Abuse It is too bad we cant export the EPA to China, that would surely put the screws to them!
toadNY Champion Author Albany Posts:7,037 Points:1,512,175 Joined:Apr 2008	Message Posted: Mar 19, 2012 7:43:09 PM Ignore toadNY Report Abuse Will we be able to buy gas at the dollar store?
DriverofRed Champion Author Calgary Posts:2,173 Points:411,885 Joined:Dec 2011	Message Posted: Mar 19, 2012 7:42:47 PM Ignore DriverofRed Report Abuse US goverment does everything to screw its people up