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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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REPLIES (newest first) Post a Reply
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thebrohta167
Champion Author New Jersey

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Message Posted: Mar 19, 2012 8:59:17 PM

ok
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eppylover
Sophomore Author Grand Rapids

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Message Posted: Mar 19, 2012 8:58:38 PM

Yes, mikerroy, I heartily second your approval of what bigoilscamsus said!
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Mar 19, 2012 8:58:21 PM

Who is going to build these refineries????
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bif65
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Message Posted: Mar 19, 2012 8:57:58 PM

ok
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blazerbob91
Champion Author Milwaukee

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Message Posted: Mar 19, 2012 8:57:48 PM

And they are shutting refineries in the US.
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carloco75
Champion Author Richmond

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Message Posted: Mar 19, 2012 8:57:30 PM

Interesting...
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BooHooMI
Champion Author Michigan

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Message Posted: Mar 19, 2012 8:55:55 PM

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.
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Hewy67
Sophomore Author Grand Rapids

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Message Posted: Mar 19, 2012 8:55:51 PM

oh boy!
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danol43
Champion Author Modesto

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Message Posted: Mar 19, 2012 8:53:42 PM

That was expected.
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RAKARWOWSKI
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Message Posted: Mar 19, 2012 8:51:55 PM

OK.
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drz614
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Message Posted: Mar 19, 2012 8:50:57 PM

ok
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mikerroy
Champion Author Albuquerque

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Message Posted: Mar 19, 2012 8:48:20 PM

bigoilscamsus, cound not have said better.
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Paw5X
Champion Author Gary

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Message Posted: Mar 19, 2012 8:47:28 PM

Now we are in deep trouble with China getting involved with OPEC!
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txkrb
Champion Author Texas

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Message Posted: Mar 19, 2012 8:46:10 PM

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
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bigoilscamsus
Champion Author Lansing

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Message Posted: Mar 19, 2012 8:39:19 PM

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!!
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BKool
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Message Posted: Mar 19, 2012 8:39:19 PM

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.
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Mar 19, 2012 8:38:53 PM

Surprise, surprise......
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SUSANCK
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Message Posted: Mar 19, 2012 8:38:32 PM

China is always on top of things..
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ILoveGoldens
All-Star Author Kentucky

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Message Posted: Mar 19, 2012 8:35:46 PM

China is well on their way to be #1.
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Pumpz
Sophomore Author Boston

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Message Posted: Mar 19, 2012 8:33:18 PM

Good for China. No idea what a "world class" refining facility is, or how it differs from say Houston's.
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JENNYHK
Champion Author Chicago

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Message Posted: Mar 19, 2012 8:32:03 PM

It seems China and the Saudis are on the ball---wish we were.
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serrog
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Message Posted: Mar 19, 2012 8:31:00 PM

Now that's the way to do business.
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djm5x9
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Message Posted: Mar 19, 2012 8:27:30 PM

OK.
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darkknight1
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Message Posted: Mar 19, 2012 8:27:23 PM

not surprised
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southrob
Champion Author Tucson

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Message Posted: Mar 19, 2012 8:21:34 PM

somebody has to. we are not doing anything
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abcdMA
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Message Posted: Mar 19, 2012 8:21:04 PM

not they have foresight
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oldosc8
Champion Author Baltimore

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Message Posted: Mar 19, 2012 8:18:13 PM

The government and envirowacos do not want anymore refineries. To many rules and regulations.
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lyons_coop
Veteran Author Kansas

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Message Posted: Mar 19, 2012 8:18:03 PM

Smart move for the Chinese, no enviromental concerns.
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MRED3
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Message Posted: Mar 19, 2012 8:16:54 PM

ok
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eblair54
Sophomore Author Missouri

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Message Posted: Mar 19, 2012 8:14:16 PM

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.
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kawayomaana
Champion Author Salt Lake City

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Message Posted: Mar 19, 2012 8:12:14 PM

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!
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kriketgirl
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Message Posted: Mar 19, 2012 8:11:11 PM

ok
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IUVidiot
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Message Posted: Mar 19, 2012 8:09:16 PM

ok
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tippybuddy
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Message Posted: Mar 19, 2012 8:08:38 PM

ok
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DustyHorse
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Message Posted: Mar 19, 2012 8:08:04 PM

We need to ease the regulations on refineries in the US. Sadly it won't happen with the current administration.
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Thomtec
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Message Posted: Mar 19, 2012 8:07:30 PM

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.
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aquarinut
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Message Posted: Mar 19, 2012 8:05:16 PM

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!!!
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30mpg80
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Message Posted: Mar 19, 2012 8:02:59 PM

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
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us4usa
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Message Posted: Mar 19, 2012 7:57:10 PM

Good thing we still have some horses around the farm, or is Uncle Sam going to give us a new volt...
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DeeLA
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Message Posted: Mar 19, 2012 7:57:05 PM

Interesting
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blah2blah3
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Message Posted: Mar 19, 2012 7:57:00 PM

ok
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bvrbill
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Message Posted: Mar 19, 2012 7:56:56 PM

Oil is just a part of our economy. China seems to understand this. Our economy will continue to suffer while China's expands.
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96sc1
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Message Posted: Mar 19, 2012 7:53:23 PM

@bigoilscamsus

That's the kind of talk that put Michigan out of business.
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autohio
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Message Posted: Mar 19, 2012 7:52:34 PM

Fun
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I SEE RED PEOPLE!
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bevmill
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Message Posted: Mar 19, 2012 7:49:59 PM

ok
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fenster66
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Message Posted: Mar 19, 2012 7:49:48 PM

China's well on its way to claiming the world's resources for itself....
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skybiker
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Abolish the EPA!!!>>>
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FlyNFool
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Are we really surprised?
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It is too bad we cant export the EPA to China, that would surely put the screws to them!
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toadNY
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Will we be able to buy gas at the dollar store?
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DriverofRed
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US goverment does everything to screw its people up
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