15 Jan '12, 2pm

#peakoil Saudi, Chinese oil giants ink joint refinery deal: Saudi state oil giant Aramco inked a deal Saturday w...

Saudi, Chinese oil giants ink joint refinery deal Saudi state oil giant Aramco inked a deal Saturday with China’s Sinopec to build an oil refinery in the Red Sea city of Yanbu that will process 400,000 barrels per day, state news agency SPA said. The project, named Yasref, aims to be operational in 2014, SPA reported. Saudi Aramco will hold a 62.5 percent stake with Sinopec holding the balance in the venture that highlights China’s growing role as an infrastructure developer in the oil rich kingdom. The deal “represents a strategic partnership in the refining industry between one of the main energy producers in Saudi Arabia and one of the world’s most important consumers,” said Aramco president and CEO Khalid al-Falih. The announcement comes as Chinese Premier Wen Jiabao headed to the Middle East on a trip to key oil-producing nations — with Saudi Arabia as his first stop ...

Full article: http://peakoil.com/production/saudi-chinese-oil-giants-in...

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China's Wen holds talks in oil-rich Saudi

China's Wen holds talks in oil-rich Saudi

channelnewsasia.com 15 Jan '12, 3pm

RIYADH: Chinese Premier Wen Jiabao held talks with Saudi officials in Riyadh on the first stop of a Gulf tour, as tensions...

#peakoil Triple digit oil prices to hamper growth: The global economy depends on oil as the human body on blood....

#peakoil Triple digit oil prices to hamper grow...

peakoil.com 15 Jan '12, 7pm

Economies in the Gulf should continue to benefit from healthy income from their crude trade. The Institute of Internationa...

Iran warns Gulf countries not to replace its oil

straitstimes.com 15 Jan '12, 8am

TEHRAN (REUTERS) - Iran warned its Arab neighbours on Sunday not to raise crude output to replace Iranian oil in the event...

Chinese Premier Wen drops in on Nepal

Chinese Premier Wen drops in on Nepal

channelnewsasia.com 14 Jan '12, 8am

KATHMANDU: Chinese Premier Wen Jiabao arrived in Kathmandu on Saturday for talks marking the first visit to Nepal in a dec...