28-04-04

Saudi oil minister Ali al-Naimi said that Saudi Arabia plans to build two 500,000 bpd refineries in the United States as soon as the kingdom is given permission to do so.

Al-Naimi said that Saudi Arabia is committed to alleviating the bottleneck in US refinery capacity and has offered to help by building the two refineries. Al-Naimi disclosed the Saudi plan in a US-Saudi business conference in New York.

Al-Naimi also said Saudi Arabia has two world class phosphate and bauxite deposits which it hopes to develop and it will be soliciting bids for their development.

Source: Tehran Times