Saturday :: Jan 31, 2004

And Soon You Will Glad You DIDN'T But An SUV!

by pessimist

In an article posted January 29, 2004, WORLD TRIBUNE.COM says that the U.S. has quietly expelled dozens of Saudi diplomats. If I am any student of the current American government at all, I feel that this action was taken for this reason:

China's Sinopec wins Saudi gas block

Maybe it's getting to be time to get that Yugo or Vega running again before the cost of the parts goes up!

China's state-owned Sinopec Group has won a deal to explore and produce gas in Saudi Arabia in the second of three blocks to be awarded this week, industry sources said on Tuesday. The award of Block B, measuring about 38,000 square kilometres, follows Monday's announcement that Russia's LUKOIL had won an auction for rights to find and pump gas in the 29,900 square km Block A.

Lukoil? I thought Pooty-poot was Dumbya's Good Buddy!

Officials at Saudi Arabia's oil ministry were not immediately able to confirm Tuesday's deal but a Sinopec official said Saudi Arabia's state-owned Saudi Aramco would hold a 20 percent stake in the venture.

But the success of Russian and Chinese firms could also help Saudi Arabia forge closer cooperation with the world's second biggest oil exporter and fastest growing market. Saudi Aramco has a 25 percent stake in a planned $3 billion refinery and petrochemical venture led by Sinopec. It is China's largest crude supplier and also looks to supply China's planned strategic oil reserve.

Saudi Oil Minister Ali al-Naimi said at this year's economic forum in Davos that his country's ties with Beijing were likely to get stronger. "China is actually becoming quite a strategic ally for us in the energy business," he said. "They want to come upstream in Saudi Arabia. They are welcome, and we want to be downstream in China, where we are welcome."

Riyadh presented the three areas totalling 120,000 square kilometres last summer in a bid to reignite investor interest in gas exploration after the collapse of its $25 billion natural gas opening. Saudi Aramco will be a partner in each of the three areas in the South Ghawar region, which roughly cover the acreage originally offered to Exxon Mobil in negotiations that broke down last year.

Look for war next year, once Dumbya gets his election legitimacy and the draft is restarted. They will finally announce that they have "discovered" evidence that Saudi Arabia was behind 9/11, and just try to stop Americans from leading the charge to save "our" oil from "them for'ners".

pessimist :: 10:08 AM :: Comments (9) :: Digg It!