A Saudi-Backed Asia Refinery Is Going to Be a Fuel Juggernaut

Hey, you see all that talk of tightening oil supplies that are supposed to justify a bull run stampede toward triple digit oil prices?

Here ya go.  Time for a bull riding rodeo.

A Saudi-Backed Asia Refinery Is Going to Be a Fuel Juggernaut

"As China sends a flood of fuel abroad, a giant project in Southeast Asia that’s backed by Saudi Arabia is set to add to the regional deluge.

State-run Saudi Arabian Oil Co. is helping finance a $27 billion refinery and a petrochemical complex in Malaysia’s southern state of Johor. The project, known as Refinery and Petrochemicals Integrated Development, or RAPID, will add a new stream of fuels near Asia’s main oil trading hub of Singapore at a time when China continues to unleash record amounts of diesel and gasoline onto the global market. ..."

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And, um, the $44-billion Indian refinery and petrochem complex? Add that, too.

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