Saudi, UAE discuss $70B crude refinery project in India

[HAIDER]

By Associated Press
November 28, 2019 at 1:53 a.m. CST
DUBAI, United Arab Emirates — Saudi Arabia and the United Arab Emirates discussed a planned refinery in the western Indian state of Maharashtra that will cost at least $70 billion, a figure that exceeds the initial $44 billion estimate previously announced.

The new figure came from readout of a meeting in the UAE between Saudi Crown Prince Mohammed bin Salman and Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan Wednesday evening.

The statement said the two sides discussed the initiative, first announced in 2018, to develop the refinery and petrochemicals complex, which would secure the supply of 600,000 barrels per day of Saudi and Emirati crude oil for India’s market.

The project, which would be run by a consortium that includes Saudi Aramco and ADNOC, has yet to get started or secure land.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
https://www.washingtonpost.com/worl...2ca8fc-11b4-11ea-924c-b34d09bbc948_story.html

 

[Philip the Arab]

By Associated Press
November 28, 2019 at 1:53 a.m. CST
DUBAI, United Arab Emirates — Saudi Arabia and the United Arab Emirates discussed a planned refinery in the western Indian state of Maharashtra that will cost at least $70 billion, a figure that exceeds the initial $44 billion estimate previously announced.

The new figure came from readout of a meeting in the UAE between Saudi Crown Prince Mohammed bin Salman and Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan Wednesday evening.

The statement said the two sides discussed the initiative, first announced in 2018, to develop the refinery and petrochemicals complex, which would secure the supply of 600,000 barrels per day of Saudi and Emirati crude oil for India’s market.

The project, which would be run by a consortium that includes Saudi Aramco and ADNOC, has yet to get started or secure land.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
https://www.washingtonpost.com/worl...2ca8fc-11b4-11ea-924c-b34d09bbc948_story.html

They are playing India m8. They aren't going to build a refinery, and just looking to sell India way more oil and make profits.

 

[Genghis khan1]

They are playing India m8. They aren't going to build a refinery, and just looking to sell India way more oil and make profits.

Agree, drama to build some leverage against India importing Iranian oil. Same $10 billion drama they did with Pakistan last year.

 

[HAIDER]

They are playing India m8. They aren't going to build a refinery, and just looking to sell India way more oil and make profits.

Indian are not easy negotiator. They won't let go this deal. Some very wealthy Indians are UAE king adviser and also same to Saudi king. But, yes this investment will take atleast and over 5 years to complete.

 

[Goku]

Indian are not easy negotiator. They won't let go this deal. Some very wealthy Indians are UAE king adviser and also same to Saudi king. But, yes this investment will take atleast and over 5 years to complete.

This project is facing a lot of opposition from local farmers and fishing community. Project will be delayed but will happen for sure. Its a strategic project.
Both UAE and Saudi have also agreed to invest in Indias strategic oil reserves. Such reserves are important in times of emergency like War

 

[Lincoln]

This project is facing a lot of opposition from local farmers and fishing community. Project will be delayed but will happen for sure. Its a strategic project.
Both UAE and Saudi have also agreed to invest in Indias strategic oil reserves. Such reserves are important in times of emergency like War

It's an oil refinery. They will use it to deliver oil to Indian markets.

Nothing about it is strategic or "reserve."
It's business. More and easier exports, and to replace Iran.

If it was strategic, Pakistan would have made reservations with Saudi Arabia, and Saudi Arabia would never go ahead with something of that sort.

 

[HAIDER]

It's an oil refinery. They will use it to deliver oil to Indian markets.

Nothing about it is strategic or "reserve."
It's business. More and easier exports, and to replace Iran.

If it was strategic, Pakistan would have made reservations with Saudi Arabia, and Saudi Arabia would never go ahead with something of that sort.

This project was initially started for oil depot , which can be used to supply oil to next door countries too. But , now Saudi want to change it into mega supply chain station with refinery. Before they were planning to build on Gawadar.

 

[rajiv sharma]

They are playing India m8. They aren't going to build a refinery, and just looking to sell India way more oil and make profits.

https://www.reuters.com/article/us-...o-chemicals-arm-to-saudi-aramco-idUSKCN1V20FG
do some home work before analyzing and making predictions BTW they have huge plans for India viz a viz investments and keep following the topic till 2020 end , many things will unfold till then i bought reliance @ 1270 . cmp 1575 will touch 2500 till 2020 and mukesh will become the richest . and i do my home work always

 

[Goku]

It's an oil refinery. They will use it to deliver oil to Indian markets.

Nothing about it is strategic or "reserve."
It's business. More and easier exports, and to replace Iran.

If it was strategic, Pakistan would have made reservations with Saudi Arabia, and Saudi Arabia would never go ahead with something of that sort.

This project is indeed strategic nature. Think why would India ask Saudis and UAE(paks closest allies) to invest in refinery. To basically insure them from any external attacks.
Now the point i was talking about is this:
https://m.economictimes.com/industr...age-to-adnoc-sources/articleshow/66584667.cms
UAE storing crude oil in Indias emergency resrves ,soon Aramco will follow.

 

[Last starfighter]

As I've said before the Arabs like to lick the as* of the cow worshipers.

The endian have promised them sunney Leone for the weekend lol

 

[Saddam Hussein]

As I've said before the Arabs like to lick the as* of the cow worshipers.

The endian have promised them sunney Leone for the weekend lol

Arabs will civilise India as we have civilized you

 

[Last starfighter]

Arabs will civilise India as we have civilized you

Lmao. A bunch of heathens

 

[PakFactor]

Lmao. A bunch of heathens

lol. This guy is funny to have around.