Trump Allows Saudi Oil Deal to go Through. Saudis Now Own America's Largest Oil Refin - GoFuckYourself.com

Bladewire · 05-01-2017, 12:07 PM

Trump could have stopped this deal the first day he took office, evidently "Sell America First" is his real motto.

How do we Make America Great Again by allowing our largest oil competitor to own & control our largest oil refinery?

Where's the art of the deal?

----

Saudis to take control of largest U.S. refinery

Saudi Aramco, the state oil company of OPEC's most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. The Gulf Coast facility is the largest refinery in the U.S. and can process 600,000 barrels of oil a day.
Port Arthur has great strategic value, especially given the American oil boom that has eased U.S. appetite for foreign oil.

Saudis to take control of largest U.S. refinery.

Saudi Aramco, the state oil company of OPEC's most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. The Gulf Coast facility is the largest refinery in the U.S. and can process 600,000 barrels of oil a day.
Port Arthur has great strategic value, especially given the American oil boom that has eased U.S. appetite for foreign oil.

It will give the Saudis complete control over the refinery. They could then likely bring more of their own crude oil into the U.S. for refining and selling in the North American market.

"Saudi Arabia would have an anchor tenant for much of their crude oil production," said Tom Kloza, global head of energy analysis at the Oil Price Information Service. "Port Arthur is the jewel the Saudis would like."
Last year Port Arthur made headlines for joining a nationwide worker strike over safety concerns. The worker unrest followed an extensive five-year makeover at Port Arthur that was completed in 2012 and doubled the facility's capacity.

Saudi Aramco already owns half of the Port Arthur refinery along with Royal Dutch Shell (RDSA) through a joint venture called Motiva Enterprises. But the two oil giants have had a contentious relationship for many years. Last week they announced a letter of intent to break up Motiva.

As part of the tentative deal, Shell will gain control of two Motiva refineries in Louisiana and nine distribution terminals. Saudi Aramco would get Port Arthur as well as 26 distribution terminals and the license to the Shell brand for gasoline and diesel sales in Texas.

"It's a very expensive divorce," said Kloza, adding that the two parties weren't always on the same page.

That makes sense given the fact Shell and Aramco have different sources of oil. While the Saudis would probably prefer Port Arthur to process its own oil shipped from the Middle East, Shell is pumping tons of oil from the deep waters of the Gulf of Mexico.
The Motiva break-up could also be an early step towards Saudi Aramco's plans to go public. In January Saudi Arabia said it's considering selling shares of the state-owned oil giant.

Kloza said Motiva could be among the first assets spun off from Aramco, which controls an incredible 261 billion barrels of proven reserves in Saudi Arabia -- or roughly 15% of the world's total.

The Port Arthur deal could only add to the complex and sometimes-awkward energy relationship between the U.S. and Saudi Arabia.

On the one hand, Saudi Arabia has long been a source of oil for America. The U.S. imported 1.2 million barrels of Saudi oil per day as of the end of February, according to the U.S. Energy Information Administration. That's nearly twice as much as the year before.
But U.S. output of its own oil has nearly doubled over the past decade, creating an epic supply glut. And OPEC, led by the Saudis, has refused to cut production to prevent prices from crashing.

That's hurt the American oil industry, which is in a severe downturn.

But the Saudis have continued pumping aggressively in an effort to squeeze high-cost producers in the U.S. and elsewhere.
The Port Arthur deal will give the Saudis another avenue for their crude.

"It seems like a relatively astute move by the Saudis. It's an indication of how much they want to keep a foothold in the U.S.," said Matthew Smith, director of commodity research at ClipperData.

Rochard · 05-01-2017, 01:23 PM

America First!

Barry-xlovecam · 05-01-2017, 01:49 PM

The government of Venezuela has owned Citgo Oil for years

Fifty percent of Citgo was sold to Petróleos de Venezuela, S.A. (PDVSA) in 1986, which acquired the remainder in 1990, resulting in the current ownership structure.[5]

Venezuela just closed and nationalized the property and assets of General Motors 2 weeks ago ...

j3rkules · 05-01-2017, 01:56 PM

Best partner in crime.

directfiesta · 05-01-2017, 03:49 PM

Quote:

Originally Posted by Barry-xlovecam

The government of Venezuela has owned Citgo Oil for years

Fifty percent of Citgo was sold to Petróleos de Venezuela, S.A. (PDVSA) in 1986, which acquired the remainder in 1990, resulting in the current ownership structure.[5]

Venezuela just closed and nationalized the property and assets of General Motors 2 weeks ago ...

.. and GM is happy with that ....

They had to keep employees on payroll ( hundreds ) but had no cars to produce ....

Venezuela is in such shit ... Maduro should call elections ... He is no Chavez.

nico-t · 05-01-2017, 04:03 PM

Just a continuation of Clintons agenda. Why are you against it? Trump is now on your and your witch idol side.

So lets make a deal. You change your avatar to mine, then i'll change mine to yours.

Rochard · 05-01-2017, 05:04 PM

Quote:

Originally Posted by nico-t

Just a continuation of Clintons agenda. Why are you against it? Drumpf is now on your and your witch idol side.

So lets make a deal. You change your avatar to mine, then i'll change mine to yours.

LOL. Don't you mean this is a continuation of Bush's agenda, not Clinton's?

pimpmaster9000 · 05-01-2017, 05:18 PM

Daddy's boi reality star POTUS....

nico-t · 05-02-2017, 02:01 AM

Quote:

Originally Posted by Rochard

LOL. Don't you mean this is a continuation of Bush's agenda, not Clinton's?

Yes, Bush, Obama's and clintons agenda

05-01-2017, 12:07 PM	#1
Bladewire StraightBro Industry Role: Join Date: Aug 2003 Location: Monarch Beach, CA USA Posts: 56,232	Trump Allows Saudi Oil Deal to go Through. Saudis Now Own America's Largest Oil Refin Trump could have stopped this deal the first day he took office, evidently "Sell America First" is his real motto. How do we Make America Great Again by allowing our largest oil competitor to own & control our largest oil refinery? Where's the art of the deal? ---- Saudis to take control of largest U.S. refinery Saudi Aramco, the state oil company of OPEC's most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. The Gulf Coast facility is the largest refinery in the U.S. and can process 600,000 barrels of oil a day. Port Arthur has great strategic value, especially given the American oil boom that has eased U.S. appetite for foreign oil. Saudis to take control of largest U.S. refinery. Saudi Aramco, the state oil company of OPEC's most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. The Gulf Coast facility is the largest refinery in the U.S. and can process 600,000 barrels of oil a day. Port Arthur has great strategic value, especially given the American oil boom that has eased U.S. appetite for foreign oil. It will give the Saudis complete control over the refinery. They could then likely bring more of their own crude oil into the U.S. for refining and selling in the North American market. "Saudi Arabia would have an anchor tenant for much of their crude oil production," said Tom Kloza, global head of energy analysis at the Oil Price Information Service. "Port Arthur is the jewel the Saudis would like." Last year Port Arthur made headlines for joining a nationwide worker strike over safety concerns. The worker unrest followed an extensive five-year makeover at Port Arthur that was completed in 2012 and doubled the facility's capacity. Saudi Aramco already owns half of the Port Arthur refinery along with Royal Dutch Shell (RDSA) through a joint venture called Motiva Enterprises. But the two oil giants have had a contentious relationship for many years. Last week they announced a letter of intent to break up Motiva. As part of the tentative deal, Shell will gain control of two Motiva refineries in Louisiana and nine distribution terminals. Saudi Aramco would get Port Arthur as well as 26 distribution terminals and the license to the Shell brand for gasoline and diesel sales in Texas. "It's a very expensive divorce," said Kloza, adding that the two parties weren't always on the same page. That makes sense given the fact Shell and Aramco have different sources of oil. While the Saudis would probably prefer Port Arthur to process its own oil shipped from the Middle East, Shell is pumping tons of oil from the deep waters of the Gulf of Mexico. The Motiva break-up could also be an early step towards Saudi Aramco's plans to go public. In January Saudi Arabia said it's considering selling shares of the state-owned oil giant. Kloza said Motiva could be among the first assets spun off from Aramco, which controls an incredible 261 billion barrels of proven reserves in Saudi Arabia -- or roughly 15% of the world's total. The Port Arthur deal could only add to the complex and sometimes-awkward energy relationship between the U.S. and Saudi Arabia. On the one hand, Saudi Arabia has long been a source of oil for America. The U.S. imported 1.2 million barrels of Saudi oil per day as of the end of February, according to the U.S. Energy Information Administration. That's nearly twice as much as the year before. But U.S. output of its own oil has nearly doubled over the past decade, creating an epic supply glut. And OPEC, led by the Saudis, has refused to cut production to prevent prices from crashing. That's hurt the American oil industry, which is in a severe downturn. But the Saudis have continued pumping aggressively in an effort to squeeze high-cost producers in the U.S. and elsewhere. The Port Arthur deal will give the Saudis another avenue for their crude. "It seems like a relatively astute move by the Saudis. It's an indication of how much they want to keep a foothold in the U.S.," said Matthew Smith, director of commodity research at ClipperData.

05-01-2017, 01:23 PM	#2
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 70,243	America First! __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

05-01-2017, 01:56 PM	#4
j3rkules VIP Industry Role: Join Date: Jul 2013 Posts: 22,104	Best partner in crime. __________________ How To Build A Porn Site And Make Money \| My Best $$$ Cam Sponsor 3 Top Adult Hosting Providers

05-01-2017, 05:18 PM	#8
pimpmaster9000 Too lazy to set a custom title Industry Role: Join Date: Dec 2011 Posts: 26,732	Daddy's boi reality star POTUS.... __________________ Report a suspicious cracker: Click Here

05-01-2017, 01:49 PM	#3
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	The government of Venezuela has owned Citgo Oil for years Fifty percent of Citgo was sold to Petróleos de Venezuela, S.A. (PDVSA) in 1986, which acquired the remainder in 1990, resulting in the current ownership structure.[5] Venezuela just closed and nationalized the property and assets of General Motors 2 weeks ago ...

05-01-2017, 04:03 PM	#6
nico-t emperor of my world Join Date: Aug 2004 Location: nethalands Posts: 29,904	Just a continuation of Clintons agenda. Why are you against it? Trump is now on your and your witch idol side. So lets make a deal. You change your avatar to mine, then i'll change mine to yours.