A Saudi oil executive has challenged the idea that supplies are running out, saying that just 18 per cent of the global supply of crude has been tapped.
Saudi gas plant hit by deadly fire
At least 28 killed as blaze breaks out in pipeline following gas leak.
![More than 310,000 barrels of ethane and liquefied natural gas will go through Hawiyah by 2008 [AP]](/wp-content/uploads/2007/11/1_233454_1_5.jpeg?resize=270%2C180)
19 Nov 2007
“It appears to be an accident rather than an act of sabotage,” one diplomat said.
State oil and gas firm Aramco is undertaking projects to boost output at the natural gas liquids recovery plant in Hawiyah.
The project will provide petrochemical feedstock to the industrial cities of Jubail and Yanbu in the kingdom, the world’s largest oil exporter.
The Hawiyah programme will produce 310,000 barrels of ethane and liquefied natural gas (LNG) products by 2008.
It was not clear if the fire would delay the project.
Japan’s JGC Corp was awarded the contract for the Hawiyah’s liquefied natural gas production facilities.
Italian oil and gas company, Eni, is carrying out work related to gas treatment and compression facilities at the plant.
Source : News Agencies
Related
Yukos, once Russia’s biggest privately-owned oil company, has been declared bankrupt, opening the way for the Kremlin to further tighten its grip on the energy sector.
China’s quest for oil in the Middle East is threatening US energy and security interests in the region and increasing the risk of a conflict between both nations, analysts say.
The Saudi oil minister has said he expects oil prices, just off record highs, to hold steady for years.
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