http://cbs3.com/businesswire/Dominican-Saudi-OilRe_f_f_9----/resources_news_html
Saudi Arabia may build oil refinery in Dominican Republic, way to access U.S. market Tuesday March 06, 2007 By JONATHAN M. KATZ Associated Press Writer SANTO DOMINGO, Dominican Republic (AP) Saudi Arabia may build an oil refinery in the Dominican Republic in hopes of quickly expanding their access to the U.S. market, the kingdom's embassy spokesman in Washington said Tuesday. Dominican Foreign Minister Carlos Morales Troncoso discussed the proposal during an hourlong meeting with senior Saudi oil official Ibrahim Al-Mohana and executives of the Saudi Arabian Oil Co., or Saudi Aramco, in Riyadh, the Dominican foreign ministry confirmed in a statement. Saudi Aramco already has refineries in the United States, but Saudi officials see a Caribbean refinery as a means of accessing the U.S. market while avoiding the decades of environmental impact studies and other regulations needed to build a refinery in the United States, Nail Al-Jubeir, spokesman for the Saudi embassy in Washington, told The Associated Press by telephone. Building in the United States is, ``a long, tedious process and it can cost up to $100 million in expense,'' Al-Jubeir said. ``When the (Dominican Republic's) approach came it's something we seriously considered.'' Saudi Arabia holds over 260 billion barrels of proven oil reserves, a quarter of the world's total. Dominican officials hope a new refinery will end chronic fuel shortages and lower gas prices, which were $4.01 per gallon on Tuesday, in the nation of nine million. They also hope to export the refined fuel to nearby countries, including the United States. The Dominican Republic has been trying to boost relations with Middle Eastern and energy-producing countries. President Leonel Fernandez hosted the Saudi ambassador to the United States for an official lunch at the national palace in November. +++ ------------------------ Yahoo! Groups Sponsor --------------------~--> Yahoo! Groups gets a make over. See the new email design. http://us.click.yahoo.com/hOt0.A/lOaOAA/yQLSAA/TySplB/TM --------------------------------------------------------------------~-> -------------------------- Want to discuss this topic? Head on over to our discussion list, [EMAIL PROTECTED] -------------------------- Brooks Isoldi, editor [EMAIL PROTECTED] http://www.intellnet.org Post message: [email protected] Subscribe: [EMAIL PROTECTED] Unsubscribe: [EMAIL PROTECTED] *** FAIR USE NOTICE. This message contains copyrighted material whose use has not been specifically authorized by the copyright owner. OSINT, as a part of The Intelligence Network, is making it available without profit to OSINT YahooGroups members who have expressed a prior interest in receiving the included information in their efforts to advance the understanding of intelligence and law enforcement organizations, their activities, methods, techniques, human rights, civil liberties, social justice and other intelligence related issues, for non-profit research and educational purposes only. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/osint/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/osint/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
