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From Staff Reports

Royal Dutch Shell PLC (RDS.A RDS.B) and Saudi Arabia’s Saudi Aramco have announced the $7 billion expansion of a refinery in Port Arthur, Tex., which will make it the largest facility in the United States, according to Forbes.com.

The refinery’s output will be beefed up from 275,000 barrels of crude per day all the way up to 600,000 barrels. The project is scheduled for completion by 2010. It will cost an estimated $7 billion, which is more than double last year’s estimate.

The two oil giants will share the cost as part of their joint venture, Motiva, headquartered in Houston. Motiva operates two other refineries in Louisiana. The company supplies approximately 7,700 Shell-branded retail outlets in the Gulf and East Coast regions.

Jim Rogers: China’s Expansion Depends on Water

Oil isn’t China’s most precious resource. China must spend $162 billion in the next five years to clean up its polluted rivers-as nearly 40% of them are undrinkable. "China has a huge water problem," Legendary investor Jim Rogers says. "…If they don’t solve it, or if they don’t solve it in time, then China has failed." Find out which six global water treatment powerhouses are set to make “liquid profits.”

This entry was posted on Tuesday, September 25th, 2007 at 3:31 pm and is filed under Crude, Oil, Saudi Arabia, Top News. You can follow any responses to this entry through the RSS 2.0 feed. Due to the amount of comments we receive Money Morning will not be able to respond to all questions. If you have not already registered to leave a comment, once doing so you will receive Money Morning's Daily Email. Responses are currently closed, but you can trackback from your own site.