Opec Plans to Build at Least 10 New Oil Refineries By 2011

Opec plans to build at least 10 new oil refineries in its member countries by 2011. This would increase the current capacities by nearly 3% and make it possible to process another 2.4 mil barrels/d worldwide. The plans apply to Saudi Arabia, Kuwait, Qatar, Venezuela and some other countries. By end 2005 Venezuela is to announce it wants to build a new refinery in Brazil.