Saudi Arabia wants to buy more US refineries Source: Workers

Saudi Arabia wants to buy more US refineries

Saudi Arabia is one of the most controversial, but richest countries on the planet. The country developed quickly immediately after discovering oil. Now they are providing fuel for many countries. The producers in Saudi Arabia also want to expand their business by buying more US refineries.

Why now? Well, the national oil company of Saudia Arabia, Saudi Amraco, is about to end their 20 year-old relation with Shell Oil. They were always on different sides of the table according to some officials, and no one seems unsatisfied that this relationship is about to end.

Amraco announced that the company is planning to buy more refineries in the US, and some of them released this information to other sources. They asked for confidentiality and they also said that the company did not mention if they had a certain refinery in mind or if they intend to start the searching process now.

Either way, this might be a great way to save the economy of Saudi Arabia from collapsing. Even though the country has plenty of reserves, in the last months the price of oil dropped so dramatically that the officials of the country started to be worried. In order to keep the economy in a good state they will have to make some new investments, and to try to access parts of the market that they had not considered before.

The third largest customer of Saudi Arabia is the United States, so there is no wonder that they chose this country to expand their business. The question is will Saudi Arabia be successful or will they have to search for other ways to increase their profits?

Today's Highlight

Ed Sheeran - Interview

Earn Some Additional Income Online

You might have heard many people earning money online now. This might enhance your interest and you might also want to experience the wonderful opportunity to make some extra money. This can be a source of additional income apart from your regular one. Now you might wonder how to make money online.…

Needed Liability Coverage from Insurance Company?

Intended to cover proficient professionals against cases of carelessness made by customers or patients, proficient obligation protection passes by numerous names. At the point when utilized as a part of the therapeutic calling, it is ordinarily called medicinal misbehavior scope. Legal officials…

Spending areas of wealth

At the point when a great many people think about an arrangement for spending their cash, they think about "spending plan." Anyhow, a financial plan is an arrangement for confining your spending, and that doesn't blend with a logic of living rich today. By spending your cash in a…

Online Handicraft star up earns well on the stocks market

The hand-crafted good used to be very unattractive for e-commerce. Reasons like slow production, the nature of goods and less professional producers made it difficult for manufacturers to sell it online. The online marketplace for hand-crafted good is finally here in the form of Etsy Inc. But the…

Orange County reports highest property rates

The United States property market is recovering from the horrors of financial crisis. Huge bubble in the real estate burst and destroyed entire economy back in 2008. As the wedges are increasing and unemployment rate is lowest in last few year, people are trying to buy the property. The disposable…

Ottawa Wants To Invite Chinese Students, Tourists and Workers to Canada

Canada is soon set to receive up to twice the number of the Chinese tourists, students, workers, and travelers. Currently, there are a paltry five visa offices in China, but the number is set to triple over the next couple of months. These centers will be located in Chengdu, Nanjing, Wuhan, Jinan,…