Asia-Pacific area shows big gains in processing
This paper reports on the Asia-Pacific region's buoyant refining and petrochemical industries that are reacting to lessons from the Persian gulf war. First-and least palatable-is the knowledge there is no alternative to oil from the Middle East to fuel headlong economic growth. Iraq's Aug. 2, 1990, invasion of Kuwait, resulting in the loss of crude oil from both countries and the flow of products from Kuwait's sophisticated refining complexes, hammered home another valuable lesson. In a crisis, the petroleum industry-oil exporting countries in particular-will in the short term find it easier to make substitute crude supplies available than to conjure up products from alternative processing capacity. The Japanese, as might be expected, are implementing new policies to take account of this lesson. Japan's tightly controlled refining sector has been told it can expand capacity for the first time in 18 years. And, with the blessing of the Japanese government, a group of companies led by Nippon Oil has agreed to a joint venture with Saudi Arabian Oil Co. that will lead to new refining capacity in Japan and a new export refinery in Saudi Arabia that is likely to be dedicated to the Japanese market.
- OSTI ID:
- 5570753
- Journal Information:
- Oil and Gas Journal; (United States), Vol. 89:34; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING
POLICY AND ECONOMY
JAPAN
PETROLEUM REFINERIES
OIL-EXPORTING COUNTRIES
GOVERNMENT POLICIES
PETROLEUM INDUSTRY
ECONOMIC DEVELOPMENT
ENERGY POLICY
FOREIGN POLICY
MALAYSIA
SINGAPORE
SUPPLY AND DEMAND
THAILAND
ASIA
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
INDUSTRIAL PLANTS
INDUSTRY
ISLANDS
020700* - Petroleum- Economics
Industrial
& Business Aspects
294002 - Energy Planning & Policy- Petroleum
290201 - Energy Planning & Policy- Economics- (1992-)