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Qatar to Build $9.8 Billion Plants in China, Vietnam

Bloomberg -- Qatar Petroleum International, a unit of the emirate’s state-run oil company, plans to build two petrochemical plants costing about $9.8 billion in Asia by 2015 to tap demand in the world’s fastest-growing region.

Qatar will partner Cnooc Ltd. and a Chinese petrochemicals maker to construct a $5.8 billion plant in China’s Hainan province, Chief Executive Officer Nasser al-Jaidah said in an interview in Tokyo yesterday. Another project in Vietnam will cost as much as $4 billion and both ventures will use Qatari liquefied petroleum gas to produce chemicals, he said.


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Submitted Nov 19, 2009 By: ziyulu
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REPLIES (newest first)
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PetroPedro
All-Star Author Florida

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Message Posted: Nov 20, 2009 9:18:59 AM

Unlike the US where 30+ year old petro plants are crumbling and falling apart thanks to our loving tree-hugging liberals
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amerk73
Champion Author Dallas

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Message Posted: Nov 20, 2009 7:24:34 AM

QATAR HAVE MONEY AND OIL TO BUILD EVERY WERE
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Amtrgas
Champion Author Oakland

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Message Posted: Nov 20, 2009 2:27:10 AM

This is good for that region of the world. China will probably benefit the most.
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hibsaw
Champion Author Mississippi

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Message Posted: Nov 19, 2009 9:07:35 PM

Good for all parties. What about US.
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jwduke1
Champion Author Iowa

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Message Posted: Nov 19, 2009 8:02:09 PM

DellMan, you are absolutely CORRECT! But with current administration, it isn't going to happen!!!
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DellDude2
Champion Author Nashville

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Message Posted: Nov 19, 2009 7:57:07 PM

Good comments, aarrrt!
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DellMan
Champion Author Omaha

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Message Posted: Nov 19, 2009 7:52:19 PM

To think Qatar was an unknown country until they discovered one of the largest deposits of NG in the world and started tapping into it. We need to start tapping our own resources before it is too late. Electric cars are not the answer to our problems. We need to drill now and work on real alternatives.
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RobertSpratt
All-Star Author Virginia Beach

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Message Posted: Nov 19, 2009 7:48:04 PM

I guarantee that Qatar Petroleum will get most of the revenue in that deal.
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CarrottopNe
Champion Author Lincoln

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Message Posted: Nov 19, 2009 7:47:39 PM

This is just good business.
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RLH68
Champion Author Orlando

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Message Posted: Nov 19, 2009 7:35:45 PM

aarrt, probably but I hope not. We better learn how to speak Chinese.
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LilRedWagonIN
Champion Author Indiana

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Message Posted: Nov 19, 2009 7:35:10 PM

The Middle East wants to leave North America in the dust as they fall over themselves running to try to make deals with China.
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fizbos
Champion Author Maine

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Message Posted: Nov 19, 2009 7:28:48 PM

Good business for Qatar.
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aarrrt
Champion Author San Diego

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Message Posted: Nov 19, 2009 7:27:51 PM

China needs the plant and the money so they can continue to invest in the US debt. This unleashed spending in DC is following the foot prints (no not carbon) of the housing bubble burst. You can only assume so much debt before you reach the breaking point.

Will China foreclose on the US?

I pray that our representatives and senators take off those smoke stained rose colored glasses and stop this insanity.
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2granny
Champion Author Michigan

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Message Posted: Nov 19, 2009 7:26:36 PM

China can afford it they have all the money.
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pliskin
Champion Author Syracuse

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Message Posted: Nov 19, 2009 7:26:34 PM

It's not so much the restrictions as the fact that we would have to borrow the money from China to build a plant almost anywhere but here. They're our bank now !
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14of45SSR
Champion Author Saskatchewan

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Message Posted: Nov 19, 2009 7:25:52 PM

More oil on the market the better so prices drop!
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garman87
Champion Author Austin

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Message Posted: Nov 19, 2009 7:24:05 PM

We should build plants but too many restrictions due to our government.
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fasu007
Veteran Author South Carolina

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Message Posted: Nov 19, 2009 7:20:28 PM

What about climate change and China polluting?
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Insp0999
All-Star Author South Carolina

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Message Posted: Nov 19, 2009 7:18:11 PM

Are these "plants" basically refineries?
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roadkillGA
Champion Author Georgia

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Message Posted: Nov 19, 2009 7:14:40 PM

We need to be selling China oil to pay off the Obamatrillions.. but does our pres care..
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roadkillGA
Champion Author Georgia

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Message Posted: Nov 19, 2009 7:12:49 PM

WELL !!! It looks like the government red tape for building refineries will not be an issue only the proce of oil that will now soar. Way to go Congress and enviromental reghts groups that pushed for all of the crap that held up U.S production.
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bby
Champion Author Twin Cities

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Message Posted: Nov 19, 2009 7:09:12 PM

wonder how China will meet its climate targets for 2050.
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Brewernut
All-Star Author Milwaukee

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Message Posted: Nov 19, 2009 7:08:34 PM

this could have been done awhile ago there is more oil to be had its whether greed will get in the way oh wait it already has
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carlsonguitars
Champion Author Portland

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Message Posted: Nov 19, 2009 7:06:45 PM

looks like the Chinese are going to be driving cars powered by gas for some time... Qatar is going to get richer off of China, too bad we aren't going to be selling China tons of oil...... I think EVERYONE should curb the use of oil, I guess we will continue to see climate change regardless if the USA cleans up our act!!!
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SSchmidty
Champion Author Illinois

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Message Posted: Nov 19, 2009 7:03:46 PM

Who, still not any surprise ... pig-oil going for oil and refineries close to the sources to keep their costs down, NOT their profits!!!
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papagreg
Champion Author Sacramento

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Message Posted: Nov 19, 2009 6:58:30 PM

Not to mention the possible environmental challenges, greatscot08.
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greatscot08
All-Star Author Columbus

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Message Posted: Nov 19, 2009 6:56:10 PM

Our regulations in US probably wouldn't allow these plants to be built in US without so many restrictions that plants couldn't operate profitably......
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YumaKacz
Champion Author Arizona

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Message Posted: Nov 19, 2009 6:54:31 PM

The Reason we diudn't do it first is plain and simple Greed!!!!!!!!!!!!!!!!!!1
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BKool
Champion Author Michigan

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Message Posted: Nov 19, 2009 6:53:36 PM

We need new plants too!...mine have withered...
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ItisAJeepThing
Champion Author Tucson

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Message Posted: Nov 19, 2009 6:48:08 PM

This is one of the reasons to conserve oil, we will need all the oil that we can get to keep making plastics, paint and solvents to name a few places that coal won't make.
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la90042
Champion Author Los Angeles

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Message Posted: Nov 19, 2009 6:47:45 PM

more competition for shrinking crude oil - this is why we need to more toward alternative renewable sources.
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DieselCash
Veteran Author Texas

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Message Posted: Nov 19, 2009 6:46:01 PM

somebody needed to do this
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HEBster
Champion Author Kentucky

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Message Posted: Nov 19, 2009 6:42:24 PM

Great idea...why didn't we think of that???
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GGW
Veteran Author Austin

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Message Posted: Nov 19, 2009 6:37:26 PM

And we are prohibited from drilling in many areas and from building refineries. Great going Congress.
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esquared
Champion Author Oklahoma City

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Message Posted: Nov 19, 2009 6:29:03 PM

Thirsty, they are, for fossil fuels that burn more cleanly than coal which China has in profusion.
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serrog
Champion Author Nova Scotia

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Message Posted: Nov 19, 2009 6:14:25 PM

Nice
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Dipstick1
Champion Author Amarillo

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Message Posted: Nov 19, 2009 6:05:57 PM

That's where all the money is.
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revON
Champion Author Toronto

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Message Posted: Nov 19, 2009 6:01:59 PM

They can afford it.
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MRED3
Champion Author Jacksonville

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Message Posted: Nov 19, 2009 5:56:13 PM

And in American we have HOPE AND CHANGE and Obama an higher taxes for all GOD BLESS AMERICAN.
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BWD
Champion Author Charleston

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Message Posted: Nov 19, 2009 5:55:05 PM

China's going to get the bulk of foreign oil.
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Cheney
Champion Author Toronto

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Message Posted: Nov 19, 2009 5:52:02 PM

So where were the Chinese????

(oops. read a little further and see that the Chinese ARE involved, as one would expect.)

[Edited by: Cheney at 11/19/2009 5:53:26 PM EST]
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Tundralimited2009
Champion Author Dallas

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Message Posted: Nov 19, 2009 5:49:24 PM

So where were the Americans?????
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Mr.Dirt
Champion Author Albany

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Message Posted: Nov 19, 2009 5:49:23 PM

no help for us
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96sc1
Champion Author El Paso

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Message Posted: Nov 19, 2009 5:48:32 PM

Hmmm... another state-run oil company
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WCCurtis
Champion Author San Bernardino

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Message Posted: Nov 19, 2009 5:46:24 PM

An they are doing this with our oil dollars.
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Minster
Champion Author Wichita

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Message Posted: Nov 19, 2009 5:43:48 PM


they have a lot of money. good for them. hope it helps them?
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genef01
Champion Author Nashville

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Message Posted: Nov 19, 2009 5:38:28 PM

Daddybud ,

It will probably lessen the chance of the Chinese
trying to import oil from Canada, which should be
good for us and the Canadians.
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MINER
Champion Author Pittsburgh

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Message Posted: Nov 19, 2009 5:38:24 PM

I dont know anything about this business, except it must be a good idea for Qatar.
Boy these foreign countrys names will get you....
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FlyNFool
Champion Author South Carolina

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Message Posted: Nov 19, 2009 5:34:45 PM

They sell the Chicoms the oil, then they can process it themselves.
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e3p0
Champion Author Columbus

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Message Posted: Nov 19, 2009 5:33:39 PM

Good for them.
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