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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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PetroPedro All-Star Author Florida Posts:634 Points:136,185 Joined:May 2007	Message Posted: Nov 20, 2009 9:18:59 AM Ignore PetroPedro Report Abuse Unlike the US where 30+ year old petro plants are crumbling and falling apart thanks to our loving tree-hugging liberals
amerk73 Champion Author Dallas Posts:2,109 Points:640,835 Joined:Oct 2008	Message Posted: Nov 20, 2009 7:24:34 AM Ignore amerk73 Report Abuse QATAR HAVE MONEY AND OIL TO BUILD EVERY WERE
Amtrgas Champion Author Oakland Posts:2,134 Points:781,660 Joined:Dec 2007	Message Posted: Nov 20, 2009 2:27:10 AM Ignore Amtrgas Report Abuse This is good for that region of the world. China will probably benefit the most.
hibsaw Champion Author Mississippi Posts:3,103 Points:714,050 Joined:Feb 2008	Message Posted: Nov 19, 2009 9:07:35 PM Ignore hibsaw Report Abuse Good for all parties. What about US.
jwduke1 Champion Author Iowa Posts:11,300 Points:2,216,410 Joined:Apr 2004	Message Posted: Nov 19, 2009 8:02:09 PM Ignore jwduke1 Report Abuse DellMan, you are absolutely CORRECT! But with current administration, it isn't going to happen!!!
DellDude2 Champion Author Nashville Posts:3,971 Points:1,147,650 Joined:Aug 2005	Message Posted: Nov 19, 2009 7:57:07 PM Ignore DellDude2 Report Abuse Good comments, aarrrt!
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Nov 19, 2009 7:52:19 PM Ignore DellMan Report Abuse 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.
RobertSpratt All-Star Author Virginia Beach Posts:792 Points:234,245 Joined:Jul 2007	Message Posted: Nov 19, 2009 7:48:04 PM Ignore RobertSpratt Report Abuse I guarantee that Qatar Petroleum will get most of the revenue in that deal.
CarrottopNe Champion Author Lincoln Posts:1,025 Points:367,365 Joined:Jan 2009	Message Posted: Nov 19, 2009 7:47:39 PM Ignore CarrottopNe Report Abuse This is just good business.
RLH68 Champion Author Orlando Posts:3,961 Points:732,000 Joined:Jun 2007	Message Posted: Nov 19, 2009 7:35:45 PM Ignore RLH68 Report Abuse aarrt, probably but I hope not. We better learn how to speak Chinese.
LilRedWagonIN Champion Author Indiana Posts:2,803 Points:601,855 Joined:Oct 2008	Message Posted: Nov 19, 2009 7:35:10 PM Ignore LilRedWagonIN Report Abuse The Middle East wants to leave North America in the dust as they fall over themselves running to try to make deals with China.
fizbos Champion Author Maine Posts:2,092 Points:1,037,660 Joined:May 2006	Message Posted: Nov 19, 2009 7:28:48 PM Ignore fizbos Report Abuse Good business for Qatar.
aarrrt Champion Author San Diego Posts:2,980 Points:712,275 Joined:May 2008	Message Posted: Nov 19, 2009 7:27:51 PM Ignore aarrrt Report Abuse 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.
2granny Champion Author Michigan Posts:4,212 Points:483,075 Joined:Apr 2009	Message Posted: Nov 19, 2009 7:26:36 PM Ignore 2granny Report Abuse China can afford it they have all the money.
pliskin Champion Author Syracuse Posts:3,190 Points:974,425 Joined:Apr 2005	Message Posted: Nov 19, 2009 7:26:34 PM Ignore pliskin Report Abuse 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 !
14of45SSR Champion Author Saskatchewan Posts:2,102 Points:469,980 Joined:Dec 2008	Message Posted: Nov 19, 2009 7:25:52 PM Ignore 14of45SSR Report Abuse More oil on the market the better so prices drop!
garman87 Champion Author Austin Posts:1,270 Points:1,507,050 Joined:Aug 2005	Message Posted: Nov 19, 2009 7:24:05 PM Ignore garman87 Report Abuse We should build plants but too many restrictions due to our government.
fasu007 Veteran Author South Carolina Posts:451 Points:688,575 Joined:Jun 2008	Message Posted: Nov 19, 2009 7:20:28 PM Ignore fasu007 Report Abuse What about climate change and China polluting?
Insp0999 All-Star Author South Carolina Posts:707 Points:266,160 Joined:Sep 2008	Message Posted: Nov 19, 2009 7:18:11 PM Ignore Insp0999 Report Abuse Are these "plants" basically refineries?
roadkillGA Champion Author Georgia Posts:3,382 Points:485,950 Joined:Jun 2008	Message Posted: Nov 19, 2009 7:14:40 PM Ignore roadkillGA Report Abuse We need to be selling China oil to pay off the Obamatrillions.. but does our pres care..
roadkillGA Champion Author Georgia Posts:3,382 Points:485,950 Joined:Jun 2008	Message Posted: Nov 19, 2009 7:12:49 PM Ignore roadkillGA Report Abuse 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.
bby Champion Author Twin Cities Posts:1,779 Points:244,620 Joined:Nov 2009	Message Posted: Nov 19, 2009 7:09:12 PM Ignore bby Report Abuse wonder how China will meet its climate targets for 2050.
Brewernut All-Star Author Milwaukee Posts:854 Points:320,330 Joined:Oct 2008	Message Posted: Nov 19, 2009 7:08:34 PM Ignore Brewernut Report Abuse 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
carlsonguitars Champion Author Portland Posts:4,205 Points:696,095 Joined:Jan 2008	Message Posted: Nov 19, 2009 7:06:45 PM Ignore carlsonguitars Report Abuse 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!!!
SSchmidty Champion Author Illinois Posts:4,311 Points:815,365 Joined:Mar 2008	Message Posted: Nov 19, 2009 7:03:46 PM Ignore SSchmidty Report Abuse Who, still not any surprise ... pig-oil going for oil and refineries close to the sources to keep their costs down, NOT their profits!!!
papagreg Champion Author Sacramento Posts:1,527 Points:512,700 Joined:Jan 2008	Message Posted: Nov 19, 2009 6:58:30 PM Ignore papagreg Report Abuse Not to mention the possible environmental challenges, greatscot08.
greatscot08 All-Star Author Columbus Posts:944 Points:187,460 Joined:Jun 2008	Message Posted: Nov 19, 2009 6:56:10 PM Ignore greatscot08 Report Abuse 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......
YumaKacz Champion Author Arizona Posts:1,743 Points:661,420 Joined:Jul 2008	Message Posted: Nov 19, 2009 6:54:31 PM Ignore YumaKacz Report Abuse The Reason we diudn't do it first is plain and simple Greed!!!!!!!!!!!!!!!!!!1
BKool Champion Author Michigan Posts:2,993 Points:1,433,970 Joined:Aug 2005	Message Posted: Nov 19, 2009 6:53:36 PM Ignore BKool Report Abuse We need new plants too!...mine have withered...
ItisAJeepThing Champion Author Tucson Posts:11,121 Points:1,170,180 Joined:Oct 2006	Message Posted: Nov 19, 2009 6:48:08 PM Ignore ItisAJeepThing Report Abuse 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.
la90042 Champion Author Los Angeles Posts:2,402 Points:505,405 Joined:Nov 2008	Message Posted: Nov 19, 2009 6:47:45 PM Ignore la90042 Report Abuse more competition for shrinking crude oil - this is why we need to more toward alternative renewable sources.
DieselCash Veteran Author Texas Posts:425 Points:73,855 Joined:Sep 2009	Message Posted: Nov 19, 2009 6:46:01 PM Ignore DieselCash Report Abuse somebody needed to do this
HEBster Champion Author Kentucky Posts:3,918 Points:1,405,435 Joined:May 2006	Message Posted: Nov 19, 2009 6:42:24 PM Ignore HEBster Report Abuse Great idea...why didn't we think of that???
GGW Veteran Author Austin Posts:329 Points:582,155 Joined:Dec 2005	Message Posted: Nov 19, 2009 6:37:26 PM Ignore GGW Report Abuse And we are prohibited from drilling in many areas and from building refineries. Great going Congress.
esquared Champion Author Oklahoma City Posts:3,922 Points:1,140,955 Joined:Jan 2006	Message Posted: Nov 19, 2009 6:29:03 PM Ignore esquared Report Abuse Thirsty, they are, for fossil fuels that burn more cleanly than coal which China has in profusion.
serrog Champion Author Nova Scotia Posts:1,918 Points:618,230 Joined:Oct 2008	Message Posted: Nov 19, 2009 6:14:25 PM Ignore serrog Report Abuse Nice
Dipstick1 Champion Author Amarillo Posts:5,105 Points:1,470,865 Joined:Jan 2006	Message Posted: Nov 19, 2009 6:05:57 PM Ignore Dipstick1 Report Abuse That's where all the money is.
revON Champion Author Toronto Posts:1,219 Points:643,900 Joined:Dec 2007	Message Posted: Nov 19, 2009 6:01:59 PM Ignore revON Report Abuse They can afford it.
MRED3 Champion Author Jacksonville Posts:2,235 Points:437,295 Joined:May 2009	Message Posted: Nov 19, 2009 5:56:13 PM Ignore MRED3 Report Abuse And in American we have HOPE AND CHANGE and Obama an higher taxes for all GOD BLESS AMERICAN.
BWD Champion Author Charleston Posts:2,392 Points:1,613,885 Joined:May 2004	Message Posted: Nov 19, 2009 5:55:05 PM Ignore BWD Report Abuse China's going to get the bulk of foreign oil.
Cheney Champion Author Toronto Posts:1,075 Points:1,726,890 Joined:May 2004	Message Posted: Nov 19, 2009 5:52:02 PM Ignore Cheney Report Abuse 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]
Tundralimited2009 Champion Author Dallas Posts:2,552 Points:513,525 Joined:Feb 2009	Message Posted: Nov 19, 2009 5:49:24 PM Ignore Tundralimited2009 Report Abuse So where were the Americans?????
Mr.Dirt Champion Author Albany Posts:4,970 Points:1,781,955 Joined:Mar 2004	Message Posted: Nov 19, 2009 5:49:23 PM Ignore Mr.Dirt Report Abuse no help for us
96sc1 Champion Author El Paso Posts:5,542 Points:725,765 Joined:Mar 2008	Message Posted: Nov 19, 2009 5:48:32 PM Ignore 96sc1 Report Abuse Hmmm... another state-run oil company
WCCurtis Champion Author San Bernardino Posts:2,985 Points:915,465 Joined:Oct 2005	Message Posted: Nov 19, 2009 5:46:24 PM Ignore WCCurtis Report Abuse An they are doing this with our oil dollars.
Minster Champion Author Wichita Posts:2,236 Points:779,790 Joined:Oct 2007	Message Posted: Nov 19, 2009 5:43:48 PM Ignore Minster Report Abuse they have a lot of money. good for them. hope it helps them?
genef01 Champion Author Nashville Posts:2,153 Points:697,365 Joined:Jul 2008	Message Posted: Nov 19, 2009 5:38:28 PM Ignore genef01 Report Abuse 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.
MINER Champion Author Pittsburgh Posts:8,426 Points:2,468,370 Joined:Jul 2002	Message Posted: Nov 19, 2009 5:38:24 PM Ignore MINER Report Abuse I dont know anything about this business, except it must be a good idea for Qatar. Boy these foreign countrys names will get you....
FlyNFool Champion Author South Carolina Posts:3,551 Points:718,320 Joined:Aug 2008	Message Posted: Nov 19, 2009 5:34:45 PM Ignore FlyNFool Report Abuse They sell the Chicoms the oil, then they can process it themselves.
e3p0 Champion Author Columbus Posts:2,179 Points:583,090 Joined:Mar 2006	Message Posted: Nov 19, 2009 5:33:39 PM Ignore e3p0 Report Abuse Good for them.