Global oil refining capacity needs to rise to 93 million barrels per day (bpd) by 2010, according to a senior Saudi Aramco Official. He outlined the current and near-future supply-and-demand scenarios of global refining and disclosed that the global refining capacity in 2004 was placed at just under 85 million bpd. "Since world-wide crude-oil demand now stands at 86 million barrels per day, we can see how stretched the global refining system is," said Khalid G. Al-Buainain, vice president of Refining in Saudi Aramco. He shared his vision of the future of global refining at the Middle East Petroleum and Gas Conference (MPGC) held recently in Abu Dhabi. --MORE
