Aramco to Set up Oil Refinery in AP

Aramco to Set up Oil Refinery in AP

Saudi Arabia is a place, which has a giant oil sector, and recently they hinted that they are planning to set up an oil refinery in Andhra Pradesh state. If the state agrees to the proposal, then Saudi Arabia is also planning to turn the entire area of coastal Andhra Pradesh to one of its main oil centers.

Nara Chandrababu Naidu, Chief Minister of the state Andhra Pradesh recently visited Davos just to join the WEF (World Economic Forum) summit. They shared few negotiations and conversations with the president of Aramco and the CEO Amin Al-Nasser. He tried to convince them to invest in AP and sources also revealed that he got a positive response from them.

CEO Naseer was promised by chief minister Chandrababu Naidu that they would not face any kind of problem or disturbance while allocating water and land to them. Aramco, which is a national petroleum and natural gas company of Saudi Arabia, is based out of Dhahran. It has also officially declared as the Oil Company of Saudi Arabia.

 

Within a period of two weeks, high-level authorities will be sent to the place of Dhahran by Chandrababu Naidu. Speaking about the oil reserves in the area of Krishna and Godavari, the Chief Minister requested Aramco to invest in the state AP. In addition, he spoke about the project or petro-chemical university

Praising how Andhra Pradesh is gifted with rich natural resources, the Chief Minister assured Nasser that the AP government would complete the large petro-chemical corridor by the coast.

By listening to all these, Nasser told that first Aramco will work with the government of India; after few months of observation and study, they may partner with the state Andhra Pradesh to set up the oil refinery.

In the beginning of the year 2017, India is all set to gain achievements. India bags a bigger position to get the energy policies of the Middle East because day by day the demand for oil is increasing. Khalid al-Falih, Saudi Energy Minister said that the fossil fuels are in need; in the meantime, increase in the ownership of cars in both the countries India and China will raise the demand for natural resources.

Al-Falih, Saudi Aramco’s chairman informed that they are going to invest $30 to 50 billion in Saudi Arabia’s natural gas and petroleum by the year 2023 in renewable energy. He further added they also need clean gas and oil for the next generations. The reason behind this is when compared to fossil fuels biofuels create more pollution. Poor people who are using biofuels are creating more pollution to the environment.

 

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