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Saudis Expand Price War Downstream

Green Car Congress

The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil.

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Naysayer Alert – the hydrogen red herring

My Electric Car

Hence its supply would not be cheap, renewable nor sustainable in the long term. The mandating of any system such as this would only be about looking after the interests of ‘middlemen’: oil and gas invested companies who would invariably transition into this market as both supply and/or demand for oil recede. .