From $6 Billion To $10 Billion, Now $12 Billion - Total SA Estimates Of Cost Of 400KB/D Refinery

[hatrack]

June 4 (Bloomberg) -- Total SA said a planned 400,000 barrel-a-day refinery in Jubail, Saudi Arabia, to be built with the country's state oil company Saudi Aramco, will cost almost $12 billion, more than previously forecast.

Chief Executive Officer Christophe de Margerie told a commission at the French National Assembly in Paris today that the investment would be ``close to $12 billion,'' higher than an estimate of ``more than $10 billion'' given last month.

``There is no official figure for the simple reason that it doesn't yet exist,'' de Margerie told journalists after a speaking to the deputies.

EDIT

He estimated at the company's annual shareholders' meeting on May 16 that the plant would cost more than $10 billion, up from an earlier forecast of $6 billion.

EDIT

http://www.bloomberg.com/apps/news?pid=20601116&sid=aTw8Za6z1jvE&refer=africa

[phantom power]

1. Receding horizons -- the gift that just keeps on giving.

[Strelnikov_]

2. They could build it for $10B in South Dakota

400 kbpd for $10B (estimated, of course).

http://www.siouxcityjournal.com/articles/2008/06/04/news/top/4e608d46402d5adb8625745e00110beb.txt

[Massacure]

3. What? But only nuclear plants are supposed to end up being bondoogles.

:eyes:

[Nihil]

4. Hush! You're using the wrong frame of reference again!

Remember: Only nuclear issues need to be perfect - everything else can
just mosey along without criticism regardless of what happens.

Next you'll be saying that everyone should play by the same rules
or even be held to the same pollution standards ... and then where
would the world be?
:shrug: