OPEC States May Link Oil Exploration to Refineries

OPEC nations, holders of about three- fourths of world oil reserves, may link foreign investment in their most profitable drilling ventures to agreements to build refineries, the group’s president said.

By doing so, the group can revive investment in oil refining, an industry that until two years ago was overlooked because of its poor returns relative to those available from pumping crude oil, said Sheikh Ahmad Fahd al-Sabah, Kuwait’s oil minister and the current president of the 11-member Organization of Petroleum Exporting Countries.
Bloomberg