OPEC nations have about two thirds of the world's proven conventional crude reserves, and one third of its production capacity.

欧佩克国家占全世界已探明原油储量的三分之二，还有着三分之一的产能。

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And Saudi Arabia, the only country with meaningful spare production capacity, had broken with the OPEC hawks, led by Iran, and pledged to supply additional crude to make up for the Libyan shortfall.

唯一拥有过剩产能的沙特阿拉伯打破了由伊朗主导的欧佩克的限制，它承诺供应额外的原油以弥补利比亚的供应不足。

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Iran is one of the world's largest crude-oil producers, but has an inadequate refining capacity that forces it to import useful petroleum products.

伊朗是世界主要原油生产国之一，但缺乏提炼设施，迫使伊朗进口汽油和其他成品油。

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But, even if China had heavy-crude refining capacity--which it doesn't--it wouldn't make economic sense to trade the four-day boat trip to Houston for a 40-day ride across the Pacific.

FORBES: Hugo's Folly

Former PDVSA executives recognized that the U.S. was their primary market, and it didn't make any sense to allow foreign investors to reap the rewards from investing in heavy-crude refining capacity.

FORBES: Hugo's Folly

The company plans to boost its production by 200, 000 barrels per day, helping it achieve its goal of raising crude oil production capacity to 550, 000 bpd in 2012, the firm said.

FORBES: Magazine Article