year when we bring the Khurais mega-project of 1.2 million barrels per day on stream, which is significantly higher than our stated policy. Maintaining our spare capacity requires considerable investment, but over the years the value of that cushion has been proven in the face of unforeseen supply disruptions, and it has helped to counter market volatility. We will also continue to expand refining capacity in Saudi Arabia and in key markets around the world. We are continuing to invest now to help ensure an uninterrupted supply of energy when the global economy recovers. Our commitment to energy stability extends beyond our ongoing upstream and downstream investments. We believe it is also essential to invest in knowledge and in our human capital. We therefore are growing the Kingdom's capacity to conduct research and development on technologies that will help ensure a cleaner, more sustainable energy future. We are building new scientific institutions to advance our knowledge of energy and the environment and training the scientists and technicians of tomorrow. These institutions include the King Abdullah University for Science and Technology, known as KAUST, which will open September 5th of this year, and the King Abdullah Petroleum Studies and Research Center. --MORE
