Saudi Arabia Oil And Gas News
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Introduction

  • Saudi Arabia is considered to be the world's leading petroleum country in terms of reserves, production, exports and refining capacity. The Kingdom owns one quarter of the world reserves, 13 percent of world production, more than 20 percent of petroleum sales in international markets and a refining capacity of more than 3.5 million barrels per day (MMBD).
  • Most production comes from fields in the coastal plains of the Eastern Province, an area extending 300 kilometers north and south of Dhahran
  • One of the main roles of the Kingdom and other OPEC producing nations to stabilize the oil market is maintaining a cushion of spare production capacity. Such very expensive unused production capacity is considered essential in avoiding major crises resulting from supply shortages.

News

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