|
|
Oil Industry
 |
An offshore oil platform
in the Arabian Gulf. |
Saudi Arabia possesses a quarter of the world's proven oil reserves and is the largest exporter of oil. Recent exploration by Saudi Aramco has led to new discoveries of light crude and natural gas, increasing the country's proven reserves to 260.1 billion barrels of crude oil and 181.65 trillion cubic feet of natural gas.
To optimize revenues from oil production, Saudi Arabia has continuously expanded and upgraded existing refineries and built new ones. There are now nine refineries with a capacity of more than 1.8 million barrels per day.
Saudi Aramco is rapidly becoming a fully integrated company involved in crude oil production, domestic and international refining, as well as the shipping and marketing of both crude oil and petroleum products
.
|
