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As of 2012 petrol in Saudi Arabia was sold at a price cheaper than bottled water—approximately US$0.13 per litre ($0.50 per US gallon). [16] According to Jim Krane, "Saudi Arabia now consumes more oil than Germany, an industrialized country with triple the population and an economy nearly five times as large."
Saudi Aramco: Dhahran 329.8 88.2 398.3 1,900 Oil and gas: 212 Saudi Basic Industries: Riyadh 37.3 1.5 83.4 59.8 Chemicals: 315 Saudi Telecom Company: Riyadh 14.6 2.9 32.1 48.3 Telecommunications: 396 Saudi National Bank: Riyadh 6.8 3.1 135.2 29.6 Banking: 473 Al-Rajhi Bank: Riyadh 5.3 2.8 102.4 38.1 Banking: 590 Saudi Electricity Company ...
A CNN report about the security of oil in Saudi Arabia (much of it is about Saudi Aramco's security) Saudi Arabia's crude oil production chart (1980–2004) (data sourced from the U.S. Department of Energy) CBS 60 Minutes (2008-12-07) "The Oil Kingdom: Part One" CBS 60 Minutes (2008-12-07) "The Oil Kingdom: Part Two"
Saudi Aramco (officially the Saudi Arabian Oil Co.) is Saudi Arabia's national oil, petroleum, and natural gas company headquartered in Dhahran. [ 172 ] [ 173 ] [ 174 ] Saudi Aramco was listed for public trading on 10 December 2019 and had a valuation as of US$2 trillion as of 12 December 2019.
The September 2001 Al Qaeda attacks on the US and the March 2003 US invasion of Iraq had even milder short-term impacts on oil prices, as Saudi Arabia and other exporters again cooperated to keep the world adequately supplied. [97] In the 1990s, OPEC lost its two newest members, who had joined in the mid-1970s.
The Group considered an initial public offering in 2011, but declined to do so due to a combination of low oil prices, a weak stock market, and bureaucratic obstacles. [ 3 ] In April 2018, Bakr bin Laden , as well as his brothers Saleh and Saad, transferred their 36.2% stake in the Saudi Binladin Group to the Istidama Holding Company, which is ...
Agricultural fields in the Wadi As-Sirhan Basin of Saudi Arabia as seen from the International Space Station in 2012. Agriculture in Saudi Arabia is focused on the export of dates, dairy products, eggs, fish, poultry, fruits, vegetables, and flowers to markets around the world after achieving self-sufficiency in the production of such products. [1]
Finally, in the early 20th century, 'Abdulaziz ibn Saud, known in the west simply as Ibn Saud, retrieved his ancestral kingdom of Najd in 1902 and consolidated his rule by 1926 with the final Saudi conquest of Hejaz, [11] subsequently naming his kingdom 'Saudi Arabia' in September 1932 [11] with Riyadh as the capital. [12]