Who’s who in the Saudi Arabian oil industry?
The Saudi Arabian government is seeking to expand the scope of its economic and social sectors to include oil exploration and production, according to the Saudi Gazette, an English-language Saudi newspaper.
The article indicates that the kingdom is considering a broad expansion of its oil industry beyond the already existing sectors of petroleum and petroleum products.
The article goes on to say that the government is planning to develop several new sectors in order to achieve the goal of expanding the oil and gas industry and achieve economic development and development of the economy.
In a press conference, the Saudi Deputy Prime Minister said that the Saudi government is looking at several other sectors, such as mining, industry and agriculture, to develop the country’s oil and oil and natural gas resources.
He said the kingdom has plans to expand its petroleum sector by expanding its oil fields and producing petroleum products, and said that it has invested more than US$1 trillion in oil fields.
The kingdom has about 10,000 oil and petroleum production facilities, and its industry produces nearly 40 percent of the world’s oil, according the Gazette.
The Saudi government has been working to expand economic growth and development, and has invested billions of dollars in the development of infrastructure, especially in the last decade, and is expected to continue to invest in infrastructure in the coming years, the newspaper reported.
“The Kingdom is planning and investing in the oil industry to make it more attractive for potential investment and the kingdom’s development,” Saudi Arabian Oil Minister Ali Al-Naimi was quoted as saying in the newspaper.
Saudi Arabia’s oil production was up to US$6.4 billion in 2016, and it is expected by 2020 to produce nearly US$10 billion, according the National Review, which is an English language newspaper owned by the American Heritage Foundation.
A recent survey by Bloomberg New Energy Finance found that Saudi Arabia is the world leader in oil and that the country was the third largest oil producer by volume.
This article originally appeared on Oilprice.com