[ad_1]
Saudi Arabia's largest oil producer posted record profits of $ 224 billion last year, before its first international bond issue, state-owned Saudi Aramco reported on Monday.
Aramco had previously been reluctant to disclose its financial position, but had to disclose it to obtain a public credit rating and start issuing international bonds.
The economics section of the Bloomberg agency reported on oil production in Saudi Arabia, describing it as "the country's secret and the kingdom's source of wealth". He pointed out that "US military planners have been discussing how to take it by force." Saudi oil was a source of endless speculation.
"The market has finally learned that the Ghawar field in Saudi Arabia (the largest conventional oil field in the world) can produce much less than anyone would think," says the IAEA report.
"When Saudi Aramco released its first profit since its nationalization on Monday for nearly 40 years, it also shed light on the secrecy surrounding its huge oil deposits," Bloomberg said in its report, revealing that "Al- Ghawar could pump 3.8 million barrels a day – well under the 5 million pumped on the market. "
"As the main orebody in Saudi Arabia, the surprisingly low production capacity of the Ghawar deposit is the highlight of the report," said Virendra Chuhan, head of consulting at Energy Impact Limited in Singapore.
[ad_2]
Source link
