Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi oil exports hit SR1.08 trillion in 2013  Join our daily free Newsletter

MENAFN - Arab News - 31/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi Arabia's oil exports hit 2.66 billion barrels in 2013, with proceeds amounting to SR1.08 trillion, local media said quoting an economic expert.
On the other hand, domestic consumption during the year stood at nearly 852 million barrels, or 24 percent of the total output, Fahad bin Juma'a was quoted by Al-Riyadh daily.
However, domestic consumption declined by an average of 2.3 million barrels per day (mbpd) during the period, he said.
The Kingdom's oil production stabilized at 9.65 mbpd in the last two months, which kept the level of oil exports at 7.6 mbpd at the time, he added,
The economic expert predicted that 2014 will be a good year for oil market following the growth of the US economy at the rate of 4.1 percent in the third quarter of 2013 and the expected 7.6 percent growth of the Chinese economy in the current year.
Based on estimates of the International Energy Agency (IEA), global demand will surge by 1.3 percent, or 1.2 million bpd, to reach 92.4 million bpd in 2014, and, meanwhile, OPEC (Organization of Petroleum Exporting Countries) production will be around 29.3 million bpd, or within its current production ceiling of 30 million bpd, he said.
The continued sanctions on Iran, whose oil exports stand at 850,000 barrels a day, and political instability in Libya and South Sudan will, collectively, boost oil prices where prices of Brent and West Texas jumped last week to 112 and 100 per barrel, respectively, he said.
According to the IEA data, oil production from non-OPEC countries, led by the US Canada and Brazil, will increase to 56.5 million barrels a day by 2014, he added.

 


Arab News




  MENA News Headlines
 Aug 30 2015 - Egypt- 13 smuggled medication brands confiscated from prominent Maadi pharmacyDaily News Egypt
(MENAFN - Daily News Egypt) 17 August Ministry of Health raid on a renowned pharmacy resulted in the seizure of 13 drug brands in quantities of 23 packets, according to an official statement on ...

 Aug 30 2015 - Abu Dhabi set for new hotel boomThe Arabian Post
(MENAFN - The Arabian Post) |By TAP Staff| Some 5,200 rooms are expected to be added to the Abu Dhabi hotel sector by 2017. Of this, 2,300 rooms are set to enter the market by the end of 2015 alone, ...

 Aug 30 2015 - Egypt- High-profile figures to push for Fahmy's deportation, others hope for presidential pardonDaily News Egypt
(MENAFN - Daily News Egypt) The three Al Jazeera journalists, Mohamed Fahmy, Baher Mohamed and Peter Greste, received Saturday three year prison sentences in the case also known as the 'Marriott ...

 Aug 30 2015 - 10 water stations closed, investigations ongoing in Assiut after oil leakDaily News Egypt
(MENAFN - Daily News Egypt) The Minister of Environment Khaled Fahmy, along with officials in Assiut and Beni Suef and President of the Central Administration for Environmental Crisis, Kawthar Hefni, ...

 Aug 30 2015 - Arqaam fined for money launderingThe Arabian Post
(MENAFN - The Arabian Post) The regulator of Dubai's financial free zone said on Wednesday it had fined Arqaam Capital $50,000 after investigating the Dubai-based investment bank over compliance with ...

 Aug 30 2015 - Egypt- 2 suspects killed in Fayoum amid accusations of extra-judicial killingDaily News Egypt
(MENAFN - Daily News Egypt) Two men, named as Mohamed Khames and Salem Sayed, were killed Friday morning in Fayoum as police stormed their home, while eyewitnesses claim they were unarmed.The Fayoum ...

 Aug 30 2015 - Egypt- Ministry of Interior denies hackers took down official websiteDaily News Egypt
(MENAFN - Daily News Egypt) The Ministry of Interior denied Friday evening reports that its website had been taken offline by hackers, despite the claims of a group who say they are responsible for ...

 Aug 30 2015 - Gold headed for biggest monthly drop since 2013The Arabian Post
(MENAFN - The Arabian Post) Gold fell, heading for its largest monthly decline in two years, as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006.While Fed ...

 Aug 30 2015 - Egypt- Endowments ministry partners with state TV to produce weekly segmentDaily News Egypt
(MENAFN - Daily News Egypt) The Ministry of Religious Endowments launched a religious segment on Saturday in partnership with state television that aims to counter "extremist religious ideology".In ...

 Aug 30 2015 - Turkey launches first coalition airstrikes against ISDaily News Egypt
(MENAFN - Daily News Egypt) Turkish fighter jets have hit "Islamic State" targets in Syria € for the first time as part of the US-led coalition. Turkey took on a more active role in the fight against ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help