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
 Jul 6 2015 - Dubai-based health care group to rebuild 500 houses in NepalKhaleej Times
(MENAFN - Khaleej Times) The charitable arm of one of the leading health care groups in the UAE, Aster DM Foundation, has donated Dh1.4million to rebuild 500 houses in the quake-hit Nepal.Dr Azad ...

 Jul 6 2015 - UAE's electoral base for FNC polls gets 66% widerKhaleej Times
(MENAFN - Khaleej Times) The National Election Committee (NEC) during its 12th meeting, held in Abu Dhabi on Sunday, has adopted the electoral college for the Federal National Council (FNC) Elections ...

 Jul 6 2015 - UAE- Three face attempted murder charges over road rage, sword attackKhaleej Times
(MENAFN - Khaleej Times) Three Emiratis stood trial in a Dubai court over an alleged case of road rage that ended in a sword attack.Two jobless men, and an accomplice who is still at large, faced ...

 Jul 6 2015 - UAE- Dana Gas at 7-month high after Kurdish ruling boostKhaleej Times
(MENAFN - Khaleej Times) Dana Gas shares jumped on Sunday to the highest level in seven months following a favourable court ruling in an arbitration case in London.The Abu Dhabi-listed firm's stock ...

 Jul 6 2015 - Tourism Authority of Thailand launches mobile app for Muslim visitorsKhaleej Times
(MENAFN - Khaleej Times) The Tourism Authority of Thailand, or TAT, has launched its first smartphone application designed specifically to make it easier for the growing number of Muslim visitors to ...

 Jul 6 2015 - UAE- Cityscape Global sees 30 per cent growth in exhibition spaceKhaleej Times
(MENAFN - Khaleej Times) The continued confidence in Dubai's maturing real estate market has been underlined by a 30 per cent increase in exhibitors at the Middle East's largest property showcase, ...

 Jul 6 2015 - GCC mobile market to grow 29% by 2019Khaleej Times
(MENAFN - Khaleej Times) Dubai: The GCC's mobile connected devices market is expected to increase by around 29 per cent to 45 million units by 2019 compared to 35 million units in 2015, according to ...

 Jul 6 2015 - UAE non-oil private sector activity growth eases in JuneKhaleej Times
(MENAFN - Khaleej Times) Non-oil private sector business activity growth in the UAE slowed to almost a two-year low in June on the back of slower output expansion and weaker growth in new orders, ...

 Jul 6 2015 - Mohammed bin Zayed's resolution offers regulation of farmsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive ...

 Jul 6 2015 - Emirates Foundation reaches out to young offenders across the UAE during RamadanEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Emirates Foundation's volunteering programme, Takatof, has helped rehabilitate former young offenders back into society through a range of social and sporting ...

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