As of 31 December 2018, total reserves of 58.32 billion barrels (9.272 × 10 9 m 3) of oil equivalent including 48.25 billion barrels (7.671 × 10 9 m 3) barrels of liquid reserves have been confirmed by Saudi Aramco. Average daily extraction was 3.8 million barrels (600,000 m 3) per day.
Who owns Shell lube oil blending plant in Riyadh?
This is a joint venture between Shell Overseas Investment B.V. and Al Jomaih Holdings Company. Through its state-of-the-art lube oil blending plant in Riyadh, the company is engaged in blending, marketing, and selling Shell lubricants in Saudi Arabia.
How does Saudi Arabia plan to keep oil at the center?
The kingdom¡¯s plan for keeping oil at the center of the global economy is playing out around the world in Saudi financial and diplomatic activities, as well as in the realms of research, technology and even education.
Does Saudi Aramco have a dissonance?
The dissonance cuts to the heart of the Saudi kingdom. The government-controlled oil company, Saudi Aramco, already produces one out of every 10 of the world¡¯s barrels of oil and envisions a world where it will be selling even more.