Saudi Arabia's revenue from oil and petroleum products rose 48%, says OPEC
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Tue July 17, 2012 11:10 am

Saudi Arabia’s revenue from exports of crude oil and other petroleum products jumped 48% in 2011 as shipment volumes increased over the previous year, OPEC reported.

The world’s largest crude exporter shipped oil and products valued at US$318.5 billion last year compared with US$215.4 billion in 2010, the Organization of Petroleum Exporting Countries said in its annual statistical bulletin.

Saudi exports of crude and other petroleum products rose 6.9% to an average of 8.12 million barrels a day last year, according to the data posted on OPEC’s website yesterday.

Iran, the group’s second-biggest producer after Saudi Arabia, exported crude and petroleum products valued at $114.8 billion compared with $72.2 billion in the previous year, the data showed. Iran’s revenue increased even as the volume of the nation’s shipments fell 8.5 percent, according to OPEC.

 

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 17, 2014
UAE. "Building a sound, robust investment environment is crucial for boosting institutional investor confidence in the regional markets."
date:Posted: September 17, 2014
UAE. "Prospects for economic growth in the Gulf region remain healthy for the next few years. We expect most Gulf banks to continue to benefit from robust corporate activity and consumer consumption over the next 18-24 months."
date:Posted: September 16, 2014
INTERNATIONAL. The upcoming Scottish election, whichever way it goes, demonstrates the enormous power of the desire for national self-determination. If it can corrode the British union, it can corrode anything.
UAE. "Prospects for economic growth in the Gulf region remain healthy for the next few years. We expect most Gulf banks to continue to benefit from robust corporate activity and consumer consumption over the next 18-24 months."
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