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: July 26, 2016
INTERNATIONAL. For leaders who seek to create lasting peace, there is a solution known in military circles as Invincible Defense Technology (IDT); It comes from the fields of social sciences and quantum unified field theory.
date:Posted: July 26, 2016
UAE. KPMG survey reveals that companies who want to keep in front of change and secure competitive advantage are transforming themselves into fully integrated omni businesses.
date:Posted: July 26, 2016
UAE. New report from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the World Bank Group seeks to unlock private sector potential by addressing constraints.
dhgate