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 28, 2016
LIBYA. Libyan strategic projects set to soar after Libyan Local Investment & Development Fund (LLIDF) appoints PwC as its strategic advisor.
date:Posted: July 28, 2016
BAHRAIN. "The move will also improve investor confidence and make Bahrain an attractive place to work and live in."
date:Posted: July 28, 2016
INTERNATIONAL. "Move fast" and "Agility" have become the new business mantras, yet in a world where volatility is the new norm, thinking deeply enough and long enough will allow us to come up with something truly differentiated.
dhgate