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Oil Reserves In Saudi Arabia
The proven oil reserves in Saudi Arabia are reportedly the second largest in the world, estimated in 2017 to be 268 billion barrels (4.3×10^10 m3) (Gbbl hereafter), including 2.5 Gbbl in the Saudi–Kuwaiti neutral zone. This would correspond to more than 50 years of production at current rates. In the oil industry, an oil barrel is defined as 42 US gallons, which is about litres, or 35 imperial gallons. The oil reserves are predominantly found in the Eastern Province. These reserves were apparently the largest in the world until Venezuela announced they had increased their proven reserves to 297 Gbbl in January 2011.Venezuela: Oil reserves surpasses Saudi Arabia's at english.ahram.org.eg Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venezuela Oil Reserves
Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and many Federal Dependencies of Venezuela, islands and islets in the Caribbean Sea. It comprises an area of , and its population was estimated at 29 million in 2022. The capital and largest urban agglomeration is the city of Caracas. The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean, on the west by Colombia, Brazil on the south, Trinidad and Tobago to the north-east and on the east by Guyana. Venezuela is a presidential republic consisting of States of Venezuela, 23 states, the Venezuelan Capital District, Capital District and Federal Dependencies of Venezuela, federal dependencies covering Venezuela's offshore islands. Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north and in the capital. The territory o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Public Offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum In Saudi Arabia
Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refined crude oil. Petroleum is a fossil fuel formed over millions of years from anaerobic decay of organic materials from buried prehistoric organisms, particularly planktons and algae, and 70% of the world's oil deposits were formed during the Mesozoic. Conventional reserves of petroleum are primarily recovered by drilling, which is done after a study of the relevant structural geology, analysis of the sedimentary basin, and characterization of the petroleum reservoir. There are also unconventional reserves such as oil sands and oil shale which are recovered by other means such as fracking. Once extracted, oil is refined and separated, most easily by distillation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy In Saudi Arabia
Energy in Saudi Arabia involves petroleum and natural gas production, consumption, and exports, and electricity production. Saudi Arabia is the world's leading oil producer and exporter. Saudi Arabia's economy is petroleum-based; oil accounts for 90% of the country's exports and nearly 75% of government revenue. The oil industry produces about 45% of Saudi Arabia's gross domestic product, against 40% from the private sector. Saudi Arabia has per capita GDP of $20,700. The economy is still very dependent on oil despite diversification, in particular in the petrochemical sector. For many years the Kingdom of Saudi Arabia has been the world's largest petroleum producer and exporter. In 2011 it pumped about per day of petroleum. While most of this is exported, domestic use is rapidly increasing, primarily for electricity production. Saudi Arabia also has the largest, or one of the largest, proven crude oil reserves (i.e. oil that is economically recoverable) in the world (18% of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Oil Industry In Saudi Arabia
Saudi Arabian petroleum, oil was first discovered by the Americans and British in commercial quantities at Dammam Dammam No. 7, oil well No. 7 in 1938 in what is now modern day Dhahran. Background On January 15, 1902, Ibn Saud took Riyadh from the Rashid tribe. In 1913, his forces captured the province of Al-Ahsa Oasis, al-Hasa from the Ottoman Turks. In 1922, he completed his conquest of the Nejd, and in 1925, he conquered the Hijaz. In 1932, the Kingdom of Saudi Arabia was proclaimed with Ibn Saud as king. Without stability in the region, the search for oil would have been difficult, as evidenced by early oil exploration in neighbouring countries such as Yemen and Oman. Prior to 1938, there were three main factors that triggered the search for oil in Arabia: * The discovery of oil by the Anglo-Persian Oil Company at Masjid-i-Sulaiman in the mountains of north-western Persia in 1908; but the consensus of geological opinion at the time was that there was no oil on the Arabian pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Twilight In The Desert
''Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy'' is a book by American investment banker Matthew Simmons. The text was initially published on June 10, 2005 by John Wiley & Sons. The book focuses on the petroleum industry of Saudi Arabia and posits that this country is approaching—or already at—its peak oil output and cannot substantially increase its oil production. Overview —Review on theoildrum.com Simmons–Tierny bet Simmons' prediction of rising oil prices made in ''Twilight in the Desert'' led to a bet with ''New York Times'' columnist John Tierney in August 2005. The two men bet US$10,000 on whether the daily price-per-barrel of crude oil averaged over the 2010 calendar year would exceed $200 when adjusted for inflation, with Simmons to win the bet if it did, or Tierney if it did not. The average price for a barrel of oil in 2010 turned out to be $80 ($71 in 2005 dollars, only slightly higher than the $65 barrel price when the bet was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DeGolyer And MacNaughton
DeGolyer and MacNaughton is a petroleum consulting company based in Dallas, Texas, with offices in Houston, Buenos Aires, and Algiers. DeGolyer and MacNaughton was founded in 1936 by Everette Lee DeGolyer and Lewis MacNaughton. DeGolyer had formerly known McNaughton through their work with the petroleum exploration company Amerada. While serving as President, DeGolyer hired McNaughton to work for Amerada in 1928. Company founding and early years In the 1930s bankers began offering essential long-term loans to prospective oil companies only after they had secured the unknown, subterranean collateral of the oil reserves at a particular site, which required the banks to rely on the integrity, competence, honesty, and experience of those individual assessing the value of the reserves. New financing methods were required which created a need for reliable and fully independent studies and evaluations of reservoirs. DeGolyer and McNaughton was established to meet these needs. On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Khalid A
Khalid (variants include Khaled and Kalid; Arabic: خالد) is a popular Arabic male given name meaning "eternal, everlasting, immortal". It also appears as a surname. Behind the Name; accessed February 2016 Notable persons Politics and military * (died 642), Arab military commander in the service of the Rashidun Caliphate * |
Riyadh
Riyadh is the capital and largest city of Saudi Arabia. It is also the capital of the Riyadh Province and the centre of the Riyadh Governorate. Located on the eastern bank of Wadi Hanifa, the current form of the metropolis largely emerged in the 1950s as an offshoot of the 18th century Walled town of Riyadh, walled town following the dismantling of its Riyadh city fortifications, defensive fortifications. It is the List of Arabian cities by population, largest city on the Arabian Peninsula, and is situated in the center of the An Nafud, an-Nafud desert, on the eastern part of the Najd plateau. The city sits at an average of above sea level, and receives around 5 million Tourism in Saudi Arabia, tourists each year, making it the List of cities by international visitors, forty-ninth most visited city in the world and the 6th in the Middle East. Riyadh had a population of 7.0 million people in 2022, making it the List of cities in Saudi Arabia, most-populous city in Saudi Arabia, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Diplomatic Cables Leak
An incident, commonly referred to as Cablegate, began on 28 November 2010 when WikiLeaks began releasing classified cables that had been sent to the U.S. State Department by 274 of its consulates, embassies, and diplomatic missions around the world. Dated between December 1966 and February 2010, the cables contain diplomatic analysis from world leaders, and the diplomats' assessment of host countries and their officials. On 30 July 2013, Chelsea Manning was convicted for theft of the cables and violations of the Espionage Act in a court martial proceeding and sentenced to thirty-five years imprisonment. She was released on 17 May 2017, after seven years total confinement, after her sentence had been commuted by President Barack Obama earlier that year. Sequence of leaks The first document, the so-called Reykjavik 13 cable, was released by WikiLeaks on 18 February 2010, and was followed by the release of State Department profiles of Icelandic politicians a month later. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diplomatic Cable
A diplomatic cable, also known as a diplomatic telegram (DipTel) or embassy cable, is a confidential text-based message exchanged between a diplomatic mission, like an embassy or a consulate, and the foreign ministry of its parent country.Definition of "cable", A diplomatic cable is a type of dispatch. Other dispatches may be sent as physical documents in a diplomatic bag. The term ''cable'' derives from the time when the medium for such communications was telegraphs travelling along international submarine communications cables, though over time they have progressed into other formats and pathways. The term '' cablegram'' is also sometimes used. Due to the importance and sensitive nature of the subject matter, diplomatic cables are protected by the most elaborate security precautions to prevent unfettered access by the public or unauthorized interception by foreign governments. Generally digital in format, they are always encrypted, frequently by unbreakable one time pad c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Society Of Petroleum Engineers
The Society of Petroleum Engineers (SPE) is a 501(c)(3) not-for-profit professional organization. SPE provides a worldwide forum for oil and natural gas exploration and production (E&P) professionals to exchange technical knowledge and best practices. SPE manages OnePetro and PetroWiki, in addition to publishing magazines, peer-reviewed journals, and books. SPE also hosts more than 100 events each year across the globe as well as providing online tools and in-person training opportunities. SPE's technical library (OnePetro) contains more than 314,000 technical papers—products of SPE conferences and periodicals, made available to the entire industry. SPE has offices in Dallas, Houston, Calgary, Dubai and Kuala Lumpur. SPE is a professional association for more than 127,000 engineers, scientists, managers, and educator A teacher, also called a schoolteacher or formally an educator, is a person who helps students to acquire knowledge, competence, or virtue, via the pract ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
