Saudi Light Crude Oil
Saudi Arabia is the world’s leading oil producer and exporter, and its location in the politically volatile Gulf region adds an element of concern for its major customers, including the United States. Saudi Arabia maintains crude oil production capacity of around 10.5-11.0 million bbl/d, and claims that it is “easily capable” of producing up to 15 million bbl/d in the future and maintaining that production level for 50 years.
Saudi Arabia contains 261.9 billion barrels of proven oil reserves (including 2.5 billion barrels in the Saudi-Kuwaiti Divided, aka “Neutral” Zone), around one-fourth of proven, conventional world oil reserves. Around two-thirds of Saudi reserves are considered “light” or “extra light” grades of oil, with the rest either “medium” or “heavy.”
Technology and Emerging Energy
We also invest in the development of emerging energy technologies, such as finding better ways to make nonfood-based biofuels, piloting advanced solar technology for our operations and expanding our renewable energy resources.
Environment and Safety
As a company and as individuals, we take great pride in contributing to the communities where we live and work.
We also care about the environment and are proud of the many ways in which our employees work to safeguard it.
Our persistent efforts to improve on our safe work environment continue to pay off. In 2013, we achieved world-class performance in the days-away-from-work metric for both Upstream and Downstream operations. ***