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Journalism of Courage
On Saturday, Houthi rebels from Yemen carried out drone attacks on two major oil facilities in Saudi Arabia, including the world’s biggest petroleum processing facility run by state-owned Saudi Aramco. This has impacted Saudi Arabia’s oil production and exports, and in turn the global oil market.
5 mn barrels/day
260.2 bn barrels
These are the liquid reserves of Aramco, in oil equivalent, as of 2017. These reserves, Reuters said, are larger than the combined reserves of Exxon Mobil Corp, Chevron Corp, Royal Dutch Shell Plc, BP Plc and Total SA, and have an estimated reserve life of 54 years.
10.3 mn barrels/day
The quantity of crude produced by Aramco last year. Company documents cited by Reuters said this was produced at $2.8 a barrel, which the company touted as the lowest cost in the world to produce crude. Aramco also produced 1.1 million barrels of natural gas liquids and 8.9 billion standard cubic feet per day of natural gas.
5.2 mn barrels/day
Quantity of Aramco crude delivered to customers in Asia last year, Reuters said. This was almost three-quarters of Aramco’s total crude exports. The company believes demand will grow faster in Asia than elsewhere in the world – Asian buyers include China, India, South Korea, Japan and Taiwan. Its crude deliveries to North America reached more than 1 million barrels per day last year; to Europe, 864,000 barrels per day.
