RIYADH: ¶¶Òõ¶ÌÊÓƵ is expected to announce a slight rise in its crude oil and gas reserves after being independently audited on Wednesday, according to a source familiar with the matter.
¶¶Òõ¶ÌÊÓƵ’s reserves of easily recoverable oil have long been the world’s largest.
For nearly 30 years — despite rising production, large swings in oil prices and improved technology — Riyadh has annually reported the same number for reserves at around 261 billion barrels, according to a statistical review by BP.
Saudi Energy Minister Khalid Al-Falih is due to hold a news conference in Riyadh on Wednesday to make the announcement at around 11.30 local time (0830 GMT).
He is also expected to provide further updates on the country’s energy strategy.
¶¶Òõ¶ÌÊÓƵ to announce slight rise in oil, gas reserves after audit
Updated 09 January 2019
¶¶Òõ¶ÌÊÓƵ to announce slight rise in oil, gas reserves after audit
- ¶¶Òõ¶ÌÊÓƵ’s reserves of easily recoverable oil have long been the world’s largest
- Saudi Energy Minister Khalid Al-Falih is due to hold a news conference in Riyadh on Wednesday to make the announcement at around 11.30 local time
