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Safco is the first petrochemical company in Saudi Arabia. It was established in 1965. SAFCO is one of the largest producers of chemicals in the world [4] with an annual production capacity of over 4.9 million tons of fertilizers. SABIC owns 42.99% with 57.01% being held by the private sector and the public. [5]
Location of Saudi Arabia. Saudi Arabia is a sovereign Arab state in Western Asia constituting the bulk of the Arabian Peninsula. The country's command economy is petroleum-based but slowly diversifying; in 2017 58% of budget revenues and 85% of export earnings came from the oil industry.
Saudi Aramco (officially the Saudi Arabian Oil Co.) is Saudi Arabia's national oil, petroleum, and natural gas company headquartered in Dhahran. [ 169 ] [ 170 ] [ 171 ] Saudi Aramco was listed for public trading on 10 December 2019 and had a valuation as of US$2 trillion as of 12 December 2019.
As of 2012 petrol in Saudi Arabia was sold at a price cheaper than bottled water—approximately US$0.13 per litre ($0.50 per US gallon). [16] According to Jim Krane, "Saudi Arabia now consumes more oil than Germany, an industrialized country with triple the population and an economy nearly five times as large."
Agricultural fields in the Wadi As-Sirhan Basin of Saudi Arabia as seen from the International Space Station in 2012. Agriculture in Saudi Arabia is focused on the export of dates, dairy products, eggs, fish, poultry, fruits, vegetables, and flowers to markets around the world after achieving self-sufficiency in the production of such products. [1]
Almarai was the first dairy farm in Saudi Arabia to be accredited with ISO 22000. [22] Almarai also received the ISO 9001:2000 across all its operating divisions (farming, procurement, processing, technical research and development, distribution and supply chain).
Solar power in Saudi Arabia has become more important to the country as oil prices have risen. Saudi Arabia is located in the Arabian Peninsula, where it receives 12 hours of sun a day. [ 1 ] Saudi Arabia has the potential to supply its electrical needs solely with solar power. [ 2 ]
Reported proven reserves for Saudi Arabia (blue) and Venezuela (red) 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 m 3) (Gbbl hereafter), including 2.5 Gbbl in the Saudi–Kuwaiti neutral zone. This would correspond to more than 50 years of ...