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Balancing Development amidst Diversification

Saudi oil reserves are the largest in the world, and Saudi Arabia is the world's leading oil producer and exporter. Oil accounts for more than 90% of the country's exports and nearly 75% of government revenues. Proven reserves are estimated to be 263 billion barrels, about one-quarter of world oil reserves.

More than 95% of all Saudi oil is produced on behalf of the Saudi Government by the parastatal giant Saudi ARAMCO.

Currently in the midst of an eighth 5-year development plan (2005-2010) Saudi Arabia is focused on economic diversification in addition to education and inclusion of women in society.

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Saudi Arabia Trade

	Wheaty Matters
	Saudi Arabia is likely to begin importing wheat by the end of the year as a result of disappointing harvest forecasts, according to reports from local traders. The news is an indication of how rapidly wheat production in the...
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	Utilising Oil and Gas
	According to a recent report, Saudi Aramco's crude oil production has reached 10.8m barrels per day. The kingdom plans to raise production further, but is also looking increasingly for gas to fuel the future. The mid-year accountability report said...
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