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FINANCIAL NEWS
Saudi could replace all of Iraq’s oil exports: Prince
08 May 2013
(MENAFN) Chairman of King Faisal Center for Research and Islamic Studies, Prince Turki Al-Faisal, said that the country has oil production capacity that “could almost instantly replace all of Iraq’s oil exports”, reported Arab News.
The Prince said that the country will remain the major supplier of energy to the world for many more decades.
It is worth mentioning that Saudi Arabia plans on increasing total production capacity to 15 million barrels per day and have an export potential of 10 million barrels per day by 2020.
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