Most Important and Latest News of the Day
Most of the western media tends to focus on the latest developments in the Kingdom of Saudi Arabia. With such a focus, there is hardly anyone that gets the opportunity to know the most important business development and trends in the country. A large part of the coverage, in fact, is dedicated to what is happening in the financial world. But that is not all that goes on. Coverage on foreign affairs and news from other countries often get little attention as well. There is no doubt that this world is witnessing quite a lot of trade and industry exchanges happening at present.
Saudi Arabia is one of the major trading partners in the Middle East. This has led to an increased interest in the most important and latest news of the Kingdom of Saudi Arabia. Every aspect of the kingdom's development has been covered in the press and on television. The most important and latest news of the Kingdom of Saudi Arabia includes the following.
The kingdom's most important and latest news is that it plans to increase its oil output. The plan is part of the kingdom's efforts to increase its manufacturing capacity. The new plan will see the addition of another rigs in the oil-producing region of Saudi Arabia. The new fields will add about ten percent of the total production capacity in the region. The increased output will be made possible with the help of new technology, better drilling methods, and the adoption of new drilling techniques that do not damage the environment.
The second most significant development in the most important and latest news of the Kingdom of Saudi Arabia is the decision to start floating its liquefied petroleum gas plant. This is a major step towards expanding the kingdom's oil output. This new facility will take place in the Persian Gulf, which was previously used for the storage of diesel and industrial products. The floating plant will increase the amount of oil that the kingdom produces. Read More !
Another major development is the decision to allow the first offshore oil rig to come into the Kingdom of Saudi Arabia. The move was taken in response to the rising demand for oil and the need for more sources of domestic oil and gas. The new policy allows the increase of production beyond the current level.
On the other side of the oil industry, the price of gas has gone up dramatically. Many experts believe that this price hike is caused by increased competition among oil companies. The company has responded by increasing production capacity. The Kingdom's plan to allow LPG to come into the country via ships does not affect this sector much since this type of fuel is used widely in other countries.
The most important and latest news of the day is how the economy is being managed. In the past, the price of oil has been an unwanted byproduct of poor management of the economy. But since the introduction of a royal investment fund, which is being used to fund a large part of the oil projects, the focus of the economy has changed. The development of green technologies has also helped with the change in priorities. This plan has been received with both skepticism and hope by investors, since the fund is not entirely private.
Oil prices have been going down in recent months and years. Some blame the financial crisis that the world is facing. Others say that the abundance of oil makes prices drop. Regardless of the cause, the most important news today is the stability of the oil market. The markets will continue to remain open until further notice. The long term effects of the drilling and production process on the environment and the world as a whole will only be known after the process is complete and no new wells are being built.
The Source : اهم واخر اخبار المملكة العربية السعودية