Saudi Arabia’s Aramco Gas Tank Is Running Low - Bloomberg:
There’s one thing we all know about Saudi Arabian Oil Co.: It’s awash in hydrocarbons.
The 261.5 billion barrels of crude oil in its underground reserves would be enough to sustain current production rates until 2088, nearly four decades after the point when the world needs to cut its carbon emissions to zero to avoid devastating climate change. In one area, though, Aramco appears to be running oddly short: Gas.
Saudi Arabia has one-third of the Middle East’s oil reserves, but just 10 percent of its gas. That’s a problem, because it’s already the world’s seventh-largest consumer of the hydrocarbon, and isn’t on best terms with major external sources of supply. About 42 percent of the region’s gas reserves is controlled by arch-enemy Iran, and another 31 percent held by Qatar, which the kingdom has been blockading for nearly two years.
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