Riyadh - Saudi Arabia is planning to invest 80 billion dollars to increase its oil output to 12.5 million barrels per day and boost its refining capacity by 43 per cent in the next few years, accor
New York - Saudi Arabia is planning to make a five per cent increase in crude oil production next month, according to a report by the New York Times Saturday.
Riyadh - Saudi King Abdullah bin Abdul-Aziz launched Wednesday a number of investment projects with total value of 130 billion Saudi Rials (34.5 billion dollars), including the building of one of the largest ports in the world.
The port is to be built in King Abdullah Economic City in Rabigh, the multi-billion dollar project launched in 2005. The project, spread over 168 million square meters, aims to create more than 1 million jobs by 2020 in a city that will be home to two million people.