Saudi oil barons eye shale gas

Saudi Arabia’s oil barons are eyeing up shale gas in the hope of mimicking North America’s boom in the unconventional gas. The Middle Eastern oil powerhouse is to drill seven […]

Register now!

By Vicky Ellis

Saudi Arabia’s oil barons are eyeing up shale gas in the hope of mimicking North America’s boom in the unconventional gas.

The Middle Eastern oil powerhouse is to drill seven test shale gas wells this year, Oil Minister Ali Al-Naimi is quoted as saying.

The nation is the world’s largest producer and net exporter of oil according to International Energy Agency statistics for 2010, producing nearly 13% of the world’s oil in 2011.