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Saudi Aramco reveals 260 billion barrels of oil reserves

09 June 2010

Saudi Aramco has revealed it has 260 billion barrels of oil reserves and plans to increase natural gas output to 15.5 billion cubic feet a day by 2014, Bloomberg has reported. "To ensure availability and reliability, we have invested heavily in new developments to increase oil production capacity," Mohammed Al-Qahtani, the executive director of Aramco's Petroleum Engineering and Development unit said. "A lack of resources isn't a constraining factor."

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