VOL. XXXII

NO. 15

16-JANUARY-1989

SAUDI ARABIA BOOSTS OIL RESERVE ESTIMATES BY 85BN BARRELS TO REACH 252BNBARRELS

Saudi Arabia's Aramco has announced a staggering increase of 85bn barrels inthe Kingdom's remaining recoverable oil reserves at year-end 1988 as comparedwith the previous year. According to the announcement, remaining reserves arenow assessed at 252.384bn barrels of oil and 177.294 trillion cubic feet ofgas. This contrasts with 1987 year-end reserve estimates of 167.4bn barrels ofoil...