HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the textile industry
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the tourism industry
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the petroleum industry
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the agricultural industry
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Detailed explanation-1: -Saudi Arabia is the world’s largest producer and exporter of oil, and has one quarter of the world’s known oil reserves – more than 260 billion barrels. Most are located in the Eastern Province, including the largest onshore field in Ghawar and the largest offshore field at Safaniya in the Arabian Gulf.
Detailed explanation-2: -Saudi Arabia possesses around 17 per cent of the world’s proven petroleum reserves. Apart from petroleum, the Kingdom’s other natural resources include natural gas, iron ore, gold, and copper.
Detailed explanation-3: -In 2020, Saudi Arabia’s oil reserves amounted to 40.9 billion metric tons. Saudi Arabia has one of the largest oil reserves in the world, accounting for about one-fifth of the world’s conventional oil sources.
Detailed explanation-4: -Petroleum exports account for a large share of Saudi Arabia’s economy. They accounted for nearly 70% of the country’s total exports in terms of value in 2020, and about 53% of the Saudi government’s revenues were oil-based.