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WEALTH IN OIL PRODUCTION

WEALTH IN OIL PRODUCTION. Top World Oil Producers, Exporters, Consumers, and Importers, 2006 (millions of barrels per day). Saudi Arabia.

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WEALTH IN OIL PRODUCTION

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  1. WEALTH IN OIL PRODUCTION

  2. Top World Oil Producers, Exporters, Consumers, and Importers, 2006(millions of barrels per day)

  3. Saudi Arabia

  4. SAUDI ARABIA- -oil based economy -has the world's largest oil reserves ( possesses 25% of the world's proven petroleum reserves ) -the world's largest oil exporter -plays a leading role in OPEC -Organization of the Petroleum Exporting Countries

  5. The petroleum sector accounts for roughly 45% of budget revenues, 55% of GDP, and 90% of export earnings • -With high oil revenues enabling the government to post large budget surpluses, Riyadh has been able to substantially boost spending on job training and education, infrastructure development, and government salaries.

  6. ABU DHABI

  7. Abu Dhabi-holds 9% of the world’s proven oil reserves • the wealthiest emirate of the UAE in terms of Gross Domestic Product (GDP) and per capita income • largest oil producer of the UAE • More than $1 trillion is invested worldwide in this city alone • has actively attempted to diversify its economy in recent years through investments in financial services and tourism. Abu Dhabi is the second most expensive city for expatriate employees in the region, and 50th most expensive city in the world • Budget surplus

  8. The government subsidizes almost 95% of mosques and employs all imams. • Free health services • no sales tax or income tax

  9. Palm Island

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