Saudi Aramco Makes 14 New Discoveries as Oil Prices Bite

Saudi Aramco, the Kingdom’s giant national oil company, on Wednesday, announced the discovery of 14 new oil and natural gas that could add over 80 million cubic feet of gas per day and over 8,000 barrels of oil per day to Saudi Arabia’s fossil fuels expansion efforts, Arab News reports.  The discoveries were made primarily in the Eastern Region and the vast Empty Quarter, with a mix of oil and gas reservoirs identified, and while moderate in volume compared to the Kingdom’s vast reserves, analysts are heralding this as a…