{"id":267758,"date":"2019-04-03T05:22:04","date_gmt":"2019-04-03T05:22:04","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=267758"},"modified":"2019-04-03T05:46:26","modified_gmt":"2019-04-03T05:46:26","slug":"saudi-arabias-biggest-oil-field-is-fading-faster-than-anyone-guessed","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabias-biggest-oil-field-is-fading-faster-than-anyone-guessed\/","title":{"rendered":"Saudi Arabia&#8217;s biggest oil field is fading faster than anyone guessed"},"content":{"rendered":"<p>It was a state secret and the source of a kingdom\u2019s riches. It was so important that US military planners once debated how to seize it by force. For oil traders, it was a source of endless speculation. <\/p>\n<p>Now the market finally knows: Ghawar in Saudi Arabia, the world\u2019s largest conventional oil field, can produce a lot less than almost anyone believed. <\/p>\n<p>When Saudi Aramco on Monday published its first ever profit figures since its nationalization nearly 40 years ago, it also lifted the veil of secrecy around its mega oil fields. The company\u2019s bond prospectus revealed that Ghawar is able to pump a maximum of 3.8 million barrels a day &#8212; well below the more than 5 million that had become conventional wisdom in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was a state secret and the source of a kingdom\u2019s riches. It was so important that US military planners once debated how to seize it by force. For oil traders, it was a source of endless speculation. Now the market finally knows: Ghawar in Saudi Arabia, the world\u2019s largest conventional oil field, can produce a lot less than almost anyone believed. When Saudi Aramco on Monday published its first ever profit figures since its nationalization nearly 40 years ago, it also lifted the veil of secrecy around its mega oil fields. The company\u2019s bond prospectus revealed that Ghawar is [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-267758","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/267758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=267758"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/267758\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=267758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=267758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=267758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}