By now, everyone in the country knows the name of the state-owned oil company that will run Saudi Arabia’s largest refinery, Al Gharbia, for the next five years.
As the world’s largest producer of crude oil, it will have one of the largest refineries in the world.
It will also be the country’s biggest employer.
Al Ghambia is the second-largest employer in Saudi Arabia, after the Ministry of Commerce.
This week, it became clear that the refinery is about to lose $1 billion, or 20 percent of its revenue, from the end of this year, the company’s head of exploration, Hassan Saif, told the Associated Press.
The company, however, has yet to provide any figures for how much of that figure the company lost.
If that’s the case, the country could lose $3.5 billion in oil revenue by 2020, according to the Saudi Arabian Ministry of Petroleum.
Saif said the refinery lost about $4.5 million in 2014, but he said the losses would be “relatively small” in the longer run.
In the end, Saif expects Al Ghibbia to make some money from its refinery, but that it won’t be enough to sustain the company for five years, as Al Ghabbia has to make up for losses from other parts of its business.
He said the company is also concerned that the economic crisis could affect its earnings, because it has to pay for the oil and gas that it gets from other suppliers, including its own.
“The situation will continue to change, so we have to adjust the business model,” Saif told the AP.
Saife said he doesn’t expect the company to be profitable this year.
The oil giant has been losing money since 2011.
In December, it announced that it will not increase production from the refinery until 2019, but its president said on Tuesday that the company was “optimistic” about that forecast.
“We are not going to stop, and I’m optimistic we will keep going to 2020,” Mohammed Al Saif al-Eldin said.
“If we can get production to the point where we can meet our costs, then I will be proud.”
The company is still negotiating with its customers, the government, and the country to get more oil out of the country.
But the refinery’s woes aren’t limited to Saudi Arabia.
In 2014, the United Arab Emirates (UAE) and Iran agreed to buy oil from the same company, which was not allowed to produce any oil in the UAE because of the Iran nuclear deal.
The deal is expected to allow the UAE to buy up to 40 percent of Al Gherbia’s reserves, the AP reported.
As part of the deal, Saudi Arabia agreed to provide up to $20 billion in funding for the refinery and its workers.
The money would be used to invest in infrastructure and other facilities.
The UAE and Iran have been trying to find new markets for their oil and to increase their export revenues.
“In the next two years, I would like to see us to export more to the world market,” Al Saife told the news agency.
“And if we have the right opportunities, we will export more oil from our country.”