ADDING value is the new mantra. Unveiled a few years back, this new strategy is now fully in operation. Saudi Arabia and other regional oil producers are endeavoring to diversify their economy — away ...

LONDON, May 27 (Reuters) - Saudi Arabia has been cranking up oil refining operations to capture strong profit margins, helping the kingdom offset revenue lost from declining crude prices and exports.

Saudi Arabia is offsetting some oil revenue losses from falling crude prices by ramping up refinery operations and exporting record-high volumes of refined petroleum products. Despite higher refining ...