Saudi Arabia has shale oil but must learn to tap it -minister

WASHINGTON, April 30 Tue Apr 30, 2013 3:52pm BST

WASHINGTON, April 30 (Reuters) - Saudi Arabia's oil minister said his country has a large amount of the type of crude that has led to an energy renaissance in the United States, but it needs to learn how to tap the resource.

"We believe we have tremendous volumes of shale oil; what we need to figure out is how to develop it," Saudi Oil Minister Ali al-Naimi said in a speech at the Center for Strategic and International Studies in Washington.

The United States has led the shale oil boom with advanced drilling technologies, helping to boost its crude production to the highest level in 20 years. (Reporting by Timothy Gardner)

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