At a time of great change in Saudi Arabia and amidst debates about rapid economic diversification, it is perhaps easy to overlook the fact that even in the most optimistic forecasts of Saudi Vision 2030 – the national development strategy – the oil and gas sector will account for at least half of the country’s exports in the fourth decade of the 21st century. Similarly, while the revolution in...
Saudi Arabia Energy
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2017 proved a momentous year for the Kingdom of Saudi Arabia as the various strategies related to the country’s Vision 2030 and National Transformation Plan 2020 started to take shape.
Moves to privatise utilities assets in Saudi Arabia and expand the reach of its networks through increased investment should create new opportunities for private operators and service providers.
Articles & Analysis | Saudi Arabia sets out strategy to reform subsidies and reduce domestic energy usage from The Report: Saudi Arabia 2016
In December 2015 Saudi Arabia launched a five-year energy subsidy reform plan aimed at reducing government expenditure and making the Kingdom more energy efficient at a time when revenues have been hit by low oil prices. With the Kingdom relying on oil for an estimated 73% of government revenues, maintaining the existing subsidy framework...
Articles & Analysis | Saudi Arabia takes part in OPEC negotiations to address oversupply of oil from The Report: Saudi Arabia 2016
Ongoing talks to reduce the global supply of oil in an attempt to raise prices have so far yielded only preliminary agreements, with Saudi Arabia and other major oil-producing nations historically unwilling to reduce their exports. However, with oil prices falling from $115 per barrel for Brent crude in June 2014 to a low of $28.50 in late...
Articles & Analysis | An initial public offering of part of Saudi Aramco could have global consequences from The Report: Saudi Arabia 2016
In a January 2016 interview, Deputy Crown Prince Mohammed bin Salman Al Saud hinted that Saudi Arabia was considering selling a stake in Saudi Aramco, the world’s largest oil producer and the central player in the country’s energy sector. The news caught many people in the energy industry by surprise and led to a scramble to try to understand...