With some analysts expecting Saudi Arabia’s population to expand by just over 8m to reach 39.1m by 2030, along with continued growth in the Kingdom’s energy-intensive industries, demand for electricity and desalinated water is set to rise considerably in the coming years. Estimates suggest that more than SR500bn ($133.3bn) will need to be...
How can energy storage for solar generation, particularly in emerging markets, be improved?
At an industry conference in June 2015, Ali Al Naimi, Saudi Arabia’s former minister of petroleum and mineral resources, hinted that his country could phase out the use of fossil fuels by the middle of this century. While some have called this projection unrealistic, it demonstrates the significant political will driving the Kingdom’s...
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...
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...
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...
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