The drop in global oil prices in the second half of 2014 thrust Saudi Arabia’s energy sector into the spotlight, but the consequences for the Kingdom vary significantly depending on whether they are measured in terms of production, price or perception.
Local scientists and engineers working in Saudi Arabia’s laboratories and on its test rigs have been making significant research and development (R&D) gains in the energy technology sector in recent years. In 2014, Saudi Aramco set a new record for inventiveness and innovation – 99 patents were granted to the company in the US, while an...
The recent fall in oil prices means that the energy sector’s contribution to Saudi Arabia’s economic growth will be limited in 2015, with expansion to be driven more by the non-oil sector, which is forecast to increase by about 5% in 2015. Saudi Arabia’s crude oil production averaged 9.71m bpd in 2014, compared to 9.63m in 2013 and 9.76m in 2012. However, despite lower oil prices, the Kingdom...
The Kingdom leads the world in the production and consumption of desalinated water, and with an estimated SR91bn ($24.3bn) of expansion plans in the pipeline until 2020, as well as privatisation in the offing, the sector offers opportunities for a range of investors.
What steps must be taken to ensure that Saudi Arabia’s growing power and water needs are met? What role can technology play in ensuring this?
Providing power for its rising population represents a significant challenge for Saudi Arabia, with the Kingdom generating more than twice as much electricity in 2015 as it did in 2000 in order to meet growing demand. According to the Electricity and Cogeneration Regulatory Authority (ECRA), the Kingdom will have to invest some $140bn before...
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