After opening 2022 at around $78 per barrel, Brent crude oil prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine – before moderating slightly to around $106 as of mid-March. Although investment in oil and gas has fallen by about 30% since the outbreak of the Covid-19 pandemic,...
Energy
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Articles & Analysis | The impact of rising oil prices on the Gulf’s shift to renewables from The Report: Saudi Arabia 2022
Articles & Analysis | How Saudi Arabia is positioning itself as a leader in green energy from The Report: Saudi Arabia 2022
As Saudi Arabia moves to diversify its economy and reduce its reliance on oil revenue, the energy sector is set to remain of paramount importance to future development. The Kingdom is positioning itself to increase its oil exports over the coming decade in a move expected to help the country maintain its role as a reliable and versatile global supplier in an increasingly...
Interviews & Viewpoints | Gregory Fayet, CEO, EDF Renewables Saudi Arabia: Interview from The Report: Saudi Arabia 2022
Interviews & Viewpoints | Turki Al Shehri, CEO, Engie Saudi Arabia: Interview from The Report: Saudi Arabia 2022
Articles & Analysis | Saudi Arabia pushing investment in oil and gas to meet global demand from The Report: Saudi Arabia 2022
Saudi Aramco is planning to boost its maximum crude oil production capacity to over 13m barrels per day (bpd) by 2027, up from 12m bpd as of August 2022. This is set to bolster Saudi Arabia’s position in global energy markets and afford the Kingdom greater agility under various possible energy transition scenarios. The expansion plan was announced in March 2020 and is expected...
Chapter | Energy & Utilities from The Report: Saudi Arabia 2022
As Saudi Arabia moves to diversify its economy and reduce its reliance on oil revenue, the energy sector is set to remain of paramount importance to future development. The Kingdom is positioning itself to increase its oil exports over the coming decade in a move expected to help the country maintain its role as a reliable and versatile global supplier in an increasingly uncertain market....