Production from Saudi Arabia’s oilfields will remain at near-record levels in the short to medium term, with Riyadh looking to maintain above-average output despite low prices. At its June 2015 meeting, OPEC decided to keep the bloc’s production at 30m barrels per day (bpd), the level that had been agreed the previous November. According to...
Although gas production increased by more than 70% between 2003 and 2013 according to BP figures, harnessing its potential presents a number of challenges. Saudi Arabia has no plans to export gas, seeing it as feedstock for local power, desalination and petrochemical plants in order to free up more oil for export.
When OPEC’s member states announced that their crude oil production target would remain at 30m barrels per day (bpd) at a meeting in Vienna on November 28, 2014, Saudi Arabia was accused of waging a price war to preserve market share. The implication was that the country wanted to see the price of Brent crude fall so low that drillers in the...
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 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.
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