Kuwait’s position as one of the biggest players in the international energy markets is backed by its proven reserves, currently the sixth-largest in the world. While international oil prices will have a significant impact on state revenues moving forward, low production costs and ample fiscal reserves should shield the country from the price downturn. The country increased its oil production...
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Articles & Analysis | From refining to associated gas, Saudi Arabia's product offerings thrive from The Report: Saudi Arabia 2015
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.
Articles & Analysis | Saudi Arabia, OPEC’s largest oil producer, keeps on pumping from The Report: Saudi Arabia 2015
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...
Articles & Analysis | Saudi Arabia investing in a range of upstream and downstream areas from The Report: Saudi Arabia 2015
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...
Articles & Analysis | The fall in oil prices brings fresh attention to the world’s largest oil exporter, Saudi Arabia from The Report: Saudi Arabia 2015
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.
Articles & Analysis | Research has led to a range of alternative technologies and solutions from The Report: Saudi Arabia 2015
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...