Middle East

Saudi Arabia

Saudi Arabia with crude production capacity in excess of 12mn b/d is a critical supplier to global markets and the most powerful voice within Opec. Gas development is an increasingly key priority as the government seeks to erase its shortfall.

State of Play

Saudi Arabia’s Crown Prince Muhammad bin Salman plans to transform the country and end its “addiction to oil.” But crude oil is set to remain its dominant revenue source and foreign policy tool for the foreseeable future. The kingdom is also eying unconventional gas to ease its gas shortages, while renewables developments are finally gaining traction.

2020 In Numbers
Crude Output 9.22 mn b/d
Crude Exports 6.67 mn b/d
Gas Output 9.03 bn cfd
Oil Export Rev. 121.9 $bn
Oil % Export Rev. 69.5 %
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SELECTED DATA

Saudi Aramco Is Becoming Less Dependent On Its Upstream Portfolio For Revenues ($bn)

Saudi Aramco's Dividend Commitments Far Outweighed Free Cash Flow Over 2020 ($bn)

Oil Price Collapse Takes Its Toll: Saudi Oil Export Revenues Continue Their Steady Recovery From Multi-Year Lows Amid Output Cuts

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