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.
| 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 |
17 Mar, 2023
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Saudi Aramco has posted the highest profits ever for a listed company. And it’s not stopping there, with another year of record investments planned for 2023. CEO Amin Nasser says hiking near-term upstream spending puts Aramco “on the right side of reality” rather than the wrong side of the energy transition.
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