Is Saudi Arabia assessing the commercial returns of its record outlay?
According to analysts, Saudi officials are assessing the commercial returns of their record outlay as Saudi Arabia’s lavish drive to modernise its oil-reliant economy comes under budgetary strains.
What are the upcoming oil and gas projects in Saudi Arabia?
Saudi Arabia is expected to see the commencement of several oil and gas projects during the period 2023 to 2027. Approximately 61% of these projects, totaling around the upcoming projects, are petrochemical projects according to GlobalData, a leading data and analytics company.
How much oil does Saudi Aramco extract per day?
As of 31 December 2018, total reserves of 58.32 billion barrels (9.272 × 10 9 m 3) of oil equivalent including 48.25 billion barrels (7.671 × 10 9 m 3) barrels of liquid reserves have been confirmed by Saudi Aramco. Average daily extraction was 3.8 million barrels (600,000 m 3) per day.
Does Saudi Arabia have a public investment fund?
The Public Investment Fund, the acquisitive Saudi sovereign wealth vehicle, has issued bonds four times this year, and state-owned oil giant Aramco floated more than a billion shares to fund major projects, according to experts.