Will Saudi Aramco be a major exporter of power by 2023?
Saudi Aramco is developing the facility to be a major exporter of power by 2023. Saudi Arabia’s refining capacity is likely to rise over the coming decade, with Saudi Aramco looking for downstream joint ventures in China and India – the major centers for growth.
Will Saudi Arabia increase oil output in 2024?
This strategic pivot became evident recently as Saudi Arabia prepared to increase oil output, aligning with broader OPEC+ decisions to gradually unwind some production cuts starting in December 2024.
Will Saudi Aramco convert crude into chemical products in 2021?
Saudi Arabia’s proven crude reserves remained largely flat at 267.192 million barrels in 2021. Saudi Aramco plans to convert up to 4 million b/d of crude into chemical products by 2030, from 1 million b/d presently. The growth in product comes amid accelerating efforts to capture the growing market for product and feedstock in Asia.
Will OPEC & Saudi Arabia move to higher oil market volatility?
After several years of relative stability in global crude oil markets, speculation is risi ng that strategic shifts from Saudi Arabia, OPEC, and the larger OPEC+ oil cartel could presage another period of higher market volatility in the months to come.