The Oil & Gas Year Saudi Arabia 2016
Despite current low oil prices, Saudi Arabia has maintained its strong level of oil production. With its huge reserves, the kingdom will be able continue its massive output, but the government is also pushing to expand exploration to secure its place among industry leaders. TOGY spoke to Fatih Birol, executive director of the International Energy Agency, about the international market’s need for Saudi Arabia’s energy resources going forward. The country is looking to build on the considerable success it has seen in recent years in the offshore sector and is also taking advantage of the relative lull in the expensive unconventionals market to begin exploration of its own shale reserves.
OPEC secretary-general Abdalla Salem El Badri told TOGY about the impact of these new reserves on the global market and the investment response of the organisation’s members. The country is also maintaining its leadership in the petrochemicals sector through its strong research and development segments, while the potential partial privatisation of some state-owned downstream companies has been eagerly anticipated by investors. In an exclusive interview, Minister of Commerce and Industry Tawfig F. Alrabiah emphasises the importance of private investment and downstream diversification for the country.
Togy also met with Zuhair Allawi, the president of Dow Saudi Arabia Company; S-Chem executive president Said Mohammed Bajodah; Mutlaq Al Morished, the CEO of Tasnee; and Jamal Malaikah, president and chief operating officer of National Petrochemical Industrial Company, to gather their insight into the kingdom’s lucrative chemicals and petrochemicals sector in a special chapter.With direct commentary and perspectives from leaders in industry and government covering all aspects of the oil and gas value chain alongside TOGY’s detailed resources, maps and analysis, investor working in or looking to enter the kingdom will find The Oil and Gas Year Saudi Arabia 2016 an insightful guide to this complex and influential market.