Tags

Vision 2030 Fuels Saudi Shift to Natural Gas

Crude burn—the direct use of crude oil in power plants and industrial facilities, primarily for electricity generation—has long been a staple in Saudi Arabia’s energy mix. The kingdom burns significant volumes of oil to meet domestic electricity demand, which hovers around 171 terawatt-hours (TWh). However, analysis from Rystad Energy shows the upcoming Jafurah shale gas field, set to start production in 2025 and the largest of its kind globally, could dramatically shift this dynamic. By tapping into unconventional gas, Saudi Arabia stands to displace up to 350,000 barrels per day (bpd) of crude burn by 2030. The increased gas supply would not only curb domestic crude use but also free up more oil and refined products for export, strengthening the country’s position in global energy markets.

Saudi Denies Providing Oil Supplies For U.S Military Targeting Houthis

Since 2023, Yemen’s Houthi rebels have repeatedly attacked cargo ships passing through the strait of Bab al-Mandab that splits northeast Africa from Yemen on the Arabian Peninsula. The Iran-backed rebels have been targeting vessels with connections to Israel and Western countries, forcing dozens of shipping companies to take a 4,000-mile detour around the continent of Africa at significantly higher costs and extra shipping days.

Battle For Iraqi Oil Heats Up After Iran-Saudi Deal

Iraq’s crude oil production has been stuck between the 4.0-4.7 million barrels per day (bpd) level since 2016, with a mean average of about 4.5 million bpd during that period, but it could relatively straightforwardly produce 12 million bpd – way more than Saudi Arabia’s true crude oil production average of 8.2 million from 1973 to last Friday.