About Saudi Arabia Summary
Ambassador's Message
Country Information
Agriculture & Water
Culture & Art
Economy &
Global Trade
Education
Energy
Oil
OPEC
Refining
Gas
Minerals & Mining
Electricity
Solar Energy
Facts and Figures
Government
Laws
Health &
Social Services
History
Islam
Map of Provinces
Sports & Recreation
Transportation & Communication
Embassy Information
Travel
Multimedia
Links
Home








 
Energy Related
Information
     

The energy sector is the backbone of the Saudi economy. The Kingdom possesses a quarter of the world’s proven oil reserves, and is the world’s largest producer and exporter of oil.

Saudi Arabia is also developing its additional energy resources – natural gas that once flared off oil wells is collected and used, and the Kingdom has become a producer of refined oil products and petrochemicals such as kerosene, diesel oil and gasoline.


In addition, with the discovery of deposits of precious and semi-precious metals, Saudi Arabia expects to become a major exporter of minerals in the coming decades.
 

Saudi Arabia has taken steps to expand the energy sector and encourage greater investment, especially by foreign companies.  In May 2000, the Supreme Council for Petroleum and Minerals (SCPM) – which oversees the maximization of natural resources – announced a decision to allow foreign investment in the gas sector and downstream industries.

Saudi Arabia continues to invest in the energy sector. In September 2006, the Kingdom announced plans for $70 billion in oil and gas programs over five years .


 
 

 

Related Information: Energy

RecentNews:
 
04/14/2008   Cabinet notes Saudi support for Arab unity, global energy cooperation
04/13/2008   King Abdullah highlights need to keep natural resources for future generations
04/13/2008   Finance Minister addresses IMF committee in Washington
04/11/2008   Term of service extended for assistant oil minister


Other Documents:


Oil
In 1933, Saudi Arabia's founder King Abdulaziz bin Abdelrahman Al-Saud granted the now-historic right to the Standard Oil Company of California (SOCAL) to prospect for oil in the Kingdom.

OPEC
The level of Saudi Arabia's oil production varies according to the state of the world oil market and the quotas of the Organization of Petroleum Exporting Countries (OPEC).
Refining
In the 1960s, Saudi Arabia began to build refineries for domestic and export production. Prior to that, the Kingdom had to send its crude oil to foreign refineries for processing and import refined products for its own use. The country rapidly expanded its refining capacity under the development plans in the 1970s.
Gas
Saudi Arabia has vast reserves of natural gas, including dissolved, associated and non-associated gases. Most of the natural gas produced is associated gas - light hydrocarbon gases such as ethane and propane produced in association with crude oil.
Minerals & Minings
As early as 1,000 BC, the inhabitants of the Arabian Peninsula extracted gold, silver and copper from the mine called Mahd Al-Dhahab (Cradle of Gold), located about 180 miles northeast of Jeddah.
Electricity
The five-year development plans have targeted the electrification of the country as a top priority.
Solar Energy
In keeping with its long-standing objective of exploring major renewable sources of energy, Saudi Arabia has undertaken extensive research on solar energy.



All contents on this web site is copyrighted ©2006 Information Office of the Royal Embassy of Saudi Arabia in Washington DC.  To contact the embassy by phone please call (202) 342-3800.  For the VISA Section please call (202) 944-3126 or send a fax to (202) 337-4084.  You may also send e-mails to info@saudiembassy.net