Is Saudi Arabia Exaggerating Its Oil Production Potential?

[Corruptistan]

The real threat to Saudi Arabia comes from new energy.

I think the Saudi government should consider large-scale investment in new energy to hedge this threat.

KSA is a renewables energy superpower in the making. They have invested hugely in solar technology and other renewables such as wind, dams, geothermal etc. In fact Saudi Arabian solar panel firms are building entire solar farms in many Arab and non-Arab countries from Uzbekistan to Morocco.

Google ACWA Power.

ACWA POWER | Home

ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation, renewable energy and desalinated water production plants

acwapower.com

ACWA Power - Wikipedia

en.wikipedia.org

Saudi Arabian solar: how the state has invested in overseas solar projects

ACWA Power has invested in some of the world’s largest solar projects, including the Redstone facility and the Kom Ombo plant.

www.power-technology.com

KSA has very big ambitions in this regard and have already initiated many such projects.

I forgot nuclear energy, KSA plans to build over 10 nuclear power stations by 2030. Currently there are only 3 majority Muslim nations with active nuclear power stations. US (Pakistan) with several, UAE (with the currently the largest one called Barakah) and the German/Russian constructed Bushehr one in Iran that the Russians helped finalize recently after 40 years of work overall.

List of nuclear power stations - Wikipedia

en.wikipedia.org

BTW according to the Saudi Vision 2030, by 2030 50% of KSA's energy needs will be covered by renewables.

Strong momentum in Saudi Arabia’s drive toward renewables and infrastructure

Saudi Arabia’s strategy to push through its portfolio of clean and renewables assets was further strengthened in 2021 as the kingdom witnessed several project financings in the solar sector and launched the National Infrastructure Fund (NIF) to diversify its economy.

www.mei.edu

KSA is by far the largest country in the region = they could power the entire neighborhood alone with solar power (once this technology becomes even more effective) if just a tiny percentage of KSA's landmass was used to construct solar farms.

So KSA is more than safe in this regard, in fact it is a renewables energy superpower in the making with untold finances to back its ambitions up.

THE Thread is about oil in Saudi Arabia has nothing to do with Iran...there are consistent reports about Saudi oil reserves being fake...I did not do the reports..I do simple math......unless every barrel of Saudi oil that is extracted from Saudi reserves some magic way gets replaced with new oil (from heavens may be) then something is not right..read the report...and no significant new oil is being discovered...so stop turning any issue into religious domain..I could care less about shia or sunni stuff...

Useless "reports" that have been debunked time and time again by actual official data. Everything is explained in post 2 by me (and the sources that I posted) for anyone that has any doubts of the accuracy of that low quality opinion piece by some nobody.

Expect that there have been tons of new oil and gas discoveries in KSA just in recent years. I already posted that news. Let alone in the past 40 freaking years.

End of stuff, people can live in their alternative reality, meanwhile official recognized data shows the ground realities.

 

[Corruptistan]

I mean investing in photovoltaic, lithium batteries, new energy vehicles, wind machinery manufacturing, biomass energy, nuclear fusion and other technologies and industries.

Saudi Arabia can cooperate with China. Saudi Arabia sells shares of Saudi Aramco and China sells shares of state-owned new energy enterprises.

All of that is being worked on and more. In fact some of those topics were covered just today with news in the "Made in KSA" thread on the Arab section.

Made in KSA

Read about Saudi Arabian ACWA Powers. They develop their own photovoltaics.

As for lithium batteries;

Advanced Batteries & Energy Storage Research by IDTechEx

This free daily journal provides updates on the latest industry developments and IDTechEx research batteries and energy storage including the technology, the advancements and the applications.

www.advancedbatteriesresearch.com

By new energy vehicles you probably are talking about electric cars. KSA owns most of Lucid Motors and they are about to build several large factories in KSA.

https://www.lucidmotors.com/media-room/lucid-group-gearing-up-first-international-plant-saudi-arabia

All news from this year alone.

Saudi Arabia wind farm with locally produced wind machinery turbine.

Dumat Al Jandal wind farm in Saudi Arabia starts production

Dumat Al Jandal, a 400MW utility-scale wind power project in Saudi Arabia, has been connected to the country's grid and begun generating electricity.

www.power-technology.com

Biomass energy:

Saudi Arabia | BioEnergy Consult

www.bioenergyconsult.com

Nuclear fusion (news from earlier this year)

Saudi Arabia Launches a Nuclear Energy Company

Note to Readers For the latest news on nuclear energy issues in Ukraine sign up to receive the newsletter of the American Nuclear Society Rapid Response Taskforce which has updates on the status of…

neutronbytes.com

Nuclear power in Saudi Arabia - Wikipedia

en.wikipedia.org

Read about Saudi Arabian SABIC and China and the deals signed.


SABIC

SABIC Global Headquarters in Riyadh, Saudi Arabia
Trade name	SABIC
Native name	الشركة السعودية للصناعات الأساسية (سابك)
Type	Public
Traded as	Tadawul: 2010
ISIN	SA0007879121
Industry	Chemicals
Founded	September 1976; 45 years ago
Headquarters	Riyadh , Saudi Arabia
Key people	Khalid H. Al-Dabbagh(Chairman) Yousef A. Al-Benyan (CEO)
Products	Chemicals and intermediates, industrial polymers, fertilizersand metals
Revenue	USD31.3 billion (2020)
Operating income	USD 1.98 billion (2020)
Net income	USD 37 Million (2020)
Total assets	USD 80 billion (2020)
Total equity	SAR168.76 billion (2019)
Owner	Saudi Aramco (70%)
Number of employees	32,721 (2019)
Website	www.sabic.com

Saudi Basic Industries Corporation (Arabic: الشركة السعودية للصناعات الأساسية), known as SABIC (Arabic: سابك), is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco.[1][2] It is active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals.[3] It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul.

In 2017, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500.[4] By the end of 2018 SABIC was the world's 281th-largest corporation.[5] In 2014, the company had sales revenues of $50.4 billion, profits of $6.7 billion and assets standing at $90.4 billion.[6] It also has been recognized as the world's second most valuable brand in the chemicals industry by Brand Finance in 2021.[7]

SABIC - Wikipedia

en.wikipedia.org

SABIC even has a technology center in Shanghai and several plants across China.

Sabic

From making cars and planes more fuel-efficient, to helping conserve the world’s water supply and enabling colorful smartphone cases, we find solutions to the challenges of today to help our customers achieve their ambitions and build a better tomorrow.

www.sabic.com

Sabic

From making cars and planes more fuel-efficient, to helping conserve the world’s water supply and enabling colorful smartphone cases, we find solutions to the challenges of today to help our customers achieve their ambitions and build a better tomorrow.

www.sabic.com

SABIC JV signs $6bn agreement for Chinese petrochemical complex​

By Gavin Davids
Posted on September 2, 2021

SABIC JV signs $6bn agreement for Chinese petrochemical complex

SABIC to develop project in a 51:49 joint venture with Fujian Petrochemical Industrial Group

meconstructionnews.com

So while KSA keeps all of its developments relatively low-key (no boasting) a lot is happening to put it mildly.

@The SC should be able to tell more if he sees this post.

 

[MH.Yang]

KSA is a renewables energy superpower in the making. They have invested hugely in solar technology and other renewables such as wind, dams, geothermal etc. In fact Saudi Arabian solar panel firms are building entire solar farms in many Arab and non-Arab countries from Uzbekistan to Morocco.

Google ACWA Power.

ACWA POWER | Home

ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation, renewable energy and desalinated water production plants

acwapower.com

ACWA Power - Wikipedia

en.wikipedia.org

Saudi Arabian solar: how the state has invested in overseas solar projects

ACWA Power has invested in some of the world’s largest solar projects, including the Redstone facility and the Kom Ombo plant.

www.power-technology.com

KSA has very big ambitions in this regard and have already initiated many such projects.

I forgot nuclear energy, KSA plans to build over 10 nuclear power stations by 2030. Currently there are only 3 majority Muslim nations with active nuclear power stations. US (Pakistan) with several, UAE (with the currently the largest one called Barakah) and the German/Russian constructed Bushehr one in Iran that the Russians helped finalize recently after 40 years of work overall.

List of nuclear power stations - Wikipedia

en.wikipedia.org

BTW according to the Saudi Vision 2030, by 2030 50% of KSA's energy needs will be covered by renewables.

Strong momentum in Saudi Arabia’s drive toward renewables and infrastructure

Saudi Arabia’s strategy to push through its portfolio of clean and renewables assets was further strengthened in 2021 as the kingdom witnessed several project financings in the solar sector and launched the National Infrastructure Fund (NIF) to diversify its economy.

www.mei.edu

KSA is by far the largest country in the region = they could power the entire neighborhood alone with solar power (once this technology becomes even more effective) if just a tiny percentage of KSA's landmass was used to construct solar farms.

So KSA is more than safe in this regard, in fact it is a renewables energy superpower in the making with untold finances to back its ambitions up.



Useless "reports" that have been debunked time and time again by actual official data. Everything is explained in post 2 by me (and the sources that I posted) for anyone that has any doubts of the accuracy of that low quality opinion piece by some nobody.

Expect that there have been tons of new oil and gas discoveries in KSA just in recent years. I already posted that news. Let alone in the past 40 freaking years.

End of stuff, people can live in their alternative reality, meanwhile official recognized data shows the ground realities.

You misunderstood me. I mean new energy enterprises that have a monopoly in the world. Just like Saudi Aramco's position in the oil field.

For example, the shares of these enterprises:
New energy vehicle brand sales ranking.:
1. BYD, China.
2. Tesla, USA.

3. GEELY China.
4. GAC, China.
5. Xiaopeng, China.
6. ONE, China.
7. Neta, China.
8. NIO, China.
9. SAIC, China.
10. BMW, Germany.

Top 10 new energy automobile battery brands.
1. CATL, China.
2. BYD, China.

3. CALB, China.
4. GOTION HIGH-TECH, China.
5. SVOLT, China.
6. A123, USA.
7. EVE Battery China.
8. LG new energy, South Korea.
9. Panasonic (hydrogen energy), Japan.
10. Farasis Energy, China.

 

[Corruptistan]

You misunderstood me. I mean new energy enterprises that have a monopoly in the world. Just like Saudi Aramco's position in the oil field.

I don't think that it is possible for KSA to have monopoly of any large-scale used technology. There is talk of KSA becoming the next green hydrogen superpower (similar to their oil position) but doing it with other areas is difficult in an interconnected world.

If the Arab world was 1 single federal country (in such a case a potential world power) it maybe had been possible to pursue such goals but as of now monopoly is something that only countries with the population of China can attempt and even that is hard.

Nowadays most countries (that can afford it) are trying to be as self-sufficient as possible on all possible fronts.

 

[The SC]

All of that is being worked on and more. In fact some of those topics were covered just today with news in the "Made in KSA" thread on the Arab section.

Made in KSA

Read about Saudi Arabian ACWA Powers. They develop their own photovoltaics.

As for lithium batteries;

Advanced Batteries & Energy Storage Research by IDTechEx

This free daily journal provides updates on the latest industry developments and IDTechEx research batteries and energy storage including the technology, the advancements and the applications.

www.advancedbatteriesresearch.com

By new energy vehicles you probably are talking about electric cars. KSA owns most of Lucid Motors and they are about to build several large factories in KSA.

https://www.lucidmotors.com/media-room/lucid-group-gearing-up-first-international-plant-saudi-arabia

All news from this year alone.

Saudi Arabia wind farm with locally produced wind machinery turbine.

View attachment 861511

Dumat Al Jandal wind farm in Saudi Arabia starts production

Dumat Al Jandal, a 400MW utility-scale wind power project in Saudi Arabia, has been connected to the country's grid and begun generating electricity.

www.power-technology.com

Biomass energy:

Saudi Arabia | BioEnergy Consult

www.bioenergyconsult.com

Nuclear fusion (news from earlier this year)

Saudi Arabia Launches a Nuclear Energy Company

Note to Readers For the latest news on nuclear energy issues in Ukraine sign up to receive the newsletter of the American Nuclear Society Rapid Response Taskforce which has updates on the status of…

neutronbytes.com

Nuclear power in Saudi Arabia - Wikipedia

en.wikipedia.org

Read about Saudi Arabian SABIC and China and the deals signed.


SABIC

SABIC Global Headquarters in Riyadh, Saudi Arabia
Trade name	SABIC
Native name	الشركة السعودية للصناعات الأساسية (سابك)
Type	Public
Traded as	Tadawul: 2010
ISIN	SA0007879121
Industry	Chemicals
Founded	September 1976; 45 years ago
Headquarters	Riyadh , Saudi Arabia
Key people	Khalid H. Al-Dabbagh(Chairman) Yousef A. Al-Benyan (CEO)
Products	Chemicals and intermediates, industrial polymers, fertilizersand metals
Revenue	USD31.3 billion (2020)
Operating income	USD 1.98 billion (2020)
Net income	USD 37 Million (2020)
Total assets	USD 80 billion (2020)
Total equity	SAR168.76 billion (2019)
Owner	Saudi Aramco (70%)
Number of employees	32,721 (2019)
Website	www.sabic.com

Saudi Basic Industries Corporation (Arabic: الشركة السعودية للصناعات الأساسية), known as SABIC (Arabic: سابك), is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco.[1][2] It is active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals.[3] It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul.

In 2017, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500.[4] By the end of 2018 SABIC was the world's 281th-largest corporation.[5] In 2014, the company had sales revenues of $50.4 billion, profits of $6.7 billion and assets standing at $90.4 billion.[6] It also has been recognized as the world's second most valuable brand in the chemicals industry by Brand Finance in 2021.[7]

SABIC - Wikipedia

en.wikipedia.org

SABIC even has a technology center in Shanghai and several plants across China.

Sabic

From making cars and planes more fuel-efficient, to helping conserve the world’s water supply and enabling colorful smartphone cases, we find solutions to the challenges of today to help our customers achieve their ambitions and build a better tomorrow.

www.sabic.com

Sabic

From making cars and planes more fuel-efficient, to helping conserve the world’s water supply and enabling colorful smartphone cases, we find solutions to the challenges of today to help our customers achieve their ambitions and build a better tomorrow.

www.sabic.com

SABIC JV signs $6bn agreement for Chinese petrochemical complex​

By Gavin Davids
Posted on September 2, 2021

SABIC JV signs $6bn agreement for Chinese petrochemical complex

SABIC to develop project in a 51:49 joint venture with Fujian Petrochemical Industrial Group

meconstructionnews.com

So while KSA keeps all of its developments relatively low-key (no boosting) a lot is happening to put it mildly.

@The SC should be able to tell more if he sees this post.

SABIC is on its way to become the minerals' ARAMCO of Saudi Arabia..

 

[MH.Yang]

I don't think that it is possible for KSA to have monopoly of any large-scale used technology. There is talk of KSA becoming the next hydrogen superpower (similar to their oil position) but doing it with other areas is difficult in an interconnected world.

If the Arab world was 1 single federal country (in such a case a potential world power) it maybe had been possible to pursue such goals but as of now monopoly is something that only countries with the population of China can attempt and even that is hard.

Nowadays most countries (that can afford it) are trying to be as self-sufficient as possible on all possible fronts.

Yes, Saudi Arabia can't, but China can. And China has begun to monopolize many new energy fields. Saudi Arabia needs new energy industry to hedge the oil industry. China needs to ensure energy security. Both parties may allow each other to purchase a certain number of shares. This is a win-win situation.

 

[Corruptistan]

Yes, Saudi Arabia can't, but China can. And China has begun to monopolize many new energy fields. Saudi Arabia needs new energy industry to hedge the oil industry. China needs to ensure energy security. Both parties may allow each other to purchase a certain number of shares. This is a win-win situation.

I agree with you.

Given the strategic partnership between KSA and China this is already being done while we speak.

Chinese, Saudi Arabian FMs vow to deepen comprehensive strategic partnership

21:05, 08-Jul-2022

China will continue to firmly support Saudi Arabia in safeguarding national sovereignty, security and stability, and oppose any acts of interference in Saudi Arabia's internal affairs, said Chinese State Councilor and Foreign Minister Wang Yi on Friday.

He made the remarks when meeting with Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al Saud on the sidelines of the Group of 20 (G20) foreign ministers' meeting held in Bali, Indonesia.

China and Saudi Arabia have, as always, firmly supported each other over issues concerning their core interests, which demonstrated the important value of the China-Saudi Arabia comprehensive strategic partnership, he said.

For his part, Faisal said Saudi Arabia remains firmly committed to the one-China policy and has always stood against any foreign interference in China's internal affairs, adding that Saudi Arabia is ready to deepen the all-dimensional cooperation with China.

Both sides agreed to elevate the cooperation between China and the Gulf Cooperation Council to a higher level, speed up the negotiation on the China-GCC free trade agreement, and enhance communication and coordination within multilateral platforms including the United Nations, the G20 and the BRICS mechanism.

(Cover: Chinese State Councilor and Foreign Minister Wang Yi. /China's Foreign Ministry)

Chinese, Saudi Arabian FMs vow to deepen comprehensive strategic partnership

China will continue to firmly support Saudi Arabia in safeguarding national sovereignty, security and stability, oppose any acts of interference in Saudi Arabia's internal affairs, said Chinese State Councilor and Foreign Minister Wang Yi on Friday.

news.cgtn.com

Given the key strategic cooperation between KSA and China on fields spanning from uranium excavation in KSA, helping the Saudi Arabian ballistic missile program, Huawei 5G network (already established in all of KSA), huge trade volume (approaching 70 billion USD), KSA being the main exporter of oil to China, Chinese role in mineral excavation in KSA (goldmine) and much else, all this is only natural to take the steps further. I lost count of all the cooperation fields really.

Forgot Chinese drone factories being built in KSA (Wing Long II and CASC Rainbow (CH-5).

Even the first laser (confirmed) kill in the world was done by KSA using the Chinese Silent Hunter.

https://twitter.com/x/status/1508141737537122304

https://twitter.com/x/status/1508075629991927809

 

[MH.Yang]

I agree with you.

Given the strategic partnership between KSA and China this is already being done while we speak.

Yes, if Saudi Arabia holds a large number of shares in Chinese state-owned enterprise groups, China holds a large number of shares in Saudi Aramco. Then the relationship between the two countries will enter a new level.

In the trade negotiations between trump and China, an important requirement of the USA is to allow Wall Street capital to invest in Chinese state-owned enterprises. China has not made any concessions on this issue. If Saudi Arabia can enter Chinese state-owned enterprises, it means that China has chosen Arab capital rather than Jewish capital.

 

[Hydration]

If you bother to read the report provided to you by the OP you will see that I only smoke the good stuff..!

Glad to hear it

 

[Azadkashmir]

saudi should invest massive fertilizer r/d and factory petroleum fertilizer.

 

[The SC]

saudi should invest massive fertilizer r/d and factory petroleum fertilizer.

Ma’aden nears completion on first project in $6.4bn ‘Phosphate 3’ portfolio expansion ​

June 13, 2021​

​

​

https://saudigazette.com.sa/article/607710

​

https://sabic-agrinutrients.com/en​

https://www.chemanager-online.com/en/news/saudi-and-russia-sign-methanol-fertilizer-projects

 

[Shapur Zol Aktaf]

KSA is a renewables energy superpower in the making.

In a 29 October 2020 report, IHS Markit said the country's power generation increased to 365.16 TWh in 2019 of which 0.02% came from renewables, mainly solar.