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Saudi Arabia energy report

Saudi Arabia energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
60 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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Overview

Saudi Arabia is advancing its energy transition under Vision 2030, reducing oil dependence by expanding renewables—targeting 50% in its power mix—and diversifying through private investment. Key initiatives include solar and wind projects, gas expansion, and carbon capture, alongside ambitious net-zero pledges by 2060.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • As part of its plan to reduce its dependence on oil, Saudi Arabia is opening the energy sector to private investment.
  • The Saudi Green Initiative has set a target of 50% of renewables in the power mix in 2030.
  • Saudi Aramco is the largest crude oil producer worldwide, with a production of 11.5 mb/d in 2023.
  • SEC controls most of the power generation, transmission, and distribution.
  • Oil production decreased by 8%/year since 2022, after a 10% increase in 2022.
  • Despite large natural gas resources and growing production, the country does not export gas.
  • Final energy consumption rebounded by 3.5%/year since 2021.
  • Despite subsidy cuts since 2014, diesel prices are still among the lowest in the world.
  • Saudi Aramco will invest over US$68bn over the next 10 years to develop unconventional gas production.
  • The country aims to deploy 40 GW of solar projects by 2030
1st
oil exporter in the world
$100bn
to develop the Jafurah unconventional gas field
50%
of renewables in power production by 2030

  • Energy & Climate Policy Framework

    The Ministry of Energy oversees the energy sector and all energy policies.

    Saudi Arabia's economy remains heavily dependent on oil. Since their peak to a record of $326bn in 2022, oil export revenues have decreased by 45% to $179 bn in 2024 (-28% in 2024), partly because of price decrease and because of reduction in export volumes (60% price/40% volume) in 2022.

  • Energy Companies

    Electricity:

    SEC is the main generating company: it operates and owns a capacity of 56.4 GW (62% of total capacity) and produced 237 TWh in 2024 (55% of total output).

    The Saline Water Conversion Corporation (SWCC), an independent public body, operates more than 9.5 GW for the desalination of sea water.

    Hajr for Electricity Production Cooperates 4 GW.

  • Energy Supply & Demand

    Gas:

    The marketed gas production has been growing slowly since 2018 (2%/year), reaching 138 bcm in 2024. It grew rapidly between 2000 and 2018 (over 5%/year). The production is exclusively consumed domestically. The production of non-associated gas represents over 50% of natural gas production (up from 17% in 2015).

  • Energy Use and Price by Sector

    Energy Prices in Transport:

    Motor fuel prices are regulated and strongly subsidized. Significant subsidy cuts led to a 280% increase between 2014 and 2019. Gasoline prices have almost tripled since a drop in 2020, reaching US$0.62/l since 2022.

    Diesel prices are among the lowest in the world (US$0.31/l in 2024), despite an 80% increase in 2023.

    Graph: Energy Prices in Transport (Taxes Included)

  • Issues & Prospects

    Gas:

    Saudi Arabia targets a rapid increase in its gas production, with a focus on an increased penetration of gas in power generation. Saudi Aramco aims to double its gas production in ten years to more than 200 bcm/year by 2030.

  • Graph 1: Final Intensity to GDP
  • Graph 2: Primary Consumption Trends by Energy Source
  • Graph 3: Total Consumption Market Share by Energy (2024)
  • Graph 4: Installed Electric Capacity by Source
  • Graph 5: Installed Electric Capacity by Source (2024)
  • Graph 6: Gross Power Production by Source & Consumption
  • Graph 7: Power Generation by Source (2024)
  • Graph 8: CO2 Intensity of Electricity Generation
  • Graph 9: Crude Oil Production & Consumption
  • Graph 10: Petroleum Products Production & Consumption
  • Graph 11: Gas Production & Consumption
  • Graph 12: Emissions of GHG and CO₂ from Fuel Combustion
  • Graph 13: CO₂-Emissions per Capita
  • Graph 14: CO2 Intensity to GDP
  • Graph 15: Final Demand Trends by Energy Source
  • Graph 16: Final Consumption by Sector
  • Graph 17: Final Consumption Market Share by Sector (2024)
  • Graph 18: Share of Electricity in Total Final Energy Consumption
  • Graph 19: Final Consumption in Industry by Energy Source
  • Graph 20: Energy Prices in Industry (Taxes Included)
  • Graph 21: Final Consumption in Transport by Energy Source
  • Graph 22: Energy Prices in Transport (Taxes Included)
  • Graph 23: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 24: Energy Prices in Residential (Taxes Included)
  • Graph 25: Upcoming New Capacity by Energy Source
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.

The Saudi Arabia energy market data since 1990 and up to is included in the Excel file accompanying the Saudi Arabia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Saudi Arabia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Saudi Arabia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Saudi Arabia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.