Saudi Arabia energy report

• 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 9.2 mb/d in 2020.
• SEC owns most of the generation, transmission, and distribution capacities.
• Oil production has decreased by 10% since 2019.
• Despite large natural gas resources and growing production, the country does not export gas.
• Gasoline and diesel prices have been raised substantially since 2014, but are still among the lowest in the world.
• Electricity prices were significantly increased between 2016 and 2018.
• The country's energy consumption has been declining slightly since 2015 with the price increases and the economic slowdown.
• Saudi Aramco will invest over US$100bn to develop unconventional gas production.

• Institutions & Energy Policy

  The Ministry of Energy is in charge of the energy sector and all energy policies. The environment is under the responsibility of the Ministry of Environment, Water and Agriculture.

• Energy Companies

  Electricity:

  SEC, Saudi Electric Company (75.1% public, 6.9% Saudi Aramco) was created in 2000 through the merger of the existing regional electricity companies ("SCECOS") with the national electricity production, transport, and distribution company.

• Energy Supply

  Oil:

  Production has decreased by 10% since 2019 (-5% in 2019, -6% in 2020 and, -1% estimated for 2021). It had increased before by 24% between 2010 and 2018 (+34% since 2000). Total oil production reached 513 Mt in 2020 (12% of the global production). Crude oil represents 90%, while the rest is made up of NGLs.

• Energy Prices

  Oil:

  Motor fuel prices are regulated and strongly subsidized. They remain among the lowest in the world, despite significant subsidy cuts which led to a 280% increase between 2014 and 2019. Gasoline prices rose to US$0.54/l in 2019 and dropped to US$0.22/l in 2020 following international prices. Diesel prices were US$0.13/l in 2020 (+90% since 2014).

• Energy Consumption

  Consumption per capita is very high, reaching 5.9 toe in 2020, including about 9.1 MWh of electricity.

• 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.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Saudi Arabia energy market report graphs:

• GRAPH 1: CO₂-Energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Electricity prices for industry and households (US$c/kWh)
• GRAPH 7: Consumption trends by energy source (Mtoe)
• GRAPH 8: Total consumption market share by energy (2020, %)
• GRAPH 9: Final consumption market share by sector (2020, %)

In the Saudi Arabia energy market report you will find the following tables:

• 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.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

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.