Saudi Arabia Energy Report
Abeer Al Ghamdi
November 2020 Doi: 10.30573/KS--2020-DP25 About KAPSARC
The King Abdullah Petroleum Studies and Research Center (KAPSARC) is a non-profit global institution dedicated to independent research into energy economics, policy, technology and the environment across all types of energy. KAPSARC’s mandate is to advance the understanding of energy challenges and opportunities facing the world today and tomorrow, through unbiased, independent, and high-caliber research for the benefit of society. KAPSARC is located in Riyadh, Saudi Arabia.
This publication is also available in Arabic.
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Saudi Arabia Energy Report 2 Key Points
In 2018, the Kingdom of Saudi Arabia had around 298 billion barrels of proven reserves, up from 296 billion barrels in 2017, representing 57% of all Gulf Cooperation Council (GCC) reserves. Saudi Arabia’s gas reserves reached around 6 trillion cubic meters (tcm) in 2018, making it the world’s sixth-largest holder of gas reserves.
In 2018, Saudi Arabia produced 12.3* million barrels per day (MMb/d) of oil per day, representing 13% of total global oil production, and exported an estimated 8.5 MMb/d of crude oil and refined products. The Kingdom’s direct oil use reached 0.41 MMb/d in the same year, and natural gas production reached 112 billion cubic meters (bcm), representing 3% of total global natural gas production. There is more domestic demand for natural gas (708.6 MMb) than any other petroleum product. Natural gas demand is followed by premium gasoline demand at 194 MMb.
In 2018, Saudi Arabia produced 1,028.3 MMb of refined products. This represented a 1.9% fall from 2017. Diesel was the most refined product at 392 MMbd, followed by gasoline and fuel oil at 199 MMb.
Oil refinery throughput reached 2.7 MMb/d in 2018, which accounted for 3% of global refinery throughput and 47% of all GCC oil refinery throughput.
Saudi Arabia’s electricity consumption in 2018 was around 289.8 terawatthours (TWh), a slight increase of 0.42% from the 2017 level of around 288.6 TWh. Electricity peak load was 61.7 gigawatts (GW) in 2018, down by 1.5% from 2017 (62.1 GW), while electricity power generation capacity decreased by 1.7% in the same year to 68.8 GW from around 70 GW in 2017.
Saudi Arabia’s installed renewable energy capacity was 142 megawatts (MW) in 2018, with wind power accounting for 3 MW, and photovoltaic (PV) 139 MW. Saudi Arabia accounted for 20% of total GCC installed renewable energy capacity.
* Oil production includes crude oil, shale oil, oil sands, condensates (lease condensate or gas condensates that require further refining) and natural gas liquids - ethane, LPG and naphtha separated from the production of natural gas.
Saudi Arabia Energy Report 3 Summary
audi Arabia is one of the world’s leading Saudi Arabia is the world’s biggest oil exporter. In oil producers and exporters. It has the 2018, it exported an estimated 8.5 million barrels per second-largest proven crude oil reserves day of crude oil and refined products. The country Safter Venezuela. Saudi Arabia’s oil reserves have plays an important role in the global energy industry. made it one of the most significant players in the Its policies regarding its production and export of global oil market. The country also possesses oil, natural gas and petroleum products have a vast reserves of natural gas and, in 2018, had the major impact on the energy market and the global sixth-largest reserves of natural gas, just below economy. the United States. In 2018, Saudi Arabia also accounted for 13% of world oil production and This report provides a comprehensive overview of 3% of all natural gas production. Saudi Arabia Saudi Arabia’s energy profile. It gives an overview has a massive electricity distribution network that of the country’s primary and secondary energy mix, covers all major cities, towns and villages across with a focus on the 2018 key energy data indicators. the country. In 2018, Saudi Arabia’s electricity The first section details the Kingdom’s oil and generation reached 384 terrawatthours (TWh), gas reserves, production and consumption and representing 55% of all Gulf Cooperation Council provides data on Saudi Arabia’s renewable energy (GCC) countries’ total generation. potential. The second section focuses on Saudi Arabia’s secondary energy, which includes refinery While the economy of Saudi Arabia is still capacities and electricity consumption. This report dependent on oil and petrochemicals, it recognizes is also available in a digital version, which includes the importance of having a diversified energy mix machine-readable data and dashboards and will be for its economic prosperity. The country is also updated annually. looking at alternative energy sources, including solar energy, as it receives some of the most intense sunlight in the world. Saudi Arabia has one of the largest renewable production capacities in the GCC, accounting for 19% of total GCC wind production and 18% of total GCC solar production. It has an ambitious plan to deploy more renewable energy and has successfully tendered for large-scale projects in wind and solar energy. The Kingdom has major oil fields and oil refineries, most of which are located in the Eastern Province, including the largest onshore field, Ghawar, and the largest offshore field in the Arabian Gulf, Safaniya.
Saudi Arabia Energy Report 4 Saudi Arabia Fact Sheet (2018)
Population 34,173,498 (July 2020 est.)
Population growth rate 1.6% (2020 est.)
Area 2,149,690 sq km
Petroleum Natural gas Natural resources Iron ore Gold Copper
Number of housing units 3,591,098 data
Climate Dry desert with significant temperature extremes
Sources: CIA (2020); KAPSARC.
Access this link for Saudi Arabia’s country profile.
Saudi Arabia Energy Report 5 Primary Energy
Reserves According to the BP Statistical Review of World Energy 2019, the Kingdom had around 298 billion Oil barrels of proven reserves in 2018, up from 296 billion barrels in 2017, which represented 57% of all Saudi Arabia holds 16% of the world’s proven oil Gulf Cooperation Council (GCC) reserves (over 500 reserves, second only to Venezuela with 18%. billion barrels). There were more than 1,700 billion barrels of total world reserves in 2018.
Figure 1. Saudi Arabia’s oil reserves (2018).