Refining Saudi Arabia's future
Saudi Arabia is taking the opportunity of collective oil-production cuts to focus on downstream ventures
Sometimes it's the brief, unscripted remark that can shed light on society more than a formal announcement. "We need to develop a savings culture," the head of the Saudi Arabian Monetary Agency (Sama), Ahmed Alkholifey, told an interviewer on stage at the Euromoney conference in Riyadh in May. He was discussing how Saudis would need to adapt to more frugal lifestyles, consuming less fuel, water and electricity, to achieve its Vision 2030. "The savings rate in the kingdom is very low," the head of the Saudi central bank continued. "We are working with the ministries of education and energy to encourage a culture of savings." The question of whether to save has also become the subject of some
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
