Al Suwailem, Majed A.

Natural Gas Utilization in GCC Countries

Between 2009 and 2019, marketed gas production by Gulf Cooperation Council (GCC) members has grown at an average rate of 4.8% per annum, from 265 billion standard cubic meters in 2009 to 422 billion standard cubic meters (Bscm) in 2019. This has been driven by increased demand for gas for electricity generation, power desalination, and petrochemical industries.

Crude Oil Reserves Metrics of GCC Members

As of December 2018, the Gulf Cooperation Council (GCC) countries had combined proven reserves of 497 billion barrels of crude oil. This represents approximately 34% of the world’s estimated proven crude reserves.

Integrated Oil Companies and the Quest for Energy Transition

Integrated oil and gas (O&G) companies operate vertically integrated businesses that span the O&G value chain. In this way, they can leverage expertise across multiple domains rather than just focusing on exploration and production (E&P). Examples of such companies include British Petroleum (BP), Cenovus Energy, Chevron, Eni, Imperial Oil, ExxonMobil, Repsol, Royal Dutch Shell, Suncor Energy and TotalEnergies. Integrated O&G companies played a central role in advancing energy availability and economic growth during the twentieth century. However, these companies now face the challenge of addressing the need for a new energy transition in the twenty-first century. This transition will involve a shift from fossil fuels to alternative fuels, such as renewable wind and solar energy, battery storage and nuclear energy.   Read more here

How Do Bankruptcies in the Shale Sector Induce Operators to Focus on Value Creation?

Between January 2015 and early 2021, about 76 of the approximately 2,160 small-to-medium independent companies in the tight oil sector filed for Chapter 11 protection. These filings mostly occurred in 2016 and 2019. These companies were negatively impacted by the low oil prices in these years owing to their lack of financial discipline and poor financial risk assessments. As a result, they declared bankruptcy.   Read more here

The Road to Zero Routine Gas Flaring: A Case Study from Saudi Arabia

Gas is envisaged as the fuel of choice in the power sector and is ideal for helping to transition toward clean, sustainable, and affordable energy access. As vital as gas is for electricity generation, the petrochemical industry, the transportation sector, and heating, many oil operators either flare or vent associated gas, a by-product of oil extraction, at the wellhead or gathering stations. Gas flaring releases greenhouse gases (GHGs) into the atmosphere. It occurs for various reasons, including infrastructure and financial constraints to capture the gas, inadequate regulatory frameworks, or binding contractual rights.   Read more here

Leveraging Intellectual Capital to Enhance Collaboration and Technology Deployment While Mitigating Freedom to Operate Risks in the Partitioned Zone

Saudi Arabian Chevron, Inc. (SAC) established a robust, evergreen Intellectual Property Program to manage its intellectual property assets across the onshore portioned zone. The program applies Chevron’s intellectual property asset management system and accounts for government regulations and specific intellectual property provisions for company operations in the region.

Devising and Optimizing Development Strategies for South Fuwaris Field Using Integrated Reservoir Simulation Models

The South Fuwaris Field is located in the Partitioned Zone (PZ) between Saudi Arabia and Kuwait and is operated jointly by Saudi Arabian Chevron (SAC) and Kuwait Gulf Oil Company (KGOC). South Fuwaris produces light crude (240 API) from two prolific heterogeneous carbonate reservoirs: Ratawi Limestone and Ratawi Oolite. The field has been developed using vertical and horizontal wells with all wells on electric submersible pumps.

Pushing Maximum Reservoir Contact Applications to New Limits in Tight Facies: A Case Study of Middle East’s Highest Reservoir Exposure Producer

The paper presents the evolution of reservoir management strategies that supported a recently drilled penta-lateral producer, which set a company record of total reservoir contact in a major greenfield in the Middle East. This paper will investigate the maximum reservoir contact (MRC) evolution in the field, the design phase of this game-changing producer, lessons learned and future implications.

BRICS+ and the Future of Commodity Markets

The dissolution of the Soviet Union in late 1991 marked a pivotal shift in the global economic landscape, ushering in an era characterized by increased market openness and economic integration. The years following have been symbolized by the formation of the European Union in 1993 and the establishment of the World Trade Organization (WTO) in 1995. The WTO aimed to facilitate international trade under a multilateral framework and establish a robust dispute-settlement system, reflecting the optimism of that era regarding globalization. There was a prevailing belief that a more interconnected world could promote economic prosperity and development. However, this optimism was tested as most financial crises since the 1990s occurred outside G7 countries, including the Asian Financial Crisis in 1997, the Argentine Economic Crisis between 1999 and 2002, and the Turkish Financial Crisis in 2001. In recent years, too, a deglobalization trend has emerged, reversing some of the progress of integration that was achieved in the post-Cold War era. This trend is evidenced by the increasing imposition of economic sanctions, a rise in protectionism, ongoing trade disputes, and heightened geopolitical tensions.

Balancing International Trade and Climate Justice: Legal Perspectives on the EU’s Deforestation Regulation

Forests play a crucial role as natural carbon sinks and protectors of biodiversity. According to the Food and Agriculture Organization (FAO) of the United Nations, the world lost approximately 4.2 million square kilometers of forest between 1990 and 2020 – an area nearly twice the size of Saudi Arabia. Agricultural expansion drives almost 90% of global deforestation, with more than half of the forest loss attributed to the conversion of forests into cropland and livestock grazing. This staggering deforestation not only diminishes the planet’s ability to sequester carbon, exacerbating climate change, but also threatens the rich biodiversity that forests support.

Geothermal – Saudi Arabia’s Next Energy Vector?

For decades, Saudi Arabia’s power sector has heavily relied on hydrocarbons for electricity generation. Their abundant supply, affordability, and differential performance have made them a top choice. A significant portion of this electricity provides power for air conditioning systems and water desalination plants.

Gaming Out the Proposed Price Cap on Russian Oil

In a June 29, 2022, communique, the G7 countries agreed to explore ways to impose a price cap on Russian oil exports. The main mechanism would be a ban on the provision of insurance, logistics and financial services by G7 nations for cargoes sold above the price ceiling. While there are some workarounds, the oil market is overwhelmingly served by G7 service providers, which could create a significant impediment to Russian exports. The G7 accounts for about 30% of the world’s total oil consumption and has called on other countries to join this multilateral effort with the hope of bringing the Russian-Ukraine conflict to a peaceful resolution. While regulating Russian exports would impact all members of the G7 and the rest of the world, the European Union (EU) was by far the largest market for Russian energy before the current crisis, and their energy systems are designed for Russian grades, making it difficult to replace.

How Long Will the Semiconductor Crisis Affect the Traditional Automotive Sector? Implications for car fuel demand

The 2020 semiconductor crisis has hit the automotive sector, as well as many other sectors. As a consequence of the COVID-19-induced shock, a worldwide semiconductor supply-demand imbalance arose between 2020 and 2022. Demand grew by around 17% annually while manufacturing capacity grew by only 6% annually (Figure 1). However, this supply-demand gap was not uniform across all semiconductor applications. For instance, during the early months of the COVID-19 pandemic (i.e., the first half of 2020), car demand plummeted by as much as 80% in Europe, 70% in China, and over 50% in the United States (U.S.).

World’s First Blue Ammonia Shipment Signals Prospective New Low-Carbon Energy Trade for Saudi Arabia

On September 27, 2020, Saudi Aramco successfully exported the world’s first shipment of carbon-neutral ammonia to Japan, helping to fuel the nascent Japanese hydrogen economy. This pilot shipment of 40 tonnes is an important realization of the hydrogen economy for both the Kingdom of Saudi Arabia and Japan. It also signals a potentially important addition to the Kingdom’s export commodity portfolio. 

The Prospect of Unconventional Gas Development in Saudi Arabia

In February 2020, Saudi Aramco announced that it obtained regulatory approval to develop the Jafurah Basin, Saudi Arabia’s largest unconventional natural gas field (Figure 1). Situated east of the giant Ghawar oilfield, it contains 200 trillion cubic feet (tcf) of gas resources.

U.S.-Iran Tensions and the Waiver Renewal for Iranian Gas Exports to Iraq

Following the assassination of Iranian General Qasem Soleimani in Baghdad on January 3, as a result of a United States (U.S.) airstrike, the Iraqi Parliament passed a resolution stating that it “must work to end the presence of any foreign troops on Iraqi soil and prohibit them from using its land, airspace or water for any reason.”

Phantom Oil Movements: An Investigation into Opaque Ship- to-Ship Operations and Their Role in Sanction Evasion

The transportation and distribution of large volumes of oil, gas, and refined products over long distances are enabled primarily by marine shipping. Transborder pipelines serve as an additional method for transporting oil and gas. However, these pipelines are typically more expensive than marine shipping and frequently become subjects of geopolitical tension. Oil tankers constitute a critical phase in the global oil trade. In 2023, approximately 8,976 vessels were on the water and were estimated to be carrying 34.2 billion barrels of crude oil, condensates, and refined oil products according to Vortexa (2024). Most of these barrels were delivered to buyers; however, a few were held as floating storage, waiting for buyers to purchase, or used to hedge by trading firms.

The New Oil Market Multiverse: Physical Commodity Swaps as Instruments for Circumventing Sanctions and Their Implications for the Global Economy

From the global pandemic to the aftershocks of the COVID-19 pandemic and the war in Ukraine, the past few years have witnessed a reordering of global trade flows, most dramatically in the energy sector. Less obviously, these shifts have also precipitated an emerging trend toward alternative forms of commerce operating outside the customary channels of the global financial system. Such alternatives include local currency settlements and physical commodity swaps. Although such instruments are nothing new, their use by state actors as a way to circumvent both sanctions and the dominance of the U.S. dollar has implications that warrant careful study.

Digital Transformation in the Oil and Gas Industry: Hype or Hope?

For decades, the oil and gas (O&G) industry has provided the globe with the best value proposition in the form of reliable, affordable, and safe energy supplies. As global population projections soar, demand for all forms of energy is also set to rise, with hydrocarbons expected to play a dominant role in the energy mix for the foreseeable future. However, current global greenhouse gas (GHG) targets and today’s definition of clean energy highlights the opportunity for emissions management and creates an economic incentive for producers and consumers to decarbonize, each playing a critical role in the energy transition.

Integrated Oil Companies and the Requiem for a Transition: How Are They Coping with Climate Change?

Integrated oil and gas (O&G) companies operate vertically integrated businesses that span the O&G value chain. In this way, they can leverage expertise across multiple domains rather than just focusing on exploration and production (E&P). Examples of such companies include British Petroleum (BP), Cenovus Energy, Chevron, Eni, Imperial Oil, ExxonMobil, Repsol, Royal Dutch Shell, Suncor Energy and TotalEnergies. Integrated O&G companies played a central role in advancing energy availability and economic growth during the 20th century.

Implications of the 2021 Iran-China Deal for the Oil Market

In late March 2021, China and Iran signed a cooperation pact to stimulate investments in Iran’s oil, gas and petrochemical infrastructure. We refer to this pact as the ‘Iran-China deal’ throughout this manuscript. This deal attracted substantial attention for its effects on global oil markets and the geopolitics of the region. Reports suggest that China may invest as much as $400 billion in Iran’s infrastructure and oil sector over 25 years owing to the deal. In exchange, Iran will supply oil to China at below-market prices.

Saudi Arabia’s Gas Flaring Mitigation Experience

Gas is envisaged as the fuel of choice in the power sector and is the ideal fuel to help transition toward clean, sustainable, and affordable energy access. As vital as gas is for electricity generation, the petrochemical industry, the transportation sector, and heating, many oil operators either flare or vent associated gas, a by-product of oil extraction, at the wellhead or gathering stations. This releases greenhouse gases (GHGs) into the atmosphere and is done for various reasons, including infrastructure constraints, a lack of financial incentives to capture and process gas, poor regulatory frameworks, or binding contractual rights.

Contextualizing Uncontrolled Oil Trade Flows: A Novel Categorization

Science Direct

Reframing of Global Strategies and Regional Cooperation Pathways for an Inclusive Net-Zero Strategy in the Energy Transition Framework

Fit-For-Purpose Energy Transition Strategies: Case Studies from G20 Members

T20