Saudi Arabia could become oil importer by 2030

[✡ Hindu Zionist ॐ]

DUBAI: Saudi Arabia, the world's largest oil producer at 11.1 million barrels per day and exporter of 7.7 mbpd, could become an oil importer by 2030, a Citigroup report has said.

The country consumes 25 per cent of its production. According to the report, the country's energy consumption per capita exceeds that of most industrial nations.

Saudi Arabia's oil and its derivatives account for 50 per cent of its electricity production, used mostly (less than 50 per cent) for residential use. Peak power demand is growing by around 8 per cent per year.

"Our analysis shows that if nothing changes Saudi may have no available oil for export by 2030," said the report, adding that it ran the risk of becoming oil importer.

The country already consumes all its gas production, 9.6 billion cubic feet (ft3) per day of natural gas, all of which is entirely consumed domestically.

The country is looking to raise gas production to 15.5 billion ft3/day by 2015, implying a 2011-15 CAGR of 12.7 per cent. However, peak power demand is growing at almost 8 per cent per annum.

"We believe Saudi Arabia will need to find new sources to meet residential and industrial demand," it said.

As per the report, implications for the global petrochemical market point to potential feedstock restrictions for Saudi petrochemicals given the priority of residential demand.

http://timesofindia.indiatimes.com/business/international-business/Saudi-Arabia-could-become-oil-importer-by-2030-Citigroup/articleshow/16282534.cms

[Israel Chai]

According to the christian prophesy, Saudi Arabia's oil (the wine that made other nations wealthy) runs dry. I say if it takes an hour to destroy them, it'll be an hour too long.

[syyuge]

Loo ke Garam jhonko ke beech ye khabar ek sheetal bayar ki tarah hai. (During the blows of hot airs blasts, this news is like a wave of soothing cold air).

[Meerkat]

can't wait till we no longer need oil!

[TruthSpreader]

Does this mean Saudi Arabia will run out of oil?

[Khan Krum]

Thank G-d. Then the liberal controlled pro-Arab oil corporations which fund Obongo will run out and they won't have any control!! Nobody worry, there is reusable energy (which the liberals lie that they support even though they are supporting the oil companies) and they can't stop us from using it any more!

[Israel Chai]

Does this mean Saudi Arabia will run out of oil?

No, it means unless they stop burning it for electricity, they won't have enough to sell it any more.

[TruthSpreader]

No, it means unless they stop burning it for electricity, they won't have enough to sell it any more.

And this is a good thing? I hope it happens.

[Khan Krum]

I see the original prophecy I posted of coming, pisslam will retreat, the Arabs will be forced from Israel, and the stolen countries like Syria and Lebanon which belong to Christians, then Persians and Berbers and Turks leave pisslam, then Arabian Peninsula becomes walled so Arabs can't invade or steal land again, and it will be an Arab zoo. But first, let's not go ahead too far. When Israel destroys Iran's nuke plans, Hezbollah will strike at Israel like never before, then Israel will invade Lebanon. If Bibi and the government traitors don't get serious there will be a nationalist coup, which I know will happen across Europe as the pisslam-demic spreads, then Israel must get ready to ally with the Lebanese Christian nationalists again, this time to help them conquer the entire country, no turning back. Then the Arab invaders will be force from the stolen lands.

[Aces High]

Loo ke Garam jhonko ke beech ye khabar ek sheetal bayar ki tarah hai. (During the blows of hot airs blasts, this news is like a wave of soothing cold air).

I always like your writing style.  Top notch!

[IsraelForever]

Gee, I hope by 2030 we come up with an alternative substitution to oil. 

[syyuge]

Loo ke Garam jhonko ke beech ye khabar ek sheetal bayar ki tarah hai. (During the blows of hot airs blasts, this news is like a wave of soothing cold air).

I always like your writing style.  Top notch!

Many Thanx!

[TruthSpreader]

Gee, I hope by 2030 we come up with an alternative substitution to oil.

I would like that to happen sooner than that I'd hope.

[serbian army]

This is a bad news for all of us. Think about energy crises? We are 20 years behind on alternative energy technology. We are going to produce food like our ancestors 1000 years ago...

[cjd]

DUBAI: Saudi Arabia, the world's largest oil producer at 11.1 million barrels per day and exporter of 7.7 mbpd, could become an oil importer by 2030, a Citigroup report has said.

The country consumes 25 per cent of its production. According to the report, the country's energy consumption per capita exceeds that of most industrial nations.

Saudi Arabia's oil and its derivatives account for 50 per cent of its electricity production, used mostly (less than 50 per cent) for residential use. Peak power demand is growing by around 8 per cent per year.

"Our analysis shows that if nothing changes Saudi may have no available oil for export by 2030," said the report, adding that it ran the risk of becoming oil importer.

The country already consumes all its gas production, 9.6 billion cubic feet (ft3) per day of natural gas, all of which is entirely consumed domestically.

The country is looking to raise gas production to 15.5 billion ft3/day by 2015, implying a 2011-15 CAGR of 12.7 per cent. However, peak power demand is growing at almost 8 per cent per annum.

"We believe Saudi Arabia will need to find new sources to meet residential and industrial demand," it said.

As per the report, implications for the global petrochemical market point to potential feedstock restrictions for Saudi petrochemicals given the priority of residential demand.

http://timesofindia.indiatimes.com/business/international-business/Saudi-Arabia-could-become-oil-importer-by-2030-Citigroup/articleshow/16282534.cms

This is the sort of article thats put out  in order to spin some peoples wheels... What most countries buy from Saudi Arabia is crude oil not a finished product.... It might be possible in time to come for the Saudi's to need outside capacity for refined oil however the amount of crude oil under their feet is almost an endless amount in the time frame spoken of in this article...  Another crazy thing in the article is the idea that power demands will continue to increase 8% each year.... I am sure that that when domestic oil consumption gets to the point that its cutting into the profits things will change very quickly bringing increased demand to a rapid halt...  In my opinion what the article is trying to pan off  is a joke.

[realist26]

Even if the growth assumptions in the report are correct, some smart American will find a way to economically  drill deeper or more efficiently and extend the life of their reserves