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Fig. 1 – HPI facilities in Saudi
Arabia, including refineries,
petrochemical complexes,
and ports and terminals
supplies while building a more robust and resilient estimated remaining reserve of 75 Bbbl, has
portfolio to withstand market turbulence. Top-tier more proved oil reserves than all but seven other
refining companies are investing significantly to countries, according to the US Energy Information
secure the region’s position as the hub of the global Administration [3]. Saudi Arabia is the largest
downstream industry (figure 1). exporter of total petroleum liquids in the world -
and the second-largest petroleum exporter to the
World and ME oil demand US - and it maintains the world’s largest crude oil
production capacity.
In 2014, world oil demand grew by just under 1 Of Saudi Arabia’s total crude oil production
MMbpd to average 91.2 MMbpd. World oil demand capacity, more than 70% is considered light
in 2015 is anticipated to rise by 1.17 MMbpd gravity, which is generally produced onshore, with
to average 92.37 MMbpd. Correspondingly, oil the remaining crude considered to be medium
demand growth for the ME in 2014 was 250 Mbpd, or heavy gravity, mainly from offshore fields. The
while 2015 oil demand is projected to increase by country is moving to reduce its share of the latter
280 Mbpd over 2014 levels. Most of this growth two grades. Most Saudi oil production, except for
shown in figure 2 is expected to come from Saudi extra-light and super-light crude oil, is considered
Arabia, with a forecast increase of 150 Mbpd, or sour, as it contains relatively high levels of sulfur (S).
more than half of the region’s expected growth [1]. The region’s petrochemical capacity is expected to
rise from 127 MMtpy in 2012 to over 145 MMtpy by
Saudi Arabia 2018 [2]. However, natural gas feedstock restraints
will propose hurdles to capacity expansion plans.
Saudi Arabia holds 16% of the world’s proved oil Saudi Arabia has the world’s fifth-largest natural
reserves, more than half of which are contained gas reserves, but most natural gas fields in Saudi
in eight fields. The giant Ghawar field, with an Arabia are associated with petroleum deposits, and
Fig. 2 – Oil demand growth in the ME, year-on-year, 2012-2014 increases in gas production remain
linked to oil production increases.
To minimize the use of crude oil for
power generation, gas supplies
remain reserved for domestic use.
The petrochemical industry, among
others that use gas-fired power
generation, is contributing to a
looming regional gas shortage by
2016. This is especially vital because
the country plans to increase its
electricity generating capacity to
120 GW by 2032 to meet demand.
However, natural gas production
remains limited, as the costs of
natural gas production, exploration,
processing and distribution have
squeezed supply [3].
28 Impiantistica Italiana - Luglio-Agosto 2015
