Arab News: Future of Saudi petroleum sector

Concerns are being raised about Saudi Arabia’s leadership in the petroleum sector in the context of reports of shale gas and oil resources coming from certain countries.

It was mentioned in some quarters that the recent discovery of North American shale gas and oil, especially in the United States, would likely have an impact on the Saudi petrochemical sector.

But the impact of global developments, most notably the North American unconventional hydrocarbons story, is still to be determined, albeit the technology needed to extract it efficiently and profitably, which is still in preliminary stages.

There are no two opinions that the Saudi petrochemical sector remains well positioned regionally and is driven globally by a positive demand outlook. After all, the petrochemical theme is an important and highly necessary element of Saudi Arabia's economic diversification.
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