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Tuesday, November 14, 2023

Saudi Arabia: Future of megaprojects amid low oil pricesnote

Saudi Aramco has recorded a fall in the profits of Q3 2023 due to lower oil prices and voluntary cuts leading to fewer oil volumes sold.

Although this might not be alarming, the Kingdom believes that if oil prices continue to fall to a certain level, the policy regarding ongoing and upcoming projects might change.

This note provides a comprehensive overview of the following key aspects:

- MBS views on Aramco’s decreasing profits

- The oil price mark that would leave megaprojects vulnerable

- The Saudi plans in this case

The note also highlights MBS’ expectations of the current and short-term situation of the Saudi private sector.


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