Saudi Arabian Hydro-Carbons and World Affairs

Contents

Foreword 7

Introduction 13

Part i

King Abd al-Aziz Al-Sa‘ud 33
Saudi Arabia and Oil: The Beginnings 37
Saudi Arabian Monarchs since 1953 and their Activities 41
Saudi Oil Production since 1949 47
World Politics and Oil Prices 51
Focus on Saudi Arabian Oil Production 57
The Emergence of Saudi Aramco 65
Developments at Saudi Aramco, 1988 to 2008, and 2009 71
Foreign Participation in Gas Exploration in Saudi Arabia 81
Classification of Saudi Arabian Crude Oils 83
Worldwide Consumption of Petroleum Products 85
Political Stability and Continuity in Saudi Arabia 89

Part ii

Geo-Politics and Highlights of Economic and Energy Trends 97
Energy Geo-Politics: The Arrival of G20 107
World Leaders in Hydrocarbon Reserves and Implications for the EU 125
GDP of the Leading Economies Worldwide 129
World Consumption of Primary Energy in 2007 139
World Oil and Gas Reserves 151
Crude Oil Proved Reserves as at End 2007 169
World Oil Production 1965–2007: Saudi Arabian and OPEC Share 185
World Oil Consumption/Demand 1973–2008 191
Net Oil Importing and Exporting Countries in 2008 203
The Concentration of World Gas Reserves at End 2007 211
The ‘Lost Decade’ in the Former Soviet Union 231
China: The Emerging Colossus 233
OPEC: Justification and Rationale 243

Part iii

Introduction to Retrospective View of Energy: A Global Outlook 251
Review of Part 1 of the Book 255
Political and Economic Issues 283
Review of Energy Scenarios 287
Regional Analysis 313

Part iv

Population Statistics and Projections from the United Nations 353
Effects of the Financial Crisis and Economic Recession of 2008–9 359
OPEC World Oil Outlook 2009 371
The IEA’s World Energy Outlooks of 2009 and 2008 393
US DO E/Energy Information Administration’s International Energy Outlook 2010 421
A Comparison of Projections from OPEC, IEA and US DO E/EIA 416

Part v

Conclusions 487
Notes 509