Saudi Arabia agrees plans to move away from oil profits

by Guest 25/4/2016, 20:22

The Saudi cabinet has approved sweeping economic reforms aimed at moving the country away from its dependence on oil profits.
Just over 70% of revenues came from oil last year but it has been hit by falling prices.
One part of the plan will see shares sold in state-owned oil giant Aramco to create a sovereign wealth fund.
Announcing the reforms, Deputy Crown Prince Mohammed bin Salman described his country as being addicted to oil.
Saudis react on social media
The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".
Among the reforms he announced in his interview were:

Shares worth less than 5% of Aramco, a company he valued at up to $2.5tn (£1.7tn), will be sold
Some of the proceeds will go towards a sovereign wealth fund worth $2tn
A new visa system will allow expatriate Muslims and Arabs to work long term in Saudi Arabia
Steps will be taken to diversify the economy, including investment in mineral mining and expanding military production
Participation of women in the workforce to increase

Even just selling 1% of Aramco would create the biggest initial public offering in history, the prince said, outstripping blockbuster sales like Facebook and Alibaba.
The IMF called the Saudi plan an "ambitious, far-reaching effort" but warned implementation would be a challenge.

The cost of oil: analysis by Andrew Walker, BBC economics correspondent

Saudi Arabia agrees plans to move away from oil profits _89427928_032633339-1

Image copyrightAPImage captionSaudi Arabia is the world's biggest crude exporter
Oil has made Saudi Arabia a major economic force. But it comes at a cost. The short-term problem is the volatile price of crude oil, which is now less than half what it was in mid-2014. Saudi Arabia has deep pockets.
It will not go running to the International Monetary Fund for financial help, something another oil exporter, Angola, has done. But the Saudi reserves are eroding and with almost three quarters of government revenue coming from oil, the price fall is making itself felt.
For the long term, international efforts to combat climate change create huge uncertainty about demand for oil in the future. Oil will not lose its dominance of the market for transport fuel in the next few years, but further ahead the outlook is unknown.
So Saudi Arabia needs to become less dependent on oil for government revenue and for the jobs and incomes of Saudi nationals.

Oil prices are still less than half the peak of $115 a barrel seen in June 2014. But the prince said the reforms would go ahead regardless of prices.
"The vision has nothing to do with crude prices," he said.
"If the oil price goes back up it would greatly support the vision but it does not need high prices. We can deal with the lowest prices possible."
Saudi Arabia agrees plans to move away from oil profits _89432113_032632457-1

Saudi Arabia agrees plans to move away from oil profits _89432113_032632457-1

Image copyrightReutersImage captionThe powerful and influential Deputy Crown Prince Mohammed bin Salman gave details of the reform plan known as Vision 2030
In an interview with Bloomberg last week, Prince Mohammed said taxes on luxury goods and sugary drinks could also be introduced. However, he said it was crucial that the programme would not leave the country's poor worse off.
The prince is second-in-line to the Saudi throne and also serves as defence minister.
Vast oil revenues have allowed the Saudi government to offer generous subsidies on utilities to its population. But some of these were cut last year in response to falling oil prices.
Over the weekend King Salman sacked the country's water minister amid outrage at rising utility prices.

[size=18]Saudi slump

Even wealthy Saudi Arabia is under pressure from tumbling oil prices, and has announced a series of economic reforms

[size=48]72%
of revenues come from oil
[/size][/size]

$98bn the budget deficit in 2015
80% increase in petrol prices last year in the country
$2.5tn size of state-owned oil giant Aramco
$2tn potential value of the sovereign wealth fund the Saudis are creating

[size][size]
Agencies

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by Guest 25/4/2016, 20:22

http://www.bbc.com/news/world-middle-east-36131391

by Guest 25/4/2016, 20:28

Deda...!!! Raport..!! vid kako su Saudi neuki i glumpavi... jocolor

by Guest 25/4/2016, 20:59

"Every" Saudi five-year plan "since the first one in 1970" has called for diversifying the economy beyond oil, but with marginal success.

As of 2007, manufacturing outside of the petroleum industry contributed 10% to Saudi Arabian GDP and less than 6% of total employment.

by Guest 25/4/2016, 21:02

A budemo vidjeli..uci se i iz promasaja..Kupuju udjele u Zapadnim firmama,korpooracijama,nemoj misliti da debelo ne profitiraju..

by Guest 25/4/2016, 21:06

bogomdani wrote:
The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".

Ovo je ono najbitnije iz članka.

Saudi Arabia agrees plans to move away from oil profits Clip_image012

by Guest 25/4/2016, 21:09

Jemen

Saudi Arabia agrees plans to move away from oil profits Yemen-oil-production-and-consumption

by Guest 25/4/2016, 21:10

deda na aparatima wrote:
bogomdani wrote:
The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".
Ovo je ono najbitnije iz članka.

E sad,prilicno mi djeluje objektivno,ali logika nalaze i takvim likovima,da ne cekaju zadnji trenutak..sve iako budu u konstantnom padu sa domacim biznisom,ostaju im strane investicije u ZUapadnu ekonomiju,i ber ce Saudska obitelj i dalje zivjeti punim plucima..

by Guest 25/4/2016, 21:16

deda na aparatima wrote:Jemen

gle,ako pretpostavimo da su zalihe jos visoke,onda je ovo cisto trzisna politika..nis ne znaci ako se manje proizvodi,odnosno crpi..valjda se frca povisicvanje cijene nafte...
isto kao i panika tijekom sredine 1970tih...

by RayMabus 25/4/2016, 22:04

"Nadamo se da će građani raditi zajedno kako bi dostigli saudijsku 'Viziju 2030'", rekao je kralj Salman u saopćenju javnosti koje je objavljeno putem državne televizije, s tim da će se detalji plana saopćiti nešto kasnije.

Saudijski princ Mohammed bin Salman objavio je da će Kraljevina postati globalna investicijska sila koja će napustiti poziciju najveće izvoznice nafte do godine 2020.

Prema pisanju Business Insidera, plan reformi je priznanje kako bilo koja država koja svoju ekonomiju bazira na energiji može biti uzdrmana vanjskim utjecajima.

"Mislim da ćemo do 2020. moći preživjeti odsustvo nafte. Trebala nam je u prošlosti, ali mislim da ćemo moći živjeti bez nje", rekao je princ Muhammed.

http://www.klix.ba/biznis/mozemo-bez-nje-saudijska-arabija-pred-reformama-jer-ne-zeli-biti-ovisna-o-nafti/160425100

A možete li bez vode ?

Skuplja je tamo voda nego nafta.

SA nema niti jednu rijeku.

Saudi Arabia agrees plans to move away from oil profits Saudi_Arabia_map

Saudi Arabia agrees plans to move away from oil profits Saudi_Arabia_map

Saudijska Arabija je vodeći svjetski izvoznik nafte, koja je ujedno i glavni ekonomski pokretač razvoja države ^[1]. Izvoz nafte čini oko 90% ukupnog izvoza i donosi oko 75% prihoda državnog budžeta, što doprinosi relativnom ekonomskom blagostanju njenih stanovnika ^[2]^[3]. Loša strana velike zavisnosti ekonomije o nafti je nestabilna cijena navedenog energenta na svjetskom tržištu

Saudijska Arabija nema stalnih rijeka ili jezera.

https://bs.wikipedia.org/wiki/Saudijska_Arabija#Geografija

by RayMabus 25/4/2016, 22:07

Ćuj ekipe ....ne treba nam nafta , nakesali smo se para pa ćemo malo ulagat okolo i tako živit ko kraljevi ....sine ćim ostanete bez nafte ima da vas Amerikanci optuže za kršenje ljudckih prava , zavrnu vam te bankoven račune po svijetu , uzmu pare a vi se hebite u toj pustiniji bez iti jedne rijeke i jezera.

Jes baš će vas Amerikanci pustit ovo ono ...........to će bit masovno blokiranje tih računa po svijetu uz optužbu kršenja ljudckih prava , wwehabdije , napali New York tj vi stojite iza toga. .....i to je to.

by Guest 25/4/2016, 22:27

RayMabus wrote:
SA nema niti jednu rijeku.

Ima 28 milijuna stanovnika, to je rijeka ljudi, koja ide u Europu. Slavonija može taman toliko prehraniti.

by Guest 25/4/2016, 22:28

Kad spališ naftu dobiješ CO2 + vodu. Mogu praviti vodu od nafte.

Saudi Arabia agrees plans to move away from oil profits Arabp

by RayMabus 25/4/2016, 22:41

deda na aparatima wrote:
RayMabus wrote:
SA nema niti jednu rijeku.

Ima 28 milijuna stanovnika, to je rijeka ljudi, koja ide u Europu. Slavonija može taman toliko prehraniti.

Njemačka im je bolja .....socijala .....nisu Arapi baš za kopanje krumpira nešto voljni.

by Guest 25/4/2016, 22:43

Saudi Arabia’s massive oil exports are threatened by its demographics and a probable decline in its aging supergiant oil fields.

A new report from the U.K.’s Chatham House (PDF) examines this problem in detail. They conclude that Saudi Arabia’s oil exports will peak around 2020 and, under current policies, decline to zero by 2038. You read that right: decline to zero. This decline will occur due to the dramatic growth in consumption by Saudi Arabia’s rapidly growing population and increases in per capita energy consumption. Saudi domestic consumption of oil is growing at about 7 percent per year, which leads to a doubling of consumption in just ten years.

Saudi Arabia agrees plans to move away from oil profits Saudi-Oil-1_579_270

Saudi Arabia agrees plans to move away from oil profits Saudi-Oil-1_579_270

Saudi Arabia agrees plans to move away from oil profits Saudi-Oil-2_635_288

What will the world do if fully 10 percent of global oil production, and 20 percent of global net oil exports, is consumed by the Saudis rather than exported?

by RayMabus 25/4/2016, 22:56

Imaju wehabdije para da se drže dosta dugo ....bar duže od ostalih.

Pad cijene nafte

Ekonomija Saudijske Arabije je u proteklih 12 mjeseci pretrpjela udar zbog pada cijene nafte, te je prošle godine budžetski deficit iznosio 98 milijardi dolara, a procjenjuje se da će ovogodišnji deficit iznositi 87 milijardi dolara.

Rezerve te zemlje su se smanjile sa 746 milijardi dolara, koliko je iznosila vrijednosti rezervi 2014. godine, na 616 milijardi ove godine.

"Oni su i ranije najavljivali ovakve promjene. Bit će veoma interesantno pratiti implementaciju novih pravila", rekao je za Al Jazeeru Ahmed al-Ibrahim, stručnjak za saudijska pitanja i sigurnost.

"Kako bi implementirali neka od ovih pravila, potrebna je saradnja društva. Primjera radi, ako želite da osnažite žene, morate liberalizirati vaše društvo", rekao je on.

"Na toliko mnogo načina saudijsko društvo mora pomoći Vladi kako bi uspjele reforme Vision 2030".

Saudijska Arabija ima dokazane rezerve nafte od 267 milijardi barela, te potencijalne rezerve od gotovo 900 milijardi barela.

http://balkans.aljazeera.net/vijesti/s-arabija-osniva-najveci-svjetski-investicioni-fond

by Guest 25/4/2016, 23:00

RayMabus wrote:Imaju wehabdije para da se drže dosta dugo ....bar duže od ostalih.

Kakve veze ima to što imaju novac kad nema nafte ni vode?
Možeš imati novca koliko god želiš no to je nebitno, jer ne možeš kupiti nešto čega nema.

by RayMabus 25/4/2016, 23:01

Kako nema nafte ?

Pa imaju nafte ko u priči.

by RayMabus 25/4/2016, 23:06

Imaju 27 puta više nafte od Alžira pa bi po toj nekoj logici Alžir trebao doživiti krah 27 puta prije nego li SA napravi i taj jedan.

https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves

Graphical depiction of the country's exports in 28 colour-coded categories.

https://en.wikipedia.org/wiki/Algeria#Economy

by Guest 25/4/2016, 23:06

RayMabus wrote:Kako nema nafte ?
Pa imaju nafte ko u priči.

Nemaju ko u priči, to je bajka.

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Saudi Arabia agrees plans to move away from oil profits