The country has the chance to change direction, open up, and win the investment that would transform its natural and human resources into the economic engine needed. It just needs the will.
Old fields could produce 400,000 barrels of oil per day within a year and there are some large natural gas reserves to exploit, but investment is needed to make the most of the opportunity.
Promising new discoveries, big new deals on gas, and a successful second public share offering is shaping one of the world's biggest companies to beat its own high expectations.
Streamlining the public sector, enhancing the role of the private sector, and reviewing financial policies away from sovereign funds are just some of the reforms needed. Time is running out.
A US-Israeli attack on Iran has turned into a regional war, sending Brent crude prices over $100 a barrel, and throwing shipping, inflation, and monetary policy into turmoil
The current conflict is unlikely to go global for now, but the speed at which it has spread regionally is alarming. A look at history shows the geopolitical factors that led to world wars.
Riyadh and Cairo are trying to ease the acute oil shortfall through alternative pipelines, but these are just band-aid solutions, as the world's most vital energy corridor remains closed by Iran
The rushed 2025 rollout raised questions about the government's seriousness. Since then, no meaningful record has been published, fuelling fears that it was just a show.