G20 SUBSIDIES FOR OIL, GAS AND COAL PRODUCTION: SAUDI ARABIA

This data sheet is a background paper to the report Empty promises: G20 subsidies to oil, gas and coal production by Oil Cha
Overseas Development Institute (ODI). It builds on the research completed for the report The fossil fuel bailout: G20 subsidies
published in 2014.

For the purpose of this report, production subsidies for fossil fuels include: national subsidies, investment by state-owned
finance. The full report provides a detailed discussion of technical and transparency issues in identifying fossil product
methodology used in this desk-based study. In addition, a brief outline of the methodology used in this report is also in th

The authors welcome feedback on the full report, on the country study, and on this data sheet to improve the accuracy and tran
government support to fossil fuel production.

Read the full report: http://odi.org/empty-promises

Read the Saudi Arabia country study: http://www.odi.org/publications/10082-g20-subsidies-oil-gas-coal-production-

Contents:
National subsidies
SOE investment
Public finance (summary)
Public finance (domestic - full)
Public finance (international - full)
National subsidies (million USD - except where otherwise indicated)

Estimated
Targeted
annual
Subsidy Subsidy type energy 2013 estimate 2014 estimate
amount,
source
million USD
Tax expenditure
None identified
Direct spending (including on infrastructure)
Not
Net change in Gross quantifiable -
Direct
Fixed Capital Formation Oil and gas included in 15088 no data
investment
for Oil Sector SOE
expenditure
Investment in R&D Direct not not
Oil and gas na
Institutes investment quantifiable quantifiable
Investments in Port Direct not not
Oil and gas na
Authority investment quantifiable quantifiable

Investment in Geological Direct not not

Oil and gas na
Survey Authority investment quantifiable quantifiable

Other support mechanisms

None identified
Total National Subsidies na
Stage: Source

Cross-cutting http://www.sama.gov.sa/en-US/EconomicReports/Pages/YearlyStatistics.aspx

Cross-cutting http://www.sama.gov.sa/en-US/EconomicReports/Pages/YearlyStatistics.aspx

Cross-cutting http://www.sama.gov.sa/en-US/EconomicReports/Pages/YearlyStatistics.aspx

Cross-cutting http://www.sama.gov.sa/en-US/EconomicReports/Pages/YearlyStatistics.aspx
SOE Investment (USD million - except where otherwise indicated)

Name of SOE Project / investment Description

Saudi Aramco Investment Total material and contract pr

Saudi Electric Company Rabigh-1, Mecca 1.2 GW plant.
Saudi Electric Company Riyadh-11, Darma, Riya1.7 GW plant.
Saudi Electric Company Qurayyah, Eastern Prov3.9 GW plant.
Saudi Electric Company Rabigh-2, Mecca 2.1 GW plant.
Saudi Electric Company/Saudi Aramco Fadhili 1.4 GW plant.
Saudi Electric Company/Saudi Aramco Jazan 3.8 GW plant.
Total (USD)
 Fossil fuel sector Investment ($ millions)
2013 2014 Average
oil and gas 41,443 48,047 44,745
oil and gas (electricity) na na
oil and gas (electricity) na na
oil and gas (electricity) na na
oil and gas (electricity) na na
oil and gas (electricity) na na
oil and gas (electricity) na na
44,745
Public finance summary (USD million - except where otherwise indicated)

Oil and gas

Total fossil
Coal fired Upstream oil pipelines,
Institution name Coal mining fuel finance
power and gas power plants
2013 & 2014
and refineries

Domestic
Ministry of Finance 0 0 0 13200 13200
National Commercial Bank 0 0 0 492 492
Public Investment Fund 0 0 0 206 206
Subtotal domestic 0 0 0 13898 13898
International
National Commercial Bank 0 0 0 168 168
Saudi Fund for Development 0 0 0 96 96
Multilateral Development Bank
0.5 14 41 82 138
share
Subtotal international 0.5 14 41 346 402

Totals 2013/2014 0.5 14 41 14244 14300

Annual avg.
fossil fuel
finance

6600
246
103
6949

84
48
69
201

7150
Public finance summary (USD million - except where otherwise indicated)

PF Institution Project Recipient Country

National Commercial Bank
National Commercial Bank
National Commercial Bank
Public Investment Fund
Ministry of Finance
Saudi Aramco and Power CogeneratSaudi Arabia
Rabigh Gas-Fired IPP (2060 MW) Saudi Arabia
SAMREF Clean Fuels Financing Saudi Arabia
Luberef Yanbu Oil Refinery Expansi Saudi Arabia
SEC Electricity Generation Expansi Saudi Arabia
 Description Fossil Fuel Sector Upstream/downstream Stage
The financing will be used for th Natural gas Downstream Electricitry production
Design, finance, construct, commisNatural gas Downstream Electricitry production
Financing for the clean fuels proje Oil Downstream Refining
The financing will be used for the Oil Downstream Refining
Interest free loan from Ministry of Oil and gas Downstream Electricitry production
Total
 Value Period
85000000 2014
296020000 2013
111110000 2013
206200000 2014
13200000000 2014
13898330000
 Source
https://ijglobal.com/data/transaction/29659/saudi-aramco-and-power-cogeneration-plant-876mw
https://ijglobal.com/data/transaction/22884/rabigh-ii-gas-fired-ipp-2060mw
https://ijglobal.com/data/transaction/28126/samref-clean-fuels-financing
https://ijglobal.com/data/transaction/32674/luberef-yanbu-oil-refinery-expansion
http://www.reuters.com/article/2014/03/20/saudielectricity-loans-idUSL6N0MH3U920140320
Public finance international (full) (USD - except where otherwise indicated)

PF Institution Project Recipient Country

National Commercial Bank Sohar Refinery Expansion Oman
Saudi Fund for Development West Diametta Power Station ExpanEgypt
Saudi Fund for Development Al-Shabab Station Expansion to 1 Egypt
 Description Fossil Fuel Sector Upstream/downstream Stage
The financing will be used for the Oil Downstream Refining
250 MW expansion of a simple cyclNatural gas Downstream Electricitry production
500 MW expansion of a natural gas Natural gas Downstream Electricitry production
Total
 Value Period
168000000 2014
38441824.705279 2014
57662737.057919 2014
264104561.7632
 Source
https://ijglobal.com/data/transaction/30221/sohar-refinery-expansion
http://www.sfd.gov.sa/cs/groups/public/documents/document/mdaw/ntex/~edisp/121-document-511209.pdf
http://www.sfd.gov.sa/cs/groups/public/documents/document/mdaw/ntex/~edisp/121-document-511209.pdf

Note: for petrochemicals (not currently included in the total) SFD also provided:
(2013) 562.5 million SR to the Egypt General Petroleum Corporation to finance the export of petroleum derivatives (http://www
(2013) 75 million SR to the National Petrochemical Company of Saudi Arabia plus 203.25 million SR guarantees (http://www.sf

(2014) 86.14 million SR guarantees to the National Petrochemical Company of Saudi Arabia (http://www.sfd.gov.sa/cs/groups/p

(2014) 937.5 million in export finance to Egyptian General Petroleum Corporation (EGPC) for the export of petroleum derivativ

For petrochemicals (not currently included in the total) NCB also provided:
(2013) NatPet Yanbu Petrochemicals facility - $89m – see https://ijglobal.com/data/transaction/28310/natpet-yanbu-petrochem
 ent-511209.pdf
ent-511209.pdf

f petroleum derivatives (http://www.sfd.gov.sa/cs/groups/public/documents/document/mdaw/ndyx/~edisp/121-document-461968.pdf)

million SR guarantees (http://www.sfd.gov.sa/cs/groups/public/documents/document/mdaw/ndyx/~edisp/121-document-461968.pdf)

a (http://www.sfd.gov.sa/cs/groups/public/documents/document/mdaw/ntex/~edisp/121-document-511209.pdf)

or the export of petroleum derivatives (http://www.sfd.gov.sa/cs/groups/public/documents/document/mdaw/ntex/~edisp/121-document-51120

on/28310/natpet-yanbu-petrochemicals-facility-2013]
ocument-461968.pdf)
ument-461968.pdf)

~edisp/121-document-511209.pdf)