B2B drives market demand, with B2B spending representing 100% of total demand in 2022. Saudi Arabia has the second largest market size for extraction of crude petroleum and natural gas regionally, with demand reaching USD56.0 billion in 2022. Saudi Aramco is the largest company in Saudi Arabia, generating 50.0% of the industry’s total production value in 2022. The industry is concentrated, with the top four companies generating 50.8% of total production value in 2022. The total number of companies increases in 2022, to 82 units. The costs of the industry increase by 24.3% in 2022, largely driven by rising labour costs. The industry’s profitability decreases and stands at 86.3% of production value in 2022, the highest regionally. The industry’s exports share increases in 2022 to 84.3% of total production output. With production value of USD373 billion, Saudi Arabia accounts for 33.7% of the Middle East and North Africa total in 2022.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in Saudi Arabia: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in Saudi Arabia: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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