B2B drives market demand, with B2B spending representing 100.0% of total demand in 2023. Saudi Arabia has the largest market size for extraction of crude petroleum and natural gas regionally, with demand reaching USD103 billion in 2023. Saudi Aramco is the largest company in Saudi Arabia, generating 49.2% of the industry’s total production value in 2023. The industry is fragmented, with the top four companies generating 50.0% of total production value in 2023. The total number of companies decreases in 2023, to 80 units. The costs of the industry decrease by 21.2% in 2023, largely driven by declining labour costs. The industry’s profitability increases and stands at 79.4% of production value in 2023, the sixth highest regionally. The industry’s exports share decreases in 2023 to 71.0% of total production output. With production value of USD386 billion, Saudi Arabia accounts for 31.5% of the Middle East and North Africa total in 2023.
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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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