Our downstream strategy seeks to enhance the value of our resource base by targeting increased horizontal and vertical integration across the hydrocarbon value chain. The successful execution of our strategy would deliver a world leading, strategically integrated downstream network — one that maximizes the worth of the hydrocarbon molecules we produce — and a robust portfolio that is more resilient to market turbulence.
It is a strategy aligned to the overall intent to become — by 2020 — “the world’s leading integrated energy and chemicals company, focused on maximizing income, facilitating the sustainable and diversified expansion of the Kingdom’s economy, and enabling a globally competitive and vibrant Saudi energy sector.”
To achieve our strategic objectives in the downstream business, we pursue the following key goals:
- Optimally meet the Kingdom’s refined product needs, while building a world-scale global refining system
- Create a top-tier, globally integrated chemicals business
- Increase integration of downstream facilities
- Implement our crude oil placement strategy
- Maximize value creation from power and cogeneration integration opportunities.