Controversial Saudi strategies to boost oil demand

A report reveals Saudi Arabia's tactics to artificially boost global oil demand, just ahead of COP28.

Share:

Stratégies pétrolières saoudiennes

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Saudi Arabia, known as the world’s leading oil exporter, has recently been in the spotlight following the publication of an explosive report. The report, released by Channel 4 and the Center for Climate Reporting, highlights the kingdom’s complex strategy to increase oil consumption worldwide.

Oil Demand Sustainability Program (ODSP)

Launched in 2020, the ODSP officially aims to integrate hydrocarbons “efficiently and sustainably” into the global energy mix. However, the report accuses the program of actively promoting the use of oil-powered vehicles in Asia and Africa, as well as supporting fuel-intensive supersonic air transport.

Controversial objectives

The report suggests that the ODSP not only seeks to maintain the position of hydrocarbons, but also to artificially stimulate their demand, particularly in the key markets of Asia and Africa. The aim of this strategy would be to protect Saudi oil revenues from global initiatives to reduce dependence on fossil fuels.

Dissonance in the Climate Discourse

This revelation comes at a delicate time, just a few days before the start of COP28 in Dubai. In 2021, Saudi Arabia pledged to achieve carbon neutrality by 2060, a commitment greeted with skepticism by environmental organizations. The report highlights a striking dissonance between the kingdom’s public declarations and its concrete actions.

COP28: A Platform for Debate

COP28, to be held in Dubai, is already the subject of criticism, not least because of the appointment of the CEO of the oil company Adnoc as conference chairman. Nevertheless, some experts see the meeting as a unique opportunity to address the issue of fossil fuels in the context of climate change.

The report raises crucial questions about the sincerity of Saudi Arabia’s climate commitments, as the world turns its attention to environmental challenges at COP28.

The United States strengthens its energy presence in the Eastern Mediterranean by consolidating a gas corridor through Greece to Central Europe, to the detriment of Russian flows and Chinese logistical influence over the Port of Piraeus.
Paris and Beijing agree to create a bilateral climate task force focused on nuclear technologies, renewable energy and maritime sectors, amid escalating trade tensions between China and the European Union.
Ankara plans to invest in US gas production to secure LNG supply and become a key supplier to Southern Europe, according to the Turkish Energy Minister.
Three Russian tankers targeted off the Turkish coast have reignited Ankara’s concerns about oil and gas supply security in the Black Sea and the vulnerability of its subsea infrastructure.
Bucharest authorises an exceptional takeover of Lukoil’s local assets to avoid a supply shock while complying with international sanctions. Three buyers are already in advanced talks.
European governments want to add review and safeguard mechanisms to the trade deal with Washington to prevent a potential surge of US imports from disrupting their industrial base.
The Khor Mor gas field, operated by Pearl Petroleum, was hit by an armed drone, halting production and causing power outages affecting 80% of Kurdistan’s electricity capacity.
Global South Utilities is investing $1 billion in new solar, wind and storage projects to strengthen Yemen's energy capacity and expand its regional influence.
British International Investment and FirstRand partner to finance the decarbonisation of African companies through a facility focused on supporting high-emission sectors.
Budapest moves to secure Serbian oil supply, threatened by Croatia’s suspension of crude flows following US sanctions on the Russian-controlled NIS refinery.
Moscow says it wants to increase oil and liquefied natural gas exports to Beijing, while consolidating bilateral cooperation amid US sanctions targeting Russian producers.
The European Investment Bank is mobilising €2bn in financing backed by the European Commission for energy projects in Africa, with a strategic objective rooted in the European Union’s energy diplomacy.
Russia faces a structural decline in energy revenues as strengthened sanctions against Rosneft and Lukoil disrupt trade flows and deepen the federal budget deficit.
Washington imposes new sanctions targeting vessels, shipowners and intermediaries in Asia, increasing the regulatory risk of Iranian oil trade and redefining maritime compliance in the region.
OFAC’s licence for Paks II circumvents sanctions on Rosatom in exchange for US technological involvement, reshaping the balance of interests between Moscow, Budapest and Washington.
Finland, Estonia, Hungary and Czechia are multiplying bilateral initiatives in Africa to capture strategic energy and mining projects under the European Global Gateway programme.
The Brazilian president calls for a voluntary and non-binding energy transition during COP30 in Belém, avoiding direct confrontation with oil-producing countries.
The region attracted only a small share of global capital allocated to renewables in 2024, despite high energy needs and ambitious development goals, according to a report published in November.
The United States approves South Korea’s development of civilian uranium enrichment capabilities and supports a nuclear-powered submarine project, expanding a strategic partnership already linked to a major trade agreement.
The EU member states agree to prioritise a loan mechanism backed by immobilised Russian assets to finance aid to Ukraine, reducing national budgetary impact while ensuring enhanced funding capacity.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.