Saudi Arabia’s Long-Term Petroleum Products Industry SWOT Analysis (Essay Sample)

Saudi Arabia’s Long-Term Petroleum Products Industry SWOT Analysis
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Saudi Arabia’s Long-Term Petroleum Products Industry SWOT Analysis
The study will discuss a SWOT analysis of the current scenario of Saudi Arabia’s petroleum industry to contextualize the outcomes in an integrated and systematic manner. The first strength is lower production costs. In addition to having the production capability, this sector has continuously enjoyed various internal strengths relating to management, infrastructure, and production. Compared to other countries that produce oil across the globe, Saudi Arabia’s industry enjoys a lower petrochemicals production cost. The primary contributor to this factor is the readily available petrochemical production resources in the country. Apart from the availability of the resources, advancement in innovation and technology and motivated workforce in the sector has contributed significantly towards the reduction of production costs. The country also has one of the largest reserves, which enables it to generate more oil barrels.