NPR

Saudi Arabia's Ambitious Economic Overhaul Hinges On Reducing Its Oil 'Addiction'

The government has ambitious plans to diversify the oil kingdom — and that means revamping the world's biggest petroleum producer.
Flames are seen at the production facility of Saudi Aramco's Shaybah oilfield in May. Source: Ahmed Jadallah

Saudi Aramco, Saudi Arabia's state oil company, is often described as the kingdom's crown jewel.

It produces more oil than any other company in the world, supplying the world with a steady supply of crude and providing the kingdom with revenues that make up more than 80 percent of the national budget.

Now, with concerns about the impacts and supply of fossil fuels and a slump in oil prices since 2014, Aramco is at the center of an ambitious plan to diversify Saudi Arabia's oil-dependent economy, which means the company is having to shift the way it

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