{"id":377375,"date":"2020-10-08T11:22:16","date_gmt":"2020-10-08T05:52:16","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=377375"},"modified":"2020-10-08T11:22:16","modified_gmt":"2020-10-08T05:52:16","slug":"sole-survivor-saudi-arabia-doubles-down-on-oil-to-outlast-rivals","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/sole-survivor-saudi-arabia-doubles-down-on-oil-to-outlast-rivals\/","title":{"rendered":"Sole survivor? Saudi Arabia doubles down on oil to outlast rivals"},"content":{"rendered":"<p>The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come.<\/p>\n<p>But Saudi Aramco plans to boost its production capacity so it can pump as much of the kingdom&#8217;s vast oil reserves when demand picks up &#8211; before a shift to cleaner energy makes crude all but worthless, industry sources and analysts told Reuters.<\/p>\n<p>With almost 20% of the world&#8217;s proven reserves and production costs of just $4 a barrel, Aramco believes it can undercut competitors and carry on making money even when lower oil prices make it unprofitable for rivals, the sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it can pump as much of the kingdom&#8217;s vast oil reserves when demand picks up &#8211; before a shift to cleaner energy makes crude all but worthless, industry sources and analysts told Reuters. With almost 20% of the world&#8217;s proven reserves and production costs of just $4 a barrel, Aramco believes it can undercut competitors [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-377375","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=377375"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377375\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=377375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=377375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=377375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}