Oil Route of Saudi Arabia: From Discovery to Vision 2030

• Номер работы:
  1590857
• Раздел:
  Все работы   →   Рефераты и реферативные задания   →   Английский язык
• Год добавления:
  29.08.2025 г.
• Объем работы:
  22 стр.
• Содержание:
  Introduction 3
  1. The discovery of oil, 1930–1940 5
  2. The peak of oil production and the economic boom of 1970-1980 8
  3. The realization that there is not enough oil, 1990-2000 10
  4. A new way 14
  Conclusion 18
  
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  Некоторые тезисы из работы по теме Oil Route of Saudi Arabia: From Discovery to Vision 2030
  Introduction
  
  The oil history of Saudi Arabia reflects the transformation of the state from a traditional society into a global economic center. The discovery of large oil fields in the middle of the 20th century became not only the foundation of economic growth, but also a source of sustained dependence on raw material incomes, which formed the social structure, public administration system, and international relations of the county. The current importance of the oil factor is reflected in the need to rethink previous development models and find ways to form a diversified economy capable of resisting the volatility of global energy markets.
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  1. The discovery of oil, 1930–1940
  
  The economy of the Arabian Peninsula in the first third of the 20th century was characterized by a combination of archaic forms of management and limited sources of government revenue. Income was generated mainly through subsistence farming, local trade, and religious tourism, as the Hajj attracted annual pilgrims from various Islamic countries. Despite the importance of this area, its scale could not provide a stable financial base for the development of the state: fluctuations in the number of pilgrims, depending on epidemics or the political situation, directly affected the revenue side of the budget. K. V. Akhmetova and A. A. Ibragimova noted that the economy of Saudi Arabia had remained underdeveloped and dependent on external factors before the beginning of the oil era [1, p. 356].
  Agriculture was conducted in traditional forms and provided only basic needs of the population. Domestic trade was limited, and exports were not significant. The poor development of the transport system and the remoteness from major world markets hindered the country"s economic integration. E. M. Khartukov emphasizes that in the pre-war decades, the Kingdom of Saudi Arabia was an economic periphery of the world system that did not have the resources for industrialization [9, p. 95].
  The changes began in the 1930s, when international companies began to show interest in the possible oil resources of the region. Initially, British entrepreneurs tried to consolidate their positions, but the final initiative was intercepted by the American company Standard Oil of California (SOCAL), which managed to conclude an agreement with the government of Ibn Saud. As V. D. Ostanin-Golovnya emphasizes, it was the partnership with the United States that became the foundation of long-term energy cooperation, which determined the strategic vector of the Kingdom’s development for the entire 20th century [6, c. 55].
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  14. Hasanov F.J., Razek N. Oil and Non-Oil Determinants of Saudi Arabia’s International Competitiveness: Historical Analysis and Policy Simulations. Sustainability. – 2023. – 15(11). – P. 90-111.
  15. Mohammed Suliman T. H., Abid M. The impacts of oil price on exchange rates: Evidence from Saudi Arabia //Energy Exploration & Exploitation. – 2020. – V. 38. – №. 5. – P. 2037-2058.