The Saudi Energy Minister plans to extend his country’s exports beyond crude, to include petrochemicals and natural gas. The petrochemical production announcement comes on the heels of its takeover of SABIC, and the discovery of new oil fields in the Red Sea. Saudi Arabia is planning to diversify some its power generation by moving away from crude for electricity generation. The current plan is to transition the kingdom so that power production will be 70%  natural gas and 30% renewable energy.