The Kingdom is preparing during the upcoming phase 2027/2028 to announce Saudi Vision 2040, a new phase based on industrial production led by energy industries: oil, gas, mineral wealth, clean and renewable energy. Hence, we can look at:

Saudi Political Analysis

The appointment of Minister of Energy His Royal Highness Prince Abdulaziz bin Salman as Minister of Industry and Mineral Resources on July 11, 2026, in addition to his current position as Minister of Energy since September 2019, in order to expand the role of the Minister of Energy and enhance integration between the energy and industry sectors. His expanded responsibilities will allow him to align the work of the Ministries of Energy and Industry more closely, and he now faces the task of implementing the Kingdom's vision to increase non-oil exports to more than 550 billion riyals by 2030.

During the oil and gas energy crisis that began in 2022, Prince Abdulaziz, as Minister of Energy, played a major role during a turbulent period in oil markets while leading the OPEC+ alliance: during the Russian invasion of Ukraine launched by Russia on February 24, 2022, and the war continues, he worked to ensure the continued flow and stability of oil prices for countries around the world. Then, the Strait of Hormuz crisis in the Arabian Gulf due to the American war on Iran on February 28, 2026, and until now, led to the closure of oil and commercial navigation in the Strait of Hormuz, causing an oil and economic crisis. The Minister of Energy worked to ensure the continued flow of the Kingdom's oil via the East-West pipeline, and to mitigate the severity of the crisis.

Additionally, Prince Abdulaziz, as Minister of Energy, undertakes the responsibility of coordinating the Kingdom's domestic and international energy policies in line with the Kingdom's Vision 2030, including supervising energy activities within the Kingdom, regulating the petroleum, gas, electricity, nuclear energy, and renewable energy sectors to serve the Kingdom's interests, as well as managing the Kingdom's international policies related to its relations with oil-producing countries (through OPEC and the OPEC+ agreement) and with consuming countries.

Most prominent discoveries and energy and industry projects during the first and second phases of Saudi Vision 2030:

* Agreement between the Saudi Minister of Energy and the U.S. Secretary of Energy on Saudi civilian nuclear technology in 2025.

* Understanding between the Minister of Energy and the United Nations on reducing emissions and enhancing climate efforts in 2025.

* Announcement by the Minister of Oil of 14 new oil discoveries in the Eastern Province and the Empty Quarter in 2025.

- Announcement by the Minister of Oil of large additional quantities of gas in the Jafurah field in 2024.

* Announcement by the Minister of Oil of the discovery of gas in the Jafurah sands in 2020.

* Announcement by the Minister of Oil of the discovery of two fields west of the Ghawar field, and the Dahna gas field in 2022.

* Announcement by the Minister of Energy of the discovery of oil and gas in the Rish field, gas in the Sara reservoir, the Sahbaa well, the Ajramiya well, and oil near Sakaka and Arar in 2020.

* Launch of the geographical survey project for renewable energy projects in the Kingdom in 2024.

* Announcement by the Ministry of Mineral Resources of the detailed geological mapping project for the Arabian Shield in 2023.

* Solar energy projects in Saudi Arabia: a photovoltaic solar power plant in Sakaka in 2020, Sudair plant, Shuaiba plant in Mecca, Rabigh plant, Jeddah Industrial plant, Qurayyat, Medina, Rafha plant in the Northern Borders.

* A factory for producing solar panels and cells in Tabuk and Sakaka.

* Discovery of the largest gold in Najran in 2025.

The mining sector in the Kingdom is the third pillar of the national industry.

Thus, these oil and gas discoveries are major industries, and therefore the next phase is the phase of energy and industry.