Sustainability Challenges In Social Marketing: Oil And Gas Companies In Middle East Region Case Study

Abstract

The Middle East is the world's wealthiest region in terms of oil and gas, with vast resources and growing demand. Despite skepticism about oil reserves, advancements and better technologies have led to growth. The region will continue to be the world's leading supplier of petroleum and natural gas. However, challenges include raising investment capital, addressing domestic demand, reliance on imported technology and labor, limited regional cooperation, and[1] increased arms imports. Political and social changes, such as the Arab Spring and regional disputes, have raised concerns about the sustainability of supply and increased global involvement in local concerns. (Khatib, 2014). Middle Eastern nations, comprising 48.3% of the world's petroleum reserves, are key to global oil production. Last year, Saudi Arabia, Iraq, Kuwait, Iran, Oman, and UAE were the leading crude oil producers. These deposits also contribute to economic development, with over 15 million barrels taken daily. (Biceroglu et al., 2023).