Saudi Arabia has ambitious plans to diversify the economy away from oil and support social reforms. The government, under the impulse of new Crown Prince Mohammed Bin Salman, has released some strategical guidelines to triple non-oil revenues by 2020, promote job creation by strengthening local content and the participation of the private sector. The near-term emphasis is to boost gas supply to displace some of the large and inefficient crude oil burn in the power sector, and promote the development of industrial clusters. The government has also set the bar high for the development of new energies - mainly renewables and nuclear. We highlight and address major trends within the report, including: - What is required for gas to displace oil products in the power sector? How much oil can be displaced? What are the implications? - What are the risks, uncertainties and challenges to the large-scale development of renewables? - Is oil a thing of the past for Saudi Arabia?