alt Hacker NewsYou have no idea what socialism is, like so many right wing propagandists and dynastic-autocracy labor-exploitation rentier-state apologists.
That's not socialism. It's an absolute autocratic monarchy distributing oil rents to a privileged citizen caste.
Most of the private-sector work is done by foreign workers who don't receive the same benefits or political rights.
Socialism is state ownership of the means of production. The governance of that state, be it democratic, monarchical, or dictatorship of the proletariat, is a separate question.