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INSANE: 2 - The Real Truth

Saudi Arabia, Kuwait sign MoU to Develop Durra Gas Field

Saudi Aramco’s wholly-owned subsidiary Aramco Gulf Operations Company signed on Saturday a memorandum of understanding (MoU) with state-owned Kuwait Gulf Oil Company (KGOC) to develop the joint Durra gas field. Kuwait’s Deputy Prime Minister and Minister of Oil Badr al-Mulla and Saudi Minister of Energy Prince Abdulaziz bin Salman attended…

Asharq Al-Awsat

Saudi Energy Minister: OPEC+ Adopts Economic Approach that Keeps Politics Out

Saudi Energy Minister Prince Abdulaziz bin Salman said that the OPEC+ operated according to a purely economic perspective, without entering into political aspects and alliances. “OPEC+ operates from an economic position and does not get involved in political aspects,” he said on Sunday. The minister’s comments came during the sessions…

Asharq Al-Awsat

Saudi Energy Minister: OPEC+ Members’ Collective Efforts Achieved the Miracle

Saudi Energy Minister Prince Abdulaziz bin Salman said on Sunday that the ongoing global developments have proven that OPEC+ has taken the right decision. The collective efforts of the group have led to what he described as the “miracle” in 2020. OPEC+ is keen on being regulators of the market…

Asharq Al-Awsat

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Saudi Crown Prince Meets Presidents of Djibouti, Comoros, Lebanese PM

Prince Mohammed bin Salman, Crown Prince and Prime Minister, held talks in Riyadh on Saturday with President of Djibouti Omar Guelleh. They tackled bilateral relations between their countries and ways to bolster them. Crown Prince Mohammed also met with President of the Comoros Azali Assoumani for talks on cooperation between…

Asharq Al-Awsat

Saudi Arabia to Establish Regional Center for Chinese Factories in Riyadh

Saudi Energy Minister Prince Abdulaziz bin Salman said on Wednesday that relations between Saudi Arabia and China are witnessing a paradigm shift, which reflects the keenness of both countries’ leaderships to develop them. Prince Abdulaziz said both sides seek to bolster cooperation in the energy supply chains by establishing a…

Asharq Al-Awsat

Officials Call for Exploiting Petrochemical Sector to Achieve Circular Energy Goals

Saudi Minister of Energy Prince Abdulaziz bin Salman described the Arab Gulf countries as a land of opportunities and ambitions, stressing the role of young local talents in building a sustainable future. The minister was speaking during the inauguration of the 16th session of the annual forum of the Gulf…

Asharq Al-Awsat

Saudi Arabia, Iraq to Complete Steps for Cooperation in Gas, Renewable Energy

Saudi Arabia and Iraq have agreed to complete work on a number of important joint projects in the fields of gas, petrochemicals, electricity and renewable energy, and to intensify communication between them to discuss more joint opportunities. This came during a meeting on Thursday between Saudi Energy Minister Prince Abdulaziz…

Asharq Al-Awsat

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Saudi, Iraqi Energy Ministers Stress Importance of Working within OPEC+ Framework

Saudi Energy Minister Prince Abdulaziz bin Salman and his Iraqi counterpart Hayan Abdel-Ghani stressed on Thursday the importance of adhering to OPEC+ output cuts that last until the end of 2023, the Saudi energy ministry said in a statement on Friday. The two sides also pointed to, "the ability to…

Asharq Al-Awsat

Saudi Petrochemical Strategy in its Final Stages

Saudi Minister of Energy Prince Abdulaziz bin Salman said on Wednesday that the petrochemical sector was rapidly growing in demand for oil globally, stressing that the acceleration in growth will continue until 2040. In remarks during the inauguration of the Saudi Petrochemical Industries Company (SABIC) building in Jubail, the minister…

Asharq Al-Awsat

Saudi Energy Minister Denies Output Increase Discussion

Saudi Arabia on Monday said that OPEC+ was sticking with oil output cuts and could take further measures to balance the market amid falling prices, denying a report it was considering boosting output to 500,000 barrels per day, according to state news agency SPA. "It is well-known that OPEC+ does…

Asharq Al-Awsat

Saudi Arabia Steps up ‘Climate Battle’ Efforts

The Saudi pavilion at COP27 was one of the most crowded places during the days of the conference in Sharm el-Sheikh. Visitors did not only attend seminars and discussion sessions, they also met researchers who have introduced programs directed to combating climate change to light. While Energy Minister Prince Abdulaziz…

Asharq Al-Awsat

Saudi Green Initiative Increases Climate Ambition

The Saudi Minister of Petroleum and Energy, Prince Abdulaziz bin Salman, delivered a speech at the "Green Saudi Arabia" that inspired several Saudi officials who highlighted the challenge during their demonstration of the environmental dimensions of their projects, asking the public to hold them by their word next year.

Asharq Al-Awsat

Saudi Arabia to Establish Regional Center for Reducing Emissions

Saudi Energy Minister Prince Abdulaziz bin Salman announced on Saturday three new projects that will further enhance the Kingdom’s national and regional climate action.

Asharq Al-Awsat

The Kingdom Declares Saudi Green Initiative an Annual Event

Saudi Energy Minister Prince Abulaziz bin Salman announced on Friday that the Green Saudi Initiative forum would be an annual event in order to review the implementation of the Kingdom’s climate goals. “Crown Prince Mohammed bin Salman decided to hold the initiative annually; because we are confident in our steps,…

Asharq Al-Awsat

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Reuters

World hoped to crucify top oil supplier, Saudi says

The world was hoping to crucify Saudi Arabia as a top oil exporter, its energy minister said on the sidelines of the COP27 summit in Egypt, adding the kingdom would be closely monitoring other countries' renewable promises.

Asharq Al-Awsat

ACWA Power, Oman Investment Authority Study Possibility of Wind Power Plant Project in Egypt

Saudi Arabia and Oman signed on Tuesday a memorandum of understanding to study the possibility of investing up to 10 percent in the development, construction, and operation of the 1.1 GW Suez wind power plant project, which is valued at $1.5 billion. Oman News Agency reported that Oman Investment Authority…

Asharq Al-Awsat

Saudi Arabia Signs Energy MoUs with Egypt, Oman

Saudi Arabia signed two separate memoranda of understanding in the energy field with Egypt and the Sultanate of Oman on Monday, on the sidelines of the 2022 United Nations Climate Change Conference and the second edition of the Green Middle East Initiative summit, which were held in the Egyptian city…

Asharq Al-Awsat

Chemical Sustainability in the Gulf Will Be Highlight of GPCA Forum in December

The Gulf Petrochemicals and Chemicals Association (GPCA) is set to discuss the challenges facing the sector and propose solutions for them at the 16th edition of the annual forum in December. The forum, “Shaping a Sustainable Future with Chemicals”, will take place in Riyadh for the first time from December…

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Asharq Al-Awsat

Saudi Contacts to Support Global Efforts for Addressing Climate Challenges

Saudi Energy Minister Prince Abdulaziz bin Salman has affirmed the need for enhancing international cooperation in energy fields and industry innovations to serve global trends in the field of sustainability and preservation of the planet. Prince Abdulaziz has been meeting with ministers from all over the world to discuss the…

Asharq Al-Awsat

Saudi Arabia Stresses Importance of Energy Transition to Address Climate Challenges

The Saudi Ministry of Energy emphasized the importance of the global energy transition to address climate challenges and the expansion of international cooperation to support sustainable development and the zero emissions target. Saudi Minister of Energy Prince Abdulaziz bin Salman held a meeting via video conference on Thursday with the…

Asharq Al-Awsat

Saudi Arabia to Produce 10GW of Wind Energy in Egypt

Egypt and Saudi Arabia signed on Tuesday a memorandum of understanding for the implementation of a 10 gigawatt wind electric power project in Egypt. The MoU was signed between Saudi ACWA power company and Egypt’s New and Renewable Energy Authority and the Egyptian Electricity Transmission Company. The Saudi Press Agency…

Asharq Al-Awsat

Abdulaziz bin Salman Stresses Saudi-UAE Cooperation for Future Energy Mix

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that Saudi Arabia and the UAE were working to increase production capacity, enhance refining volume, and convert oil into petrochemicals. He noted that the two countries were seeking to provide a safe and sustainable energy system. In his speech on the sidelines…

Asharq Al-Awsat

Saudi Arabia, France to Cooperate on Clean Hydrogen, Renewable Energy

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz reiterated on Friday the need to increase the stability of the global oil market, during a video call with French Minister for Energy Transition, Agnes Pannier-Runacher. Saudi Arabia and France are seeking to increase cooperation in clean hydrogen and renewable energy.…

Asharq Al-Awsat

Saudi Energy Minister, Pakistani Finance Minister Hold 1st Meeting of Steering Committee

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman and Pakistan's Finance Minister Ishaq Dar held on Thursday the first meeting of the Saudi-Pakistani Steering Committee of the Economic Pillar. Prince Abdulaziz confirmed in a statement that the Kingdom considers Pakistan an important partner in its development plans and programs. He…

Asharq Al-Awsat

Saudi Energy Minister: Kingdom Is World’s Most Reliable Oil Supplier

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Tuesday that the Kingdom remained the world's most reliable oil supplier. The Kingdom had increased its sales to Europe to 950,000 barrels in September from 490,000 barrels the same time a year ago, he told the Future Initiative Investment (FII)…

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