INSANE: 2 - The Real Truth

Saudi Arabia Approves Energy Supply Law

The Saudi Council of Ministers approved on Tuesday the Energy Supply law, which complements the sector’s legislative system based on the best international practices. In this regard, Saudi Energy Minister Prince Abdulaziz bin Salman noted that the law “aims to enable the efforts of restructuring the energy sector, in order…

Asharq Al-Awsat · Dec 29, 2022

Saudi Arabia, Japan Sign Clean Energy Cooperation Document

Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter. The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister…

Asharq Al-Awsat · Dec 26, 2022

Saudi Energy Minister: OPEC+’s More Accurate Predictions Are Due to Focusing on Market Fundamentals

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud stressed on Tuesday that OPEC+ members leave politics out of the decision making process and out of their assessments and forecasting. In an interview with the Saudi Press Agency (SPA), he added: “As I have emphasized multiple times, in…

Asharq Al-Awsat · Dec 20, 2022

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 · Dec 11, 2022

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 · Dec 8, 2022

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 · Dec 7, 2022

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 · Nov 26, 2022

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 · Nov 25, 2022

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 · Nov 24, 2022

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 · Nov 21, 2022