Saudi Arabia Calls For Flexibility In Energy Transition

RIYADH, Saudi Arabia – The transition away from fossil fuels towards clean energy is complicated and the world needs to be flexible to avoid sacrificing energy security, Saudi Arabia’s energy minister said on Wednesday. Prince Abdulaziz bin Salman al – Saud also told a mining conference in Saudi Arabia, the world’s biggest exporter of crude oil, … More Saudi Arabia Calls For Flexibility In Energy Transition

Saudi Energy Minister Sees Demand From Gas – To – Oil Switch At Up To 600,000 BPD

LONDON – Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman said users switching from gas to oil could account for demand of 500,000 – 600,000 barrels per day (bpd), adding that the world was now waking up to shortages in the energy sector. Prince Andulaziz said the potential switch depended on how severe winter … More Saudi Energy Minister Sees Demand From Gas – To – Oil Switch At Up To 600,000 BPD

Saudi Arabia To Ask Foreign Energy Companies To Up Domestic Input To 70% – Sources

LONDON – Saudi Arabia will require foreign firms working in the energy sector, including petrochemicals and water desalination, to boost local input to at least 70% in order to secure government contracts, three sources familiar with the matter said. Energy Minister Prince Abdulaziz bin Salman discussed the plan to increase domestic input with local and … More Saudi Arabia To Ask Foreign Energy Companies To Up Domestic Input To 70% – Sources

Saudi Arabia Expresses Concern Over Iran’s Lack Of Transparency On Nuclear Program

Riyadh / Saudi Arabia – Saudi Arabia is concerned over Iran’s lack of transparency in regards to its nuclear program, the Kingdom’s Minister of Energy Prince Abdulaziz Bin Salman said on Monday during an International Atomic Energy (IAEA) meeting with other member states. Saudi Arabia reiterates the importance of countries around the world abiding by … More Saudi Arabia Expresses Concern Over Iran’s Lack Of Transparency On Nuclear Program

U.S. Energy Secretary Makes Phone Call To Saudi Arabia Ahead of OPEC+ Meet

The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC’s leaders before key meetings. U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister … More U.S. Energy Secretary Makes Phone Call To Saudi Arabia Ahead of OPEC+ Meet

BUSINESS | Saudi Arabia Makes Four New Oil, Gas Discoveries: Energy Minister

RIYADH – – Saudi Aramco has discovered four new oil and gas fields in Saudi Arabia, the Minister of Energy Prince Abdulaziz bin Salman announced on Sunday, according to Saudi Press Agency (SPA). Non-conventional oil was discovered in the al – Reesh oil field, north – west of the Dhahran. The city, a major administrative … More BUSINESS | Saudi Arabia Makes Four New Oil, Gas Discoveries: Energy Minister

BUSINESS | OPEC+ Panel To Hold Informal Online Talks On Saturday

A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a letter seen by Reuters showed and source with knowledge of the matter said. OPEC+ is debating whether to ease oil output cuts from Jan.1, as it previously agreed, or … More BUSINESS | OPEC+ Panel To Hold Informal Online Talks On Saturday

BUSINESS | Saudi Energy Minister Says Effective Global Oil Cuts Above 19 million bpd

BUCHAREST | ROMANIA  – Saudi Arabia’s energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserve. OPEC and allies led by Russia, a group known as … More BUSINESS | Saudi Energy Minister Says Effective Global Oil Cuts Above 19 million bpd

BUSINESS | Saudi Energy Minister: No Need For OPEC+ Meet If No Agreement On Handling Oil Market Crisis

RIYADH – Saudi Arabia’s energy minister said on Tuesday he does not see a need to hold an OPEC+ meeting in May-June if there was no agreement on what measures should be taken to deal with the impact of the coronavirus on oil demand and prices. ‘I fail to see the wisdom for holding meeting … More BUSINESS | Saudi Energy Minister: No Need For OPEC+ Meet If No Agreement On Handling Oil Market Crisis