Saturday , April 1 2023

After Qatar's direction … Saudi Arabia is considering "unprecedented" with UAE and Oman


Saudi Arabian Energy Minister Khalid Al-Falih predicted that after local reforms, domestic energy consumption in oil equivalent by 2030 would fall by 1.5-2 million barrels per day.

During the week in Abu Dhabi, Al-Falih CNBC announced that domestic demand for gasoline and electricity had fallen following the reform of domestic energy prices.

He said Saudi Aramco is trying to develop gas resources in the UK to meet local needs and potential exports in the future, and that most of the gas is in Saudi Arabia.

Saudi Arabian Energy Minister said the global market downturn will not affect the oil market, adding that the global economy is strong enough.

He said the reduction of 1.2 million barrels per day would have a major impact, pointing out that the Kingdom had followed a reduction plan with a very strong reduction in production.

He added that stock stocks would return to normal rates, which would increase confidence in the oil markets, stressing that he was optimistic about it.

Al-Falih said Saudi Arabia would become a gas source and would strive to reach 70% of renewable energy production, indicating that the Kingdom has 40 GW photovoltaic power.

He discovered that his country is talking to the UAE and Oman to expand the regional gas network.

Qatar has renounced 15 members of OPEC, including Qatar, and said that its surprise decision was not dependent on political factors, Saudi Arabia has not named Saudi Arabia, but Qatar State Minister, Energy Minister Saad al-Kaabi said: "We are not saying that we Let's Get Out of Oil, Leads One Country ".

Al-Qabab, who heads OPEC delegation in Qatar, said the decision was not political, but linked to the country's long-term strategy, gas sector development plans, and increased LNG production to 110 million tonnes by 2024.

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