United States Strongly Condemns Houthis' Attacks on Saudi Arabia    Saudi Arabia to determine cost of cheap solar energy this month    Saudization exceeds 50% in seven activities    Why do they fight Muhammad Bin Salman?    MoH launches coronavirus vaccination service inside cars    SCENIC & SERENE    Aug. 23 set as deadline to correct Anti-Concealment Law violations    Amin is first national to complete KAUST's internationally accredited scientific diving course    Yemen ‘cannot even afford to worry about the coronavirus'    UAE welcomes ceasefire between India and Pakistan in Kashmir    AlUla — Journey Through Time photography exhibition in Milan set    Jordan Condemns Continuing Israeli Violations on Al-Aqsa Mosque    IMCTC Signs Memorandum of Joint Cooperation with Imam Muhammad bin Saud Islamic University    KSrelief Supervisor General Meets with Head of EU Delegation    ARCO Condemns Repeated Targeting of Civilian Areas in Saudi Arabia    Saudi Senior Scholars Council Rejects Report Provided to Congress About Killing of Saudi Citizen Jamal Khashoggi    Russia Reports 11,359 New Coronavirus Cases, 379 Deaths    Deccan Knights win Muhammad Iqbal Memorial Cup in rain-affected final    Oman Expresses its Solidarity with Saudi Arabia in its Position, Regarding Report Provided to Congress About Killing of Saudi Citizen Jamal Khashoggi    HRH Crown Prince Attends Diriyah Formula E Race    UAE, Gulf allies support Saudi Arabian statement on Khashoggi case    24% reduced demand for gasoline during the curfew    Emerging digital solutions for life after COVID is likely to be worth over $3 trillion by 2025: UNCATD    Dutch De Vries Wins Inaugural Round of Formula E Diriyah Competitions 2021    Mercedes' De Vries wins Forumla E's first night race in Diriyah    KSU Medical City Participates with Medical Center to Ensure Safety of Formula E Participants    SAMI Concludes Its Participation in IDEX 2021, with Key Strategic Partnerships    CEO of Formula E highlights strong partnership with Saudi Arabia    Inaugural Red Sea International Film Festival to take place in November    CEO of Formula E Highlights Strong Partnership with Saudi Arabia    Saudi Stock Exchange Main Index Ends Trading Higher, at 9,194.92 Points    Researchers find worrying new coronavirus variant in New York City    National Debt Management Center Issues Sovereign Bonds in Euro with Negative Return    CEO of Quality of Life Program: by hosting Formula E, Saudi Arabia confirms that it is a global center for major sports    Focusing a lens on courage, despair and hope    World's longest painting created in Dubai to raise 110mn dirhams for coronavirus-hit kids    Film Commission Launches 28 Cinematic Projects for Winners of Daw' Film Competition    SASCA in Dammam Sets a Deadline for Receiving Participations in International Video Art Forum    Saudi Film Commission Opens Registration Doors for Digital Filmmakers' Program    Saudi Arabia Names " Scales" Film to Represent it in Oscars    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Court facilitates young woman's marriage after stripping father's guardianship    Bahrain's top Islamic body condemns attempts to insult Muslim symbols    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    S. P. Bala, legendary Indian singer, dead at 74    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Saudi Arabia developing new methods for oil and gas exploitation: Prince Abdulaziz
Published in The Saudi Gazette on 26 - 01 - 2021

RIYADH — Saudi Arabia intends to develop new methods for oil and gas exploitation in its bid to boost demand, Minister of Energy Prince Abdulaziz Bin Salman said on Monday.
Addressing the ceremony to launch the ministry's new brand identity, the minister said that this is part of the important programs for the energy system that aim to sustain the demand for hydrocarbons and seek to replace petroleum liquids by solar energy.
Prince Abdulaziz said that Crown Prince Muhammad Bin Salman is keen on following up the program, as it will play a significant role in raising demand for these materials.
Its outputs also enhance the national economy's benefit from the value added resulting from achieving the maximum production of these materials, he explained.
According to the minister, restructuring the electricity sector will have positive results at all levels. It will enable the sector to have renovation and construction in a way making it capable to respond to future programs, and the program of replacing petroleum liquids with solar energy and gas.
He emphasized that the program is one of the largest and most important programs that will be implemented because of its added value to the national economy and the financial capabilities it will provide that were wasted earlier.
"The energy system has made a great effort over the past year to restore stability to the petroleum markets," he said while praising the key role of the Crown Prince, the chairman of the Supreme Committee for Hydrocarbon Affairs, in direct follow-up and negotiation in many critical situations, so as to enable the ministry to implement this main demand, and without it, the public finances will be affected and thus will negatively affect the state's initiatives and programs.
The minister announced that all the ministry's programs are now linked to the participation and contribution of government and private agencies, to enable the ministry to implement these programs that will have a positive developmental impact in its comprehensive sense. "As Saudis, we do not fear the challenge, but rather accept it, and we will be among the initiators of finding solutions," he said adding that the National Program for the Circular Carbon Economy is empowered to prolong the use of hydrocarbons.

Clic here to read the story from its source.