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He described the International Energy Agency's roadmap as comical
The Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman, said that the Kingdom is no longer an oil country only, but we are one of the strongest competitors in the field of energy. Our oil production is low cost, our gas production is also low cost, and our renewable energy production is low cost. We will certainly be the least expensive hydrogen producer, and I urge the world to accept these facts. We will take the lead in all of these areas.
Prince Abdulaziz bin Salman has implicitly responded to the controversial recommendation from the International Energy Agency to halt new investments in the oil and gas sectors to reach net zero emissions by 2050.
He said that Saudi Arabia took a decision in April 2020 to increase its production capacity of oil, and do not feel surprised at all if we return again with an additional announcement, in a timely manner and based on what we see for ourselves without being led by unrealistic initiatives.
At first glance, the 200-page treatise on energy efficiency may not resemble a Hollywood fantasy. The International Energy Agency sparked some heated debate last month, when it urged an end to new oil and gas investments to avoid catastrophic climate change. The Adviser to Major Economies detailed the step and many other steps in the "roadmap to net zero emissions by 2050".
But Saudi Arabia, the world's largest oil exporter, sees the IEA's energy blueprint as a sequel to the eccentric romantic comedy La La Land in 2016.
The Executive Director of the International Energy Agency, Fatih Birol, spoke earlier on Bloomberg Television and provided a more realistic description of his agency's work. He said the 2050 projections were merely "a practical translation of the aspirations of many governments to reduce greenhouse gases".
And "OPEC" had said that a report from the International Energy Agency urging investors not to finance new oil projects in order to curb emissions, may lead to fluctuations in the price of crude if it is adopted.
The Energy Agency has signaled that investors should not finance new oil, gas and coal projects if the world is to achieve net zero emissions by mid-century, in the sharpest warning yet about the importance of reducing fossil fuel consumption.
The research division of the Organization of the Petroleum Exporting Countries, whose 13 members hold over 80% of the world's crude oil reserves, released an internal document on the IEA report.
The “OPEC” report said: “The claim that there is no need for new investments in oil and gas after 2021 is in stark contrast to the conclusions repeatedly stated in other IEA reports, and may become a source of potential instability in oil markets if some investors take it.”
https://www.al-madina.com/article/7...روليا-فقط-بل-من-أقوى-المنافسين-في-مجال-الطاقة
The Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman, said that the Kingdom is no longer an oil country only, but we are one of the strongest competitors in the field of energy. Our oil production is low cost, our gas production is also low cost, and our renewable energy production is low cost. We will certainly be the least expensive hydrogen producer, and I urge the world to accept these facts. We will take the lead in all of these areas.
Prince Abdulaziz bin Salman has implicitly responded to the controversial recommendation from the International Energy Agency to halt new investments in the oil and gas sectors to reach net zero emissions by 2050.
He said that Saudi Arabia took a decision in April 2020 to increase its production capacity of oil, and do not feel surprised at all if we return again with an additional announcement, in a timely manner and based on what we see for ourselves without being led by unrealistic initiatives.
At first glance, the 200-page treatise on energy efficiency may not resemble a Hollywood fantasy. The International Energy Agency sparked some heated debate last month, when it urged an end to new oil and gas investments to avoid catastrophic climate change. The Adviser to Major Economies detailed the step and many other steps in the "roadmap to net zero emissions by 2050".
But Saudi Arabia, the world's largest oil exporter, sees the IEA's energy blueprint as a sequel to the eccentric romantic comedy La La Land in 2016.
The Executive Director of the International Energy Agency, Fatih Birol, spoke earlier on Bloomberg Television and provided a more realistic description of his agency's work. He said the 2050 projections were merely "a practical translation of the aspirations of many governments to reduce greenhouse gases".
And "OPEC" had said that a report from the International Energy Agency urging investors not to finance new oil projects in order to curb emissions, may lead to fluctuations in the price of crude if it is adopted.
The Energy Agency has signaled that investors should not finance new oil, gas and coal projects if the world is to achieve net zero emissions by mid-century, in the sharpest warning yet about the importance of reducing fossil fuel consumption.
The research division of the Organization of the Petroleum Exporting Countries, whose 13 members hold over 80% of the world's crude oil reserves, released an internal document on the IEA report.
The “OPEC” report said: “The claim that there is no need for new investments in oil and gas after 2021 is in stark contrast to the conclusions repeatedly stated in other IEA reports, and may become a source of potential instability in oil markets if some investors take it.”
https://www.al-madina.com/article/7...روليا-فقط-بل-من-أقوى-المنافسين-في-مجال-الطاقة
