Saudi Arabia is ready to meet the world’s oil needs
Saudi Arabia is ready to meet the world’s oil needs

Saudi Arabia is ready to meet the world’s oil needs

The SaudiCouncil of Ministers, chaired by King Salman bin Abdul-Aziz Al-Saud, affirmedthe Kingdom's readiness to meet the world's oil needs.

In astatement to the Saudi Press Agency (SPA), Minister of Information,Turki bin Abdullah Al-Shabana said that the Saudi Council of Ministers expressedappreciation for the participating companies' condemnation of the sabotageattacks on the oil facilities in Khurais and Abqaiq affiliated to Aramco, consideringthem a serious threat to the security of the region, the international security,and the global energy supply, as well as supporting all the measures taken bythe Kingdom of Saudi Arabia to enhance security and stability and to confrontany kind of aggression.

  • The Kingdom of Saudi Arabia will sign with Russia Charter onCooperation between oil producing countries.

In a related context, Saudi Arabia will sign with Russia on the "Charter of cooperation between oil producing countries," which concerns the cooperation of the Organization of Petroleum Exporting Countries "OPEC" with non-OPEC producers, including Russia.

Theattack on two Saudi oil facilities on Saturday, September 14, halted more thanhalf of the kingdom's production, or more than 5% of global supplies.

Saudi Energy Minister, Prince Abdul-Aziz bin Salman said on Thursday that the kingdom of Saudi Arabia had fully recovered oil production after an attack on two of its facilities last month and that it is now focusing on listing its energy giant Saudi Aramco to IPO.

Theminister told an energy conference in Moscow on October 4 that the Kingdom'soil production capacity now stands at 11.3 million barrels per day.

Thisattack had no impact on the electricity and water supply or the local marketfuel supply.

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