Saudi Arabia is Ready to Meet World’s Oil Needs, Vows Energy Minister in Moscow

Saudi Arabia is Ready to Meet World's Oil Needs, Vows Energy Minister in Moscow
Saudi Arabia is Ready to Meet World's Oil Needs, Vows Energy Minister in Moscow

Saudi Arabia's Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy of the Kingdom, affirmed Thursday that his country, the world's leading energy supplier, is ready to meet the world's oil needs, pointing out to tremendous efforts exerted by his department and other government oil-industry-related agencies together with Saudi Aramco making it possible to restore production capacities within 72 hours following a cowardly attack on oil facilities in Abqaiq and Khurais. Prince Abdulaziz asserted that these efforts strengthen the Kingdom's position as the most reliable, secure and dependable oil supplier of the world.

In a key speech at the Russian Energy Week being held in Moscow under the theme "Maintaining Energy Connectivity in an Unstable World", Prince Abdulaziz bin Salman bin Abdulaziz highlighted the well done concerted local effort to put off a fire that engulfed Aramco oil production facilities in Abqaiq and Khurais, describing the experience as test to his new portfolio.

"I confirm that I am still up to the task I am undertaking, but I could not have done the task without the support I received from the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness the Crown Prince, the Saudi government, as well as all my colleagues in various government agencies, including Saudi Aramco, the core of the action, as well as other Aramco-related institutions, such as Electricity Company, Desalination and Industry Plants and the entire nation", he stated to remark the incident.

He expressed pride of the ability shown by his country'sskillful bodies and personnel to overcome this unprecedented challenge in theworld, proving that Saudi Arabia will remain the world's reliable, secure anddependable oil supplier, citing that the Kingdom has lost more than half of itsproduction capacity, the equivalent of five percent of the world's oil supplyand was able to retain its reputation as reliable, secure and dependable oilsupplier in a record time.

"We were all up to the challenge. I am quitecomfortable and honored to believe that I can stand and ask any of mycolleagues here or those who hear me now where ever they are that you have acountry, people and nation who can overcome a challenge which have never beenseen anywhere in the world. When you lose more than half of your oil productioncapacity; when you lose 5% of the world's oil supply; and, what is moreimportant, when you face a plot to lose your reputation as a reliable, secureand dependable oil supplier. Within 72 hours, we have sought to regain ourcapabilities and retain our reputation. More or less, we assume our responsibilityto implement our major job which is specifically to continue to be morereliable, secure and dependable oil supplier. We have succeeded in a shorttime," Prince Abdulaziz added.

He made a public invitation to journalists and analysts fromall over the world to visit Aramco sites to make sure that the attackedfacilities have come to normal.

"With a straight face, we say to all, if you believeus, it is fine. If you don't believe us, we invite you to visit us. We havehosted a number of journalists. We were in the phase of inviting analysts toreview our statistics regarding Aramco. We have also allowed them to visitanywhere in Aramco. Many important personalities from a number of countriesvisited us. Our ambassador to Russia told me that the first day of applying forthe newly-introduced tourism visa, a huge turnout has been recorded. We welcomeall of you to be briefed on the strength of our position and our fullcommitment towards the world with regard to fulfill oil supply securely andreliably," Prince Abdulaziz said.

In conclusion, he thanked Russian Energy Minister Alexander Novak and the Russian people for a warm hospitality, wishing that this important session could enhance joint cooperation of the world to address fluctuations witnessed by the global oil market.

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