Tags
Saudi Arabia’s new energy minister said yesterday the world’s largest crude exporter was committed to meeting demand for hydrocarbons from its customers and would maintain its petroleum policies.
“Saudi Arabia will maintain its stable petroleum policies. We remain committed to maintaining our role in international energy markets and strengthening our position as the world’s most reliable supplier of energy,” Khalid al-Falih said in an e-mailed statement. “We are committed to meeting existing and additional hydrocarbons demand from our expanding global customer base, backed by our current maximum sustainable capacity.”
Since 2014, Saudi Arabia has led Opec through a new survival-of-the-fittest strategy aimed at defending market share rather than reducing production to support oil prices.
Al-Falih’s comments yesterday support analysts’ views that no shift in Saudi oil policy is likely as a result of his appointment.
His appointment was part of a bigger Saudi shake-up announced on Saturday as King Salman restructured some big ministries in a major reshuffle intended to support a wide-ranging economic reform programme.
As part of the restructuring, the Petroleum Ministry has been renamed the Ministry of Energy, Industry and Mineral Resources.
“The creation of a new Ministry in Saudi Arabia that brings together the Kingdom’s abundant and unrivalled energy and mineral resources and industrial capabilities is in line with the ambitious objectives of Saudi Vision 2030,” al-Falih said.
New central bank governor says
main priority is monetary stability
New Saudi Arabian Monetary Authority governor Ahmed al-Kholifey said his main priority is to maintain monetary stability and support the government’s Vision 2030 economic reforms, Al Sharq Al Awsat newspaper reported yesterday.
Al-Kholifey was appointed on Saturday in succession to Fahd al-Mubarak.
Without citing al-Kholifey by name, the daily added: “The central bank reaffirmed that it will keep the currency peg to the dollar, supported by its monetary tools, one of which is its foreign reserves.”
There are no comments.
SPORT Saying goodbye is never easy, especially when you are saying farewell to those that have left a positive impression. That was the case earlier this month when Canada hosted Mexico in a friendly at BC Place stadium in Vancouver.
TECHNOLOGY Some 60mn primary-school-age children have no access to formal education
CULTURE Lekhwiya’s El Arabi scores the equaliser after Tresor is sent off; Tabata, al-Harazi score for QSL champions
ARABIA The Yemeni Minister of Tourism, Dr Mohamed Abdul Majid Qubati, yesterday expressed hope that the 48-hour ceasefire in Yemen declared by the Command of Coalition Forces on Saturday will be maintained in order to lift the siege imposed on Taz City and ease the entry of humanitarian aid to the besieged
ARABIA Some 200 teachers from schools across the country attended Qatar Museum’s (QM) first ever Teachers Council at the Museum of Islamic Art (MIA) yesterday.
ARABIA The Supreme Judiciary Council (SJC) of Qatar and the Indonesian Supreme Court (SCI) have signed a Memorandum of Understanding (MoU) on judicial co-operation, it was announced yesterday.
ECONOMY Sri Lanka is keen on importing liquefied natural gas (LNG) from Qatar as part of government policy to shift to clean energy, Minister of City Planning and Water Supply Rauff Hakeem has said.
