For those interested in Saudi oil and energy policy, today’s speech by HRH Prince Abdulaziz bin Salman, the Saudi Energy minister, at “SABIC Conference 2020”, outlined these policies and mentioned some points that have a significant impact on the rest of the world. More later 
His speech’s themes were:
1-Role of energy ministry
2-Role of oil and gas sector
3-Circular carbon economy
4-Role of the energy ministry in economic development.
"Soon you will hear about the ability of the kingdom to be a gas exporter and a petrochemical exporter"
1-Role of energy ministry
2-Role of oil and gas sector
3-Circular carbon economy
4-Role of the energy ministry in economic development.
"Soon you will hear about the ability of the kingdom to be a gas exporter and a petrochemical exporter"
"The goal of expanding the scope of the ministry’s work was to make the Kingdom a pioneer in all energy sources needed by the local and global economy in the future in an integrative manner that enhances the benefit from all these sources" Prince Abdulaziz Bin Salman said.
Below is an important quote from the Saudi energy minister: use fossil fuel to make plastic to create renewable energy while creating jobs and economic growth: 👇
"the optimal energy mix in the Kingdom calls for the contribution of a large % of renewable energy in it, & if we compare it with the focus on raising the percentage of local content, this will stimulate more innovations & uses of plastics in the components of renewable energy"
He mentioned an example of the use of petroleum in a sustainable manner. Here is the best translation I can come up with: 👇
"The oil that will be saved from use of renewable energy in the Kingdom will be converted into chemicals that will be used to manufacture sustainable materials that contribute to the production of renewable energy and the production of polymeric materials used in wind turbines"
He also announced a new joint program among 17 ministries and organizations to optimize the economics and environmental uses of oil and create new materials to ensure the sustainability of oil demand 👇
“I am pleased to announce a new program in this conference "sustaining the demand for oil", which operates under the umbrella of the Supreme Committee for Hydrocarbons chaired by His Royal Highness the Crown Prince, may Allah protect him” HRH said
In the quote below, the Saudi energy minister explains the new policy: replace traditional materials with innovative and sustainable polymeric materials from oil and gas 👇
"Polymeric materials represent only 6% of the materials used globally, while other materials such as iron, aluminum, glass, and paper represent 94% of the materials used.
This means that there is a very large opportunity for growing demand for oil and gas"
This means that there is a very large opportunity for growing demand for oil and gas"
There are many other important points on the circular carbon economy and energy efficiency, but the two most important points in my view are the use of oil in materials and the forthcoming announcement about the capability to export natural gas
