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Saudi Energy Minister: Providing Competitive Energy Prices for Companies

Saudi Energy Minister Prince Abdulaziz Bin Salman at the Digital Government Forum in Riyadh
Saudi Energy Minister Prince Abdulaziz Bin Salman at the Digital Government Forum in Riyadh
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Saudi Energy Minister: Providing Competitive Energy Prices for Companies

Saudi Energy Minister Prince Abdulaziz Bin Salman at the Digital Government Forum in Riyadh
Saudi Energy Minister Prince Abdulaziz Bin Salman at the Digital Government Forum in Riyadh

Saudi Energy Minister Prince Abdulaziz Bin Salman has revealed a new initiative led by the Kingdom aimed at providing sustainable energy to businesses at a fixed and stable price for an extended period.
He revealed that there are currently 1,200 sites across various regions of the Kingdom being studied to determine the most suitable locations for solar energy projects.
During a session titled ‘The Role of Innovation and Digital Transformation in Enhancing Efficiency in the Energy Sector Towards a Sustainable Future’ at the Digital Government Forum in Riyadh, the prince announced a new direction to provide sustainable energy to companies at a fixed and stable price for a long period, asserting that the Kingdom is capable of doing so to enhance the economic returns of facilities.
The minister added that the Ministry has succeeded in reducing costs by using modern technologies in the process of extracting, producing, and distributing all forms of energy, as well as in reducing costs in manufacturing spare parts and devices used in these processes.
He also noted that the Kingdom has ‘thousands’ of oil and gas pipelines spread across the country, highlighting the importance of artificial intelligence technology in monitoring various aspects around them, including maintenance, safety, and security.

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Saudi National Program to Drive Growth of Mineral Sector

Prince Mohammed bin Salman chairs the Cabinet session in Jeddah (SPA)
Prince Mohammed bin Salman chairs the Cabinet session in Jeddah (SPA)
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Saudi National Program to Drive Growth of Mineral Sector

Prince Mohammed bin Salman chairs the Cabinet session in Jeddah (SPA)
Prince Mohammed bin Salman chairs the Cabinet session in Jeddah (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said that the National Minerals Program will be a strong and supportive tool to enhance the quality of supply chains, ensure continuity of supply to local industries and major projects, develop the country’s infrastructure, and achieve the goals of Vision 2030.

He noted that the program will play an effective role in advancing the growth of the sector and exploiting the mineral resources in the Kingdom.

On Tuesday, the Saudi Council of Ministers, chaired by Crown Prince Mohammed bin Salman, approved the establishment of the program within the Ministry of Industry and Mineral Resources, with the aim to raise the efficiency and adequacy of supply chains for current and future minerals, and enhancing their continuity in the region and the world, within the country’s efforts to maximize the value achieved from the sector.

Alkhorayef explained that the adoption of the program highlights the Saudi leadership’s endeavor to promote the sector.

He added that Saudi Arabia seeks to develop mineral value chains so that mining becomes the third pillar of the national industry, and to benefit from the Kingdom’s geographical location, which represents one of the most important major commercial intersections, supported by a wide base of advanced, integrated and diverse infrastructure.

The minister indicated that the program will work to fundamentally unify the main roles between the various parties, and fill the existing gaps to ensure the continuity of supply chains for minerals, as well as build local capabilities, contribute to exploration operations, and ensure the stability of supply to local industries and major projects.