Falih: Saudi Arabia Exports 1 Mn Barrels of Oil Derivatives

Falih hopes the oil market will be balanced by April (Reuters)
Falih hopes the oil market will be balanced by April (Reuters)
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Falih: Saudi Arabia Exports 1 Mn Barrels of Oil Derivatives

Falih hopes the oil market will be balanced by April (Reuters)
Falih hopes the oil market will be balanced by April (Reuters)

Saudi Minister of Energy and Mineral Resources Khaled al-Falih said Wednesday that the Kingdom exports about one million barrels of oil derivatives per day.

He said it also exports about seven to eight million barrels of crude oil per day and quantities of liquefied gas.

Falih confirmed that Saudi Aramco’s initial public offering (IPO) is expected to take place within two years, stressing that all Saudi Aramco refineries and companies will be publicly offered too.

Saudi Arabia has the best attractive environment for foreign investment.

“The equal treatment of all investors is what made the Saudi investment environment the best.”

Falih made his press remarks in headquarters of Saudi Aramco Total Refining and Petrochemical Company(SATORP).

He noted that the industry will see more investments in the near future, pointing out that the manufacturing industries in Sadara Chemical Company and SATORP will be stimulated and used to expand production into value-added industries.

The Saudi Minister added that 60 percent of car parts would be manufactured in Saudi Arabia, adding that the ministry was working to promote value-added chains.

Falih pointed out that the Kingdom is working on building a copper and insulation plant, which would qualify it to enter the electric car industry.

Saudi Aramco owns 65 percent of SATORP while Total owns 35 percent. It handles 460,000 barrels of heavy oil.

Notably, its Diesel refinery production amounts to 55 percent, gasoline 19 percent, petroleum coal five percent, petrochemicals 10 percent, in addition to 11 percent of other products.



FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.