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Saudi Arabia Calls for Integrating Circular Carbon Methods to Manufacturing, Production Systems

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
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Saudi Arabia Calls for Integrating Circular Carbon Methods to Manufacturing, Production Systems

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. REUTERS/Faisal Al Nasser

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that the kingdom was not part of the climate change crisis, emphasizing that the Kingdom is working seriously towards leading the world to a life free of carbon and gas emissions.

Underlining that Saudi Arabia was working towards a solution for climate change, Prince Abdulaziz affirmed that capturing Carbon will be the critical technology everyone must work on and collaborate on implementing.

During a seminar held in Riyadh on Wednesday, Prince Abdulaziz explained that several gases, other than CO2, are being emitted, such as methane.

For Saudi Arabia’s part, the energy minister reaffirmed that the Kingdom has the capabilities needed to lead an appropriate solution.

“Compared to the US, Canada, Britain, Russia, Mexico, Brazil, Venezuela, and other countries, our numbers show that we stand far from the emissions of these countries,” said Prince Abdulaziz, noting that the Kingdom is among the promoters of green economies.

He stressed the need to enhance international cooperation on employing the latest technology to help integrate circular carbon systems at all levels, enable industrial integration, prevent emissions, and create climate-friendly structures that support sustainable development.

Prince Abdulaziz stressed that Riyadh had called on all world countries to adopt this initiative to achieve carbon neutrality.

Prince Abdulaziz’s remarks were given at a virtual symposium entitled “Circular Carbon Economy: Total Carbon Management” organized by the Saudi Industrial Development Fund (SIDF).

The seminar brought together clean energy researchers, policymakers, regulators, and academics for practical discussions on policy and regulatory reforms needed to advance clean energy technologies and innovation successfully.

It tackled topics related to manufacturing and production systems integrating circular carbon systems at all levels.

Prince Abdulaziz stressed that Saudi Arabia would not be part of the global problem but instead will be at the forefront of work towards a solution and environmentally friendly activities.

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Aramco Chief Expects Additional Oil Demand of 1.3 Million bpd this Year

Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
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Aramco Chief Expects Additional Oil Demand of 1.3 Million bpd this Year

Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025

Saudi oil giant Aramco's Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year.
Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Nasser was responding to a question on the impact of US President Donald Trump's energy decisions, which could increase US hydrocarbon output.
Oil demand this year will approach 106 million barrels per day after averaging about 104.6 million barrels per day in 2024, he said.
“We still think the market is healthy ... last year we averaged around 104.6 million barrels (per day), this year, we're expecting an additional demand of about 1.3 million barrels ... so there is growth in the market,” he said.
Asked about US sanctions on Russian crude tankers, he said the situation was still at an early stage.
“If you look at the impacted barrels, you're talking about more than 2 million barrels,” he said. “We will wait and see how would that translate into tightness in the market, it is still in the early stage.”
Asked if China and India have sought additional oil volumes from Saudi Arabia on the back of the sanctions, Nasser said Aramco is bound by the levels the Kingdom's energy ministry allows it to pump.
“The Kingdom and the Ministry of Energy is always looking at balancing the market. They take that into account when they give us the target of how much we should put in the market,” he said.
In a Bloomberg television interview in Davos, Nasser said: “We still see good demand coming out of China.” The country, along with India, make up about 40% of the rise in global consumption and, “demand is increasing year on year.”
Nasser’s comments echo those he made back in October, saying he was bullish on China after a series of government stimulus measures aimed at reviving the economy.
Nasser also said that Aramco is working with MidOcean, an LNG firm in which it took a 51% stake, and “looking at expanding our position globally in LNG,” without giving details.