World Energy Council to Asharq Al-Awsat: Saudi Arabia Plays Major Diplomatic Role

Secretary General of the World Energy Council Dr. Angela Wilkinson speaks to Asharq Al-Awsat in Riyadh. (Asharq Al-Awsat)
Secretary General of the World Energy Council Dr. Angela Wilkinson speaks to Asharq Al-Awsat in Riyadh. (Asharq Al-Awsat)
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World Energy Council to Asharq Al-Awsat: Saudi Arabia Plays Major Diplomatic Role

Secretary General of the World Energy Council Dr. Angela Wilkinson speaks to Asharq Al-Awsat in Riyadh. (Asharq Al-Awsat)
Secretary General of the World Energy Council Dr. Angela Wilkinson speaks to Asharq Al-Awsat in Riyadh. (Asharq Al-Awsat)

Secretary General of the World Energy Council Dr. Angela Wilkinson said Saudi Arabia plays an influential diplomatic role on the global stage, noting that its contribution is often underappreciated.

In remarks to Asharq Al-Awsat on the sidelines of the ninth edition of the Future Investment Initiative (FII) conference in Riyadh, Wilkinson highlighted that the council’s member community in Saudi Arabia is working on several fronts to ensure wider access to reliable and sustainable energy — not only within the Kingdom but also through initiatives such as the Saudi Green Initiative and the Middle East Green Initiative, as well as broader international efforts.

She said she is always pleased to visit the Kingdom and observe the tangible progress being made, while also following Saudi-supported projects in Africa and Southeast Asia that aim to improve living conditions in developing regions.

World Energy Congress

Wilkinson said Riyadh will host the World Energy Congress in October 2026, describing the gathering as an opportunity to reunite a global energy sector increasingly marked by fragmentation and polarization.

She noted that the event will provide a platform to assess the world’s current position amid rapid transformation and explore how countries can embrace new opportunities and advance together.

Her ambition, she added, is to deliver the most successful World Energy Congress in the council’s history and showcase the progress taking place in Saudi Arabia and other parts of the world.

Geopolitical shifts and sustainability

Wilkinson discussed ongoing geopolitical changes in the energy landscape, saying that the introduction of new technologies and the entry of more countries and players have made providing cleaner, more accessible energy for billions of people one of the defining challenges of the century.

She emphasized that energy transitions cannot follow a single universal model, underscoring the need for each nation to balance energy security, affordability, accessibility, and environmental sustainability.

For two decades, the World Energy Council has published the World Energy Trilemma Index, which measures national performance across these areas and supports knowledge-sharing to strengthen policy and management practices.

Winds of change from the Middle East

According to Wilkinson, the Middle East has become a key driver of global energy transformation. While countries such as China and Japan face the pressures of aging populations, the Middle East remains youthful and dynamic, with distinct demographic and climatic conditions that are reshaping energy systems.

She noted that the new frontiers of energy extend beyond digitalization to encompass demographic and environmental dimensions that will define future demand and supply patterns.

Humanizing energy

Wilkinson said the global conversation on energy is shifting toward a deeper understanding of how demand evolves and how societies can adapt to changing needs. She reaffirmed the council’s vision of “Humanizing Energy,” which focuses on cooperation and shared responsibility.

Energy, she stressed, is a collective endeavor that underpins civilization and human progress, and ensuring its equitable and sustainable flow is essential for a prosperous future for all.



Syria Signs Landmark Offshore Oil Field Deal

Caption: A youth works at a makeshift oil refinery site in Marchmarin town, southern countryside of Idlib, Syria December 16, 2015. REUTERS/Khalil Ashawi
Caption: A youth works at a makeshift oil refinery site in Marchmarin town, southern countryside of Idlib, Syria December 16, 2015. REUTERS/Khalil Ashawi
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Syria Signs Landmark Offshore Oil Field Deal

Caption: A youth works at a makeshift oil refinery site in Marchmarin town, southern countryside of Idlib, Syria December 16, 2015. REUTERS/Khalil Ashawi
Caption: A youth works at a makeshift oil refinery site in Marchmarin town, southern countryside of Idlib, Syria December 16, 2015. REUTERS/Khalil Ashawi

Syria ’s state-owned petroleum company signed a memorandum of understanding with the US and Qatar on Wednesday for the development of the country’s first offshore oil and gas field.

Syrian Petroleum Company's deal with US energy giant Chevron and the Qatar-based Power International Holding was signed in Damascus in the presence of the US's special envoy to Syria, Tom Barrack, The AP news reported.

Syria's state news agency, SANA, said that the agreement aims to strengthen strategic partnerships in the energy sector and will cover cooperation in offshore exploration and the development of oil and gas resources in Syria’s territorial waters, as well as broader efforts to support investment and energy-sector development.

The deal marks Syria’s first formal step toward offshore energy exploration as the government seeks to expand hydrocarbon production and attract foreign partners.

Syria’s oil and gas sectors were adversely impacted by the country’s nearly 15-year conflict that killed half a million people and caused wide destruction.


Gold Extends Gains as Renewed US-Iran Tensions Fuel safe-haven Bid

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold Extends Gains as Renewed US-Iran Tensions Fuel safe-haven Bid

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold rose further on Wednesday after logging its biggest daily gain in 17 years in the previous session, as investors flocked to the safe-haven asset amid fresh US-Iran tensions.

Spot gold was up 2.2% at $5,046.47 per ounce, as of 1218 GMT, building on a 5.9% rise on Tuesday.

US gold futures for April delivery climbed 2.7% to $5,068.90 per ounce.

"It is a confluence of risk factors that's really driving the demand. One, there is that central bank independence question, and two, there's all the geopolitical risk aspects," said WisdomTree commodities strategist Nitesh Shah, Reuters reported.

The US military said on Tuesday it shot down an Iranian drone that "aggressively" approached the Abraham Lincoln aircraft carrier in the Arabian Sea. The incident came as diplomats sought to arrange nuclear talks between Iran and the United States.

Meanwhile, US President Donald Trump said on Monday that the investigation into Federal Reserve Chair Jerome Powell should be taken to the end, raising fresh concerns about the central bank's independence.

Gold is rebounding after tumbling nearly 10% on Monday, extending losses from Friday, in the sharpest two-day sell-off in decades. The rout was triggered by Trump's announcement of Kevin Warsh as his pick to lead the Fed and compounded by CME margin hikes. The metal is currently up over 17% for the year.

Market attention will be on the ADP private payrolls report, due later in the day, for clues into the Fed's policy path. Investors currently expect at least two rate cuts in 2026.

"With the Fed still expected to cut further rates this year, this should allow gold to reach $6,200/oz later this year," said UBS analyst Giovanni Staunovo.

Non-yielding bullion tends to perform better in low-interest-rate environments.

Meanwhile, spot silver rose 5.7% to $90 an ounce on Wednesday. The white metal hit a month-low of $71.33 on Monday following a record high of $121.64 on Thursday last week.

Spot platinum added 4% to $2,297.58 per ounce, while palladium gained 5.3% to $1,825.


Turkish Treasury Says Sold 2 Bln Euro of Eurobond, Lowest Spread in 15 Years

General view of the Istanbul Finance Center (Reuters)
General view of the Istanbul Finance Center (Reuters)
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Turkish Treasury Says Sold 2 Bln Euro of Eurobond, Lowest Spread in 15 Years

General view of the Istanbul Finance Center (Reuters)
General view of the Istanbul Finance Center (Reuters)

The Turkish Treasury said on Wednesday it sold 2 billion euros ($2.37 billion) worth of its latest 8-year eurobond at a yield of ‌5.20%, adding ‌that ‌it ⁠had the lowest ‌spread among euro-denominated issuances over the past 15 years.

The bond will mature on March ⁠10, 2034, Reuters quoted it as saying, ‌adding that the ‍yield ‍was below the ‍fair value implied by the dollar yield curve and was priced at approximately MS +242 basis points.

With this ⁠transaction, the total amount of funds raised from international capital markets in 2026 has reached approximately $5.9 billion, the Treasury said.