Saudi Arabia no longer an oil country, it’s an energy-producing one: Minister

Published: Updated:
Enable Read mode
100% Font Size

“Saudi Arabia is no longer an oil country, it’s an energy-producing country,” the Kingdom’s Energy Minister Prince Abdulaziz bin Salman told reporters after OPEC+ ministers affirmed production levels through July.

“Not only we are an energy country, we are a very competitive energy country, and we are low-cost in producing oil, low cost in producing gas and low-cost in producing renewables and will definitely be the least-cost producer of hydrogen. I urge the world to accept this as a reality. We are going to be winners of all these activities,” Prince Abdulaziz was quoted as saying by S&P Global.


For all the latest headlines follow our Google News channel online or via the app.

Top oil exporter Saudi Arabia has raised the July official selling prices (OSPs) of most crude grades it sells to Asia, a pricing document showed on Thursday.

It set the July OSP for the flagship Arab light crude at $1.90 a barrel above the Oman/Dubai average for Asia, up 20 cents from June.

Saudi Arabia set its Arab Light OSP to northwest Europe at a discount of $1.90 a barrel against ICE Brent for July, compared with a discount of $2.90 for June, according to a document seen by Reuters.

The OSP to the United States was set at a premium of $1.05 a barrel over Argus Sour Crude Index (ASCI), unchanged from June.

(With inputs from Reuters)

Top Content Trending