Saudi Arabia no longer just an Oil Producing Country – Energy Minister

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman has in an interview with S&P Global Platts disclosed that the Gulf Nation is no longer just an oil-producing country but an energy-producing one.

Despite the statements, Saudi Arabia has recently hiked the selling price to Asian countries in July, the minister disclosed grand plans to go green under the “Saudi Green Initiative” through the sale of oil. Read his statement in part below:

“Not only are we 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,”

Saudi Arabia, however has plans to remain an oil dominant nation considering as the Energy Minister likened the International Energy Agency net-zero pathway as a sequel to the LaLa Land Movie.