Energy Minister

Brazil exploring ways to import gas from Argentina’s Vaca Muerta play, energy minister says

March 22, 2024

Nasdaq HOUSTON – Brazil is exploring ways to import natural gas from Argentina’s massive Vaca Muerta formation, including the possible reversal of a pipeline now used for transporting Bolivian gas, as it looks to ease its gas deficit, Mines and Energy Minister Alexandre Silveira told Reuters on Thursday. Brazil has become Latin America’s largest crude oil producer, but its gas

Saudi energy minister pins Aramco’s oil capacity halt on green transition

February 12, 2024

CNBC Saudi’s state-controlled oil giant Aramco suspended its capacity expansion plans because of the green transition, Energy Minister Abdulaziz bin Salman said Monday, stressing that the future of energy security lies with renewables. “I think we postponed this [Aramco capacity] investment simply because … we’re transitioning. And transitioning means that even our oil company, which used to be an oil

Saudi Arabia’s energy minister tells short sellers to ‘watch out’

May 23, 2023

Oil Price Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman has warned traders, again, against shorting oil futures, less than two weeks before the OPEC+ panel on production policy meets on June 4. Prince Abdulaziz bin Salman promised oil speculators back in 2020, “I’m going to make sure whoever gambles on this market will be ouching like hell.” The OPEC+

Oman’s Energy Minister: It’s foolish to assume renewables can meet global demand

November 8, 2022

Oil Price The world’s energy needs will only grow, and it would be “foolish” to think that rising demand can be met with renewables alone, Oman’s Energy Minister Salim Al-Aufi told CNBC on Tuesday. Energy needs to be affordable and this is the first pillar of energy supply when the energy transition is concerned, the minister said. Oman’s official also defended, again,

UAE believes the oil industry is in “Decline Mode”

November 3, 2022

Oil Price Crude oil is in “decline mode” in the long term, OPEC heavyweight the United Arab Emirates (UAE) says. “To assume oil is going to be there forever is wishful thinking,” the UAE’s Energy Minister Suhail Al-Mazrouei said at the ADIPEC energy conference, as carried by Bloomberg. “No matter how much we defend it, it’s in decline mode,” said

Saudi energy minister says effective global oil cuts above 19 million bpd

April 13, 2020

Reuters DUBAI – Saudi Arabia’s energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves. OPEC and allies led by Russia, a group known as OPEC+, agreed on Sunday to a