Saudi energy minister commits to crude capacity levels and climate targets

 

FILE – Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman attends the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 6, 2024.

RIYADH —

Saudi Arabia is "committed" to maintaining crude capacity at 12.3 million barrels per day, Energy Minister Prince Abulaziz bin Salman said on Tuesday.

Speaking at the Future Investment Initiative (FII) conference in Riyadh, he said the world\’s largest oil exporter would maintain its crude targets while also pursuing its climate aims.

"We will monetize every molecule of energy this land has, period," Prince Abdulaziz said. That policy would be carried out hand in hand with other goals, such as emission reduction, he added.

"We are committed to maintaining 12.3 million (barrels per day) of crude capacity and we are proud of that," he said.

He was speaking ahead of an announcement, expected on Tuesday, about a carbon credit exchange involving the kingdom\’s sovereign wealth fund.

Saudi Arabia backed a deal at last year\’s U.N. climate conference, COP28, giving countries more leeway to follow their own pathways to cleaner sources of energy.

Reuters

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By：VOA