Energy minister calls for R&D on petrochemicals, renewables

Energy Minister Khalid Al-Falih addresses at the 21st St. Petersburg International Economic Forum (SPIEF) on Friday. (SPA)
Updated 04 June 2017
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Energy minister calls for R&D on petrochemicals, renewables

RIYADH: Khalid Al-Falih, minister of energy, industry and mineral resources, has urged attendees of an economic forum in St. Petersburg, Russia, to invest in research and development of petrochemicals and renewable energy, the Saudi Press Agency (SPA) said.
The minister, who was addressing the 21st St. Petersburg International Economic Forum (SPIEF) on Friday, stressed the key role played by new technologies in speeding up the diversification of energy sources and minimizing the current risks on climate.
Al-Falih joined the session titled “Mechanisms of Global Economy — Hydrocarbon Energy: Will it become a Legacy of the Past or Basics of Development?”
Speakers focused on the importance of commitment to the recent oil production reduction agreement between OPEC and non-OPEC members for another nine months.
The Saudi minister said OPEC and non-OPEC members in the reduction agreement will study the possibility of increasing the reduction rates in their meeting in November.
He ruled out that the global peak on oil demand will occur before 2050.
He also said Saudi Aramco will invest in the production of gas and liquefied natural gas (LNG) at the global level.
The forum speakers also stressed that oil will remain a key energy source in the long term and that it should not be looked at as the sole pollution source. They also emphasized the need to adopt a comprehensive plan to deal with climate change.
Since its launch in 1997, the forum has become a leading global platform for representatives of the business community to meet and discuss the key economic issues facing Russia, emerging markets and the world as a whole.
Over 12,000 participants attended the St. Petersburg International Economic Forum 2016, from 133 countries.


Saudi drivers to make racing history with debuts at Ad Diriyah

Updated 13 December 2018
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Saudi drivers to make racing history with debuts at Ad Diriyah

  • Two local heroes to take to the track in the first-ever Jaguar I-PACE eTROPHY contest for production-based electric cars
  • Ahmed Bin Khanen and Bandar Alesayi of the Saudi Racing team will be among the first drivers to test Ad Diriyah track

RIYADH: Saudi motorsport has never looked so good as two drivers prepare for a historic debut in the Jaguar I-PACE eTROPHY, the world’s first international championship for production-based electric cars, being launched at the racetrack created at the stunning UNESCO World Heritage site of Ad Diriyah.

Flying the flag for Saudi Arabia, the General Sports Authority (SAMF) and the Saudi Arabian Motor Federation (SAMF), Ahmed Bin Khanen and Bandar Alesayi of the Saudi Racing team will be among the first drivers to take to the track tomorrow.

Saudi fans can cheer them on during their free practice session at 3.45pm tomorrow (Friday, December 14), and see if they make it to the final of eTROPHY at 12.50pm on Saturday (December 15).

Ahmed Bin Khanen, Saudi Racing said: “It’s really great to be part of the Jaguar I-PACE eTROPHY Championship, especially as the first race is in Saudi Arabia with my family and friends. I hope to get a good race result and most importantly, make the race exciting for fans to watch.”

The Saturday eTrophy final precedes the main ABB FIA Formula E race, the 2018 ‘Saudia’ Ad Diriyah E-Prix.

Single-day tickets from Friday at SR330 are still available at www.ad-diriyah-eprix.com, along with three-day tickets from SR950.