DHAHRAN: The new Saudi Association for Energy Economics (SAEE) held its first formal gathering at the Plaza Conference Center here recently. Minister of Petroleum and Mineral Resources Ali Al-Naimi addressed the new organization and several members of Saudi Aramco executive management.
“The step we take today will have a direct impact on the future of the energy industry in our country,” he told the group, made up of Saudi Aramco and industry professionals.
“SAEE’s mission is to provide an interdisciplinary forum for the exchange of ideas, experiences and issues among business, academics, policymakers and other professionals interested in the field of energy economics,” said SAEE Vice President Mohammed Al-Tayyeb. He added that the association would promote the understanding and application of economics across all aspects of the energy supply chain.
“Given the central role energy plays in the Saudi economy, we strongly believe that such an affiliation will enhance the local understanding of the challenges facing the energy industry and provide a forum to debate and propose solutions to these challenges,” said Al-Tayyeb.
“There are many opportunities and challenges facing the energy industry,” the minister said. “SAEE is in a prime position to contribute toward these opportunities. It can join in forming studies and research into important issues such as the development of energy diversification in the Kingdom. Also, the association can collaborate with other organizations and research centers in working out how to maximize our economic benefit from the consumption and exportation of our petroleum products.”
Al-Tayyeb introduced the other SAEE council members: Mohammed Al-Sahlawi, SAEE president, is a professor in the finance and economics departments at King Fahd University of Petroleum and Minerals; he was unable to attend the inaugural meeting. The secretary is Nasser Al-Dossary, and treasurer is Fahad Al-Dhubaib, both economists for Saudi Aramco.
“I would like to extend my congratulations to everyone involved in the establishment of this association,” Al-Naimi said. “I hope that its future is filled with the same enthusiasm and dedication that it has enjoyed in its inauguration, and I hope many studies will be developed here that will aid the country’s energy industry in reaching its future goals and provide many opportunities for our future generations.”
SAEE is an affiliation of the International Association of Energy Economics (IAEE), which is a global, nonprofit organization founded in 1977 and based in the United States. IAEE has more than 3,000 members and more than 30 national affiliates around the world.