Green projects to save 690,000 barrels of oil

Updated 27 May 2012

Green projects to save 690,000 barrels of oil

The renewable energy projects in Saudi Arabia will save some 690,000 barrels of oil per day (bpd) if completed, according to energy sources.
King Abdullah City for Atomic and Renewable Energy (KACARE) is set to invite bids to develop 2,850 MW of renewable energy projects in the Kingdom, according to local media.
The first phase of renewable energy projects will include development of 1,100 MW as photovoltaic solar, 900 MW as concentrated solar power, 650 MW as wind projects and 200 MW from other sources.
The second phase will be carried out in 2013-2014 where KACARE is targeting roughly 1,300MW of photovoltaic solar power capacity, 1,200MW of concentrated solar power, 1,050MW of wind power and 250MW in other renewable energy projects.
Upon completion, the renewable energy projects will save some 690,000 barrels a day (bpd) and will, hopefully, prolong life expectancy of oil reserves in the Kingdom which comes in line with the directives of Custodian of the Two Holy Mosques King Abdullah to focus on other alternative energy sources and diversification of the Kingdom's income, Saudi oil sources said.
Meanwhile, KACARE is intensifying efforts to implement its strategy aimed at raising share of other renewable energy sources by 50 percent for the Kingdom's overall energy needs by 2032 at the cost of SR 375 billion, the sources said.


Saudi Aramco appoints Mark Weinberger to Board of Directors

Updated 05 April 2020

Saudi Aramco appoints Mark Weinberger to Board of Directors

  • Weinberger, who replaces Andrew Gould, also serves as a director on the boards of Johnson & Johnson and Metlife
  • Weinberger was an active member of the US government, having worked across different administrations

DUBAI: Oil giant Saudi Aramco has appointed the former chairman of global firm EY (previously known as Ernst & Young) Mark Weinberger as an independent member to its board of directors, the company said in a statement.

Weinberger, who replaces Andrew Gould, also serves as a director on the boards of Johnson & Johnson and Metlife.

He is a member of several boards of trustees, including the United States Council for International Business (USCIB).

“I am honored to be joining the board of Aramco at this important time in the company’s history and world events,” Weinberger said.

Weinberger was an active member of the US government, having worked across different administrations – from George W. Bush to Donald Trump.