Saudi Energy Minister Prince Abdulaziz bin Salman said that the electrical interconnection project between Saudi Arabia and Iraq will support the Iraqi electrical network.
Prince Abdulaziz bin Salman added that the electrical connection between the Gulf countries and Iraq achieves tangible economic benefits.
He explained that the electrical interconnection project between the Gulf states and Iraq was a dream and has become a reality, saying: “The electrical interconnection project between the Gulf states and Iraq enhances energy security.”
In another context, Saudi Energy Minister Prince Abdulaziz bin Salman said, in an interview with Al-Arabiya, that we have no complexes regarding speculation in the oil market.
The minister added, in an interview with “energy markets” on the sidelines of the OPEC Plus meeting in Vienna, that the decision to cut oil production is a “precautionary” decision… saying: “Everyone agreed to cut production, and we did not oblige anyone.”
He explained that the oil market needs reassurances and measures to prevent fluctuations.
He continued, “We have no interest in the fluctuation of the oil market, whether in the short or long term.”
He pointed out that our mission is to give the oil market clear data for stability.
He stated that there are independent bodies that will work with the “OPEC +” countries regarding evaluating their production in 2024, saying: “The task of the independent bodies is to ensure the reliability of data for the oil market.”
And the minister indicated that the independent parties will end the previous controversy over production data in “OPEC +”.
The Saudi Energy Minister said that we had discussed with Russia the issue of its production, and we asked it to clarify its data, explaining: “Moscow’s decision not to publish production data is behind doubts about its volume.”
“Independent parties contacted Russia about its production and got the numbers, and we have strengthened the concept of transparency with Russia about its oil production numbers,” according to the Saudi energy minister.