Saudi Energy Minister pledges to increase oil shipments to the Old Continent

Saudi Arabia says it will help Europe to ease energy shortages

SPA - Abdelaziz bin Salman, Minister of Energy, Saudi Arabia

Saudi Energy Minister Abdelaziz bin Salman said on Tuesday that his country will help Europe to alleviate the impact of energy supply shortages caused by the war in Ukraine, despite OPEC+'s recent decision to reduce supply. 

"Of course Europe is now going through a critical stage and is witnessing a lot of problems in the supply chains, but we are working with them as one hand to make sure that we can help them in whatever they need," the Energy Minister said. 

Speaking on a panel at the Future Investment Initiative (FII), dubbed as the 'Davos of the desert' and opened today in Riyadh, the minister said, as an example, that "in September last year Saudi (oil company) Aramco supplied Europe with 490,000 barrels and this month Aramco supplied 950,000 barrels to Europe." 

"Where will we be in the coming months? Well, we will be in the same situation (...) we will be the supplier for all those who need us," he added. "We are very serious as a government and we are trying to be proactive and find solutions in this situation and work with European governments to ensure that we will provide whatever facilities are necessary," he stressed. 

The Saudi minister acknowledged, on the other hand, that "the world's loss of emergency reserves of energy resources would be painful in the coming months", but insisted that "Saudi Arabia is capable of achieving its objectives with positive results and (showing that) it is the most secure country for oil". 

On the chill between Saudi Arabia and the United States over the recent oil cut by the Organisation of Petroleum Exporting Countries and its ten external allies, known as OPEC+, after Washington said it would "review" its relations with Saudi Arabia, the minister simply said, smiling, that "we in the kingdom have preferred to be the more mature ones".

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