Policy & Regulation

Saudi energy minister urges investment in oil and gas

Saudi Arabia’s energy minister has urged countries to continue to invest in oil and gas despite lower prices.
By Staff reporter 8 March 2017 0 24644

Saudi Arabia’s energy minister has urged countries to continue to invest in oil and gas despite lower prices.

"Despite the recent downturn, we’ve kept up our capital spending," Khalid al-Falih said at the CERAWeek conference in Houston on Tuesday.

"That has resulted in our drilling rig count remaining near an all-time record as we maintain our maximum sustainable capacity for crude oil and work to double our gas capacity, while also building the world’s largest downstream portfolio," he added.

Saudi Arabia, along with several other states in the...