Russia's President Vladimir Putin and Saudi Arabia's King Salman bin Abdulaziz Al Saud, in a telephone conversation, stated continuing their support for coordinating the global energy markets, the Kremlin said.
Saudi Arabia’s government plans to invest around $27 B on an industrial development program during 2019 and 2020 to offer more investment opportunities.
Saudi Aramco plans to invest up to $1.6 billion to acquire around 20% stake in South Korean refiner Hyundai Oilbank.
Total announced arranging several plans to invest in gas filling stations in Saudi Arabia.
Saudi Arabia's plan comes as part of the $10 billion investments to be in the Kingdom.
Saudi Arabia plans to expand the regional gas network especially after the increase in the Kingdom’s estimates of energy reserves.
Oil demand will remain strong without being affected by US-China trade tensions, said Khalid Al-Falih, Saudi Arabia’s Oil Minister.
Saudi Arabia plans to integrate the renewable energy network to produce 60 GW of renewable energy, 40GW from solar power and 20GW from wind and other sources, by 2030.
The refinery is set to be established in Pakistan's deepwater port of Gwadar.
Saudi reserves increased by 2.2 billion barrels to 263.1 billion barrels of oil at the end of 2017, while natural gas reserves rose to 319.5 trillion cubic feet.
