MANAMA: Saudi Aramco has shown resilience, viability and preparedness for keep the oil supply intact without any interruption after it had partially shut down production of 5.7million barrels a day.
His Excellency Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil praised Aramco as a leader in oil production said that the attack on refinery caused a major damage however, Aramco manages the crisis in a very professional way by showing its sustainability and resilience to overcome the crisis.
His Excellency Oil Minister was speaking at the opening of Competitive Energy Systems Symposium Middle East 2019 which was held at the Diplomat Radisson Blu and addressed by the experts, industry leaders representing the region’s top national oil companies (NOCs).
“Aramco response to the post missile attack crisis was incredible by maintaining the crude supply intact despite a disruption of half of its production at the refinery,” HE said, adding that Aramco has been one of the key oil producing companies and there were lessons to learn for the coming generations that how the crisis was handled by Aramco.
“Aramco has a robust system in place to keep the business wheel moving despite some accident.”
His Excellency, the Oil Minister said that the region was facing many challenges related to environment, climate change and renewable energy related issues, adding that hydrocarbon would continue to be a major source of energy for many decades to come.
“The region’s governments are committed to address the challenges such as climate change and renewable energy and controlling the carbon footprint in line with the national strategies of GCC governments.”
“The solar energy is very competitive as it has huge cost savings in medium to long term and we have been working with number of companies, corporates and other stakeholders to avail the benefits of the renewable energy. The projects like carbon capture by the NOCs are few but very important steps in the right direction. Palm trees are consuming the CO2 in a huge way and can be helpful in formulating a strategy for future but such theories need scientific verification. Similarly, the Carbon Capture technology is deployed for the manufacturing of fertilizer and there are many other aspects such as artificial intelligence and training of the staff to achieve greater goals in this regard,” HE Minister added. Mahmood Rafique Editor
