Saudi Press

Saudi Arabia and the world
Saturday, Aug 30, 2025

Energy minister: Saudi Arabia has an ambitious program as an alternative for oil

Energy minister: Saudi Arabia has an ambitious program as an alternative for oil

Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia has an ambitious program to find alternatives for petroleum in the event of a decrease in demand for it in the future through the production of final consumables.
He made the remarks on Wednesday while attending a dialogue session on the National Strategy for Industry, launched by Crown Prince and Prime Minister Mohammed bin Salman the previous day. Four ministers attended the session.

“We have wasted 40 years during which we could have been like India and China,” he said while emphasizing that the work of ministries individually was ‘over’.

Prince Abdulaziz said that Saudi Arabia has a program to make available gas in many regions across the Kingdom, including the delivery of gas in the industrial city of Jazan.

“Investments will contribute to the establishment of factories so as to benefit from them in localization. When SABIC started, the petrochemical industry was a limited sector, and now we produce 38 million tons in the manufacturing industries, though we benefit only from 6 million tons,” he said.

Prince Abdulaziz noted that there is an increase in the demand for petrochemicals by six percent. Replying to queries, he said that a new program will be launched, allowing factories to benefit from the current gas prices for a period of three years.

Taking part in the dialogue session, Minister of Industry Bandar Alkhorayef said: “The National Strategy for Industry carried many goals and did not focus on numbers only, but on advanced quality industries that we compete with globally. Around 300 officials in the private sector were hired to formulate the strategy, and each goal was based on detailed studies.”

The minister stressed that the importance of the strategy lies in drawing a road map for the future of the industry and doubling its contribution to the gross domestic product (GDP) three times, reaching SR900 billion.

Alkhorayef indicated that the benefits of the National Strategy for Industry will touch every member of society, as it will concern young people who are looking for quality job opportunities and creativity.

The industrial sector is one of the pillars of the Saudi Vision 2030, and receives great attention from the wise leadership, as the National Industrial Development and Logistics Program was launched and an independent ministry was established to take care of the sector.

Crown Prince Mohammed bin Salman launched on Tuesday the National Industrial Strategy to realize the objectives of the Saudi Vision 2030. The strategy focuses on 12 sub-sectors to diversify the Kingdom’s industrial economy while identifying more than 800 investment opportunities worth SR1 trillion.

The strategy aims to accomplish an industrial economy that attracts investments, which contributes to achieving economic diversification, and developing domestic product and non-oil exports, in line with the objectives of the Saudi Vision 2030, as the industrial sector is one of the pillars of the Vision.

The strategy is also working to bring the total value of additional investments in the sector to SR1.3 trillion, and to increase exports of advanced technology products by about six times, in addition to creating tens of thousands of quality jobs of high value.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
×