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_(cropped).jpg) Abdulaziz bin Salman Al Saud, the current Minister of Energy since 2019 | |
| Ministerial Department overview | |
|---|---|
| Formed | 1 December 1960; 64 years ago (1960-12-01) |
| Preceding agencies |
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| Jurisdiction | Government of Saudi Arabia |
| Headquarters | Riyadh, Saudi Arabia |
| Minister responsible |
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| Website | Official English website |
TheMinistry of Energy (Arabic:وزارة الطاقة) is agovernment ministry inSaudi Arabia and part ofthe cabinet. It is responsible for developing and implementing policies concerningpetroleum andrelated products. The Ministry of Energy is working to diversify thenational energy mix used inelectricity production, increasing the share ofnatural gas andrenewable energy sources to approximately 50% by2030 while reducing the use ofliquid fuel.[1]
In August 2019,King Salman issued a royal decree and divided the Ministry of Petroleum and Mineral Resources into two:Ministry of Industry and Mineral Resources, and Ministry of Energy. WhileKhalid al-Falih still remained the energy minister, business executive Bandar Al-Khorayef was named as the minister of natural resources.[2][3] However, on 8 September 2019, a royal decree was issued to appointAbdulaziz bin Salman Al Saud as the energy minister.[4]
The ministry was established in December 1960.[5][6] Prior to the formation of the ministry policies regarding oil production and planning were overseen by the directorate general of petroleum and mineral affairs which was attached to the ministry of finance.[7] Then the directorate was converted into the ministry.[7] The ministry was named the Ministry of Petroleum and Mineral Resources until May 2016 when it was renamed as the Ministry of Energy, Industry and Mineral Resources.[8][9] In August 2019, the Ministry was separated into the Ministry of Energy and the Ministry of Industry and Mineral Resources.[3]
Since 1960 the ministry was headed by the following six ministers:
The ministry is primarily responsible for the policies concerning oil and gas in the country which is the world's largest holder of crude oil reserves.[13] One of the agencies with which the ministry works isPetromin, the general petroleum and mineral organization.[6] ThroughSaudi Arabian Basic Industries Company (SABIC), established in 1976, the ministry oversaw the operation ofpetrochemicals and otherheavy industry projects.[7]
In 2019, the Minister inaugurated the launching ceremony of the Saudi scientific vessel, called “Najil” inJubail port,Eastern Province. The main aim of the vessel is to conduct marine-related researches in thePersian Gulf and theRed Sea.[1]
In 2019, and on the sidelines of the Saudi crown prince’s visit to India, the Minister of Energy, Industry and Mineral Resources signed a MOU to partner with theInternational Solar Alliance (ISA) and projects in fertilizers, pharmaceuticals and medical supplies.[14]
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