Saudi Energy Minister: No One Can Break Saudi Arabia... We Are Developing New Pipelines

Saudi Energy Minister and Minister of Industry and Mineral Resources, Prince Abdulaziz bin Salman, affirmed that the Kingdom will continue to honor its commitments to global energy markets despite challenges, stressing that no one can break Saudi Arabia or shake its resolve to continue progressing.

During his opening address at the International Energy Forum in Riyadh, Prince Abdulaziz stated that Saudi Arabia is the capital of global energy security, adding, “No one can break our spirit. We are like the phoenix, rising from the ashes time and again.”

These remarks come as energy markets face disruptions caused by navigation disturbances in the Strait of Hormuz and the Red Sea, resulting from Iranian attacks and those of the affiliated Houthi group, highlighting once again the role of producing nations and their ability to meet their obligations to global markets.

Saudi oil exports have maintained high levels despite Iran’s escalation of attacks on navigation in the Strait of Hormuz and the continued Houthi attacks on Saudi territory. Average daily exports from the beginning of October reached the second-highest level since the outbreak of the war, following the average recorded in September, according to data from Kpler, an energy and commodities data provider.

Saudi oil exports averaged 5.31 million barrels per day from the start of October until now, compared to 7.12 million barrels per day in September, which was the highest monthly average since the war began and close to the 7.33 million barrels per day recorded in February, on the eve of the war, according to Kpler data reviewed by Al-Sharq Bloomberg.

In this context, Prince Abdulaziz emphasized that ensuring energy security is a daunting task that cannot be shouldered by a single country, but requires cooperation among all nations. He warned that a lack of coordination could lead each country to independently secure its supplies and production, whether from renewable energy sources or oil and gas.

He noted that “energy security is a complex task requiring coordinated cooperation among all countries, especially under current circumstances that underscore the need for international coordination to address energy security challenges.” He considered the current time appropriate for enhancing dialogue among all parties without discrimination.