Abdulaziz bin Salman: 5.8 Million Barrels of Oil Daily Cross 'East-West' Pipeline
Arabia - Saudi Energy and Industry and Mineral Resources Minister Prince Abdulaziz bin Salman stated that approximately 5.8 million barrels of oil are currently flowing through the East-West pipeline, noting that diversified logistical options have helped Saudi Arabia and Gulf countries manage the crises the region has experienced.
Bin Salman added, during a dialogue session at the "Made in the Gulf" conference in Bahrain, that Gulf countries have benefited from past crisis experiences, and that diversifying routes and logistical options were among the key factors enabling them to confront the repercussions of these crises.
He stated that efforts are underway to integrate the energy, industry, and mining systems, expecting the merger of these systems to be completed by the end of November.
The Energy Minister clarified that the directive is clear regarding the necessity of localizing everything related to the energy sector, noting that facilities in the industry, mining, and energy sectors will employ at least 70 percent Saudis. He added that localization provides flexibility and resilience, referring to the importance of strengthening local capacities and supply chains in the face of disruptions and crises.
Prince Abdulaziz bin Salman explained that the East-West pipeline has supported Saudi oil exports, with Aramco using technologies and materials to reduce pressure on the pipelines, thereby increasing export capacity to approximately 7 million barrels.
The Saudi Energy Minister said the East-West pipeline was restored just five to six days after it was attacked, adding, "We could not have returned this quickly without the localization program in the Kingdom."
He added that the Kingdom is seeking to localize everything related to the energy system, noting that the door is open for all Gulf Cooperation Council (GCC) countries to participate with Saudi Arabia.
Bin Salman clarified that "the most important lesson we have learned is to localize everything we need, which is a general rule whether in the energy sector or even in pharmaceuticals, food, and others."
He pointed out that the localization program relies on manufacturing and converting available raw materials into industries that meet the Kingdom's needs, while simultaneously supporting innovation across all sectors, particularly the industrial sector, to provide technologies aligned with the Kingdom's requirements.
He stated that merging the energy, industry, and mining systems contributes to enhancing the value added of these sectors in the Saudi economy, adding that focus will be placed on teamwork and utilizing all capabilities to enable these sectors to achieve their targets, with an emphasis on supporting innovation and the use of modern technologies.
Bin Salman continued, "We are the primary stakeholders in providing self-developed technologies that align with our needs, so as to move away from dependency and reliance solely on suppliers for technologies."
He clarified that the job localization program identifies the needs of various economic sectors and the required numbers, after which work is carried out with universities and vocational training institutes, providing programs aligned with the needs of these sectors.
