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RIYADH – Dr Fatih Birol, the Executive Director of the International Energy Agency, met on Wednesday with H.E. Khalid A. Al-Falih, Saudi Arabia’s Minister of Energy, Industry and Mineral Resources, to discuss developments in global oil markets as well as cooperation between the IEA and Saudi Arabia.

The wide-ranging discussions centred on the need for further investment to meet demand growth, the crucial role of Saudi Arabia and its spare production capacity in supporting global oil market security, and deepening cooperation with the IEA on energy efficiency, renewables, and carbon capture, utilization and storage (CCUS).

Dr Birol’s meetings followed a visit in April to the IEA headquarters in Paris by Mr. Al-Falih, the first by a Saudi energy minister.

Dr Birol also had the opportunity to meet with HRH Prince Abdulaziz bin Salman to discuss Saudi Arabia’s drive to utilise all sources of energy to diversify the energy mix, promote efficiency and clean energy technologies.

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IEA Executive Director Dr Fatih Birol (left) and HRH Prince Abdulaziz bin Salman (Photograph: IEA)

During his two-day visit to Saudi Arabia, Dr Birol met with Saudi Aramco’s President and Chief Executive Officer, Amin H. Nasser, at the company’s headquarters in Dhahran. They discussed Aramco’s investments in energy and chemicals, as well as the company’s training programmes and its innovation and technology strategy. As part of his trip to the Eastern Province, Dr Birol travelled to Jubail, home of the world’s largest industrial city, where he toured a major CO₂ purification and utilisation project.

IEA Executive Director Dr Fatih Birol (left) and Saudi Aramco’s President and Chief Executive Officer, Amin H. Nasser (Photograph: IEA)

In Riyadh, Dr Birol visited the International Energy Forum headquarters, where he made a presentation on prospects for global energy markets to the diplomatic community, high-level Saudi officials and representatives of international business.

The Executive Director also held discussions with the leadership of the King Abdullah Petroleum Studies and Research Center (Kapsarc), with the King Abdullah City for Atomic and Renewable Energy (Ka-Care) and with SABIC, a leader in diversified chemicals production.