Handelsblatt Exclusive

Saudi Arabia's Uncertain Oil Future

Khalid Al Falih_Marko Priske for Handelsblatt
Khalid al-Falih in Berlin.
  • Why it matters

    Why it matters

    As Saudi Arabia’s energy minister and the chairman of Saudi Aramco, the world’s largest oil company, Khalid al-Falih is among the most important players on the global oil markets.

  • Facts


    • As part of its “Vision 2030” plan to revitalize its economy, Saudi Arabia is planning an IPO for state oil company Aramco.
    • Details are still uncertain and will “require a great deal of internal preparation,” al-Falih said.
    • He also emphasized that despite doubts from abroad, his country will “completely adhere” to climate protection goals reduce oil dependence.
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Times are changing in Saudi Arabia, where Energy Minister Khalid al-Falih told Handelsblatt that the leadership wants to reduce its dependency on oil and modernize its economy.

German companies will play a crucial role in this process, he said, citing this week’s announcement of a major deal with industrial giant Siemens to produce gas turbines for the country.

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