Official: Saudi-Japanese energy relationship is enormously important

…Al-Tubayyeb addressed issues relevant to Japan, which is the second largest economy in the world and receives 30 percent of its energy supplies through Saudi Aramco – about 1.2 million barrels per day of crude oil, in addition to LPG, naphtha and condensates.

…He said the abundant supply of conventional oil resources will provide sustainable energy for a long time. “The amount of conventional oil-in-place worldwide is estimated at between 6 and 8 trillion barrels,” he said. “The world does not have to worry about (peak oil) for many decades to come.”


But he also stressed the importance of balancing energy consumption with environmental concerns. “We must balance the need for energy with the imperative to protect our planet and preserve its delicate natural ecosystems,” he said.

Al-Tubayyeb told the students Saudi Aramco, its counterparts in the Japanese oil industry and the rest of the world are hard at work developing solutions to these and other challenges. “The vital nature of your role is why I felt it was so important to address this audience and why I consider it such a privilege to have the opportunity to be here.”

MENAFN