June 22, 2024
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Azerbaijan and Saudi Arabia Discuss Joint Opportunities in Energy Sector

Azerbaijani Minister of Economy Mikayil Jabbarov has discussed possibilities for joint activities in the energy sector with President and CEO of Saudi Aramco Amin H. Nasser, according to reports via the minister’s post on X.

“During our visit to the Kingdom of Saudi Arabia, we met with Amin H. Nasser, the President and CEO of Saudi Aramco. We touched upon the conditions available for foreign investors in our country, the opportunities for joint activities in the energy sector, and the potential for collaboration in production projects,” the minister said.

Saudi Aramco,  is a state-owned giant in the petroleum and natural gas sector, serving as Saudi Arabia’s national oil company. Formally known as the Saudi Arabian Oil Group or simply Aramco, the firm ranks as the world’s second-largest company by revenue, as of 2022.

Azerbaijan and Saudi Arabia, have recently discussed prospects for energy cooperation, when the Azerbaijani Energy Minister Natig Aliyev met with Saudi Minister of Energy, Industry and Natural Resources Khalid Abdulaziz Al-Falih.

Aliyev pointed out joint efforts made by Azerbaijan and Saudi Arabia to stabilize oil prices on the market under a strategy of the Organization of Petroleum Exporting Countries and non-OPEC countries.

Al-Falih commended Azerbaijan`s contribution to efforts to increase oil prices. The Saudi minister expressed his country`s interest in expanding ties with Azerbaijan.

 

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