BAKU, Azerbaijan, June 5. Saudi Aramco can transport seven million barrels of oil from Saudi Arabia's east coast to the west coast, enabling it to mitigate potential risks and ensure energy reliability, Saudi Aramco Senior Vice President Fahad K. Al Dhubaib said during the "Executive Talks: Energy Security 2.0" panel at the 29th Baku Energy Forum in Azerbaijan, TurkicWorld reports.
"Energy security has always been linked to geopolitics. In today’s global economy, our company, as one of the world’s leading energy producers, bears significant responsibility. We produce one out of every eight barrels of oil worldwide, which demands a serious commitment," he emphasized.
He highlighted that strategic planning, risk management, and reliability are core to the company's operations.
"Organizations must anticipate risks and invest proactively to prevent them and move forward. We invest heavily in infrastructure, especially pipelines. Our company can transport seven million barrels of oil from Saudi Arabia’s east coast to the west coast, allowing us to mitigate potential risks and ensure energy reliability. Additionally, we have oil storage facilities worldwide, enabling us to meet demand reliably, even amid unforeseen circumstances. Our reserve capacity and investments help us stabilize the global economy despite supply shocks and demand swings. Our efforts focus on ensuring the continuity of the energy system, a vital part of our contribution to the global economy," he added.
To note, over 600 delegates are participating in the forum, which began on June 5, representing a diverse range of countries including Australia, Austria, Belarus, Belgium, Bulgaria, China, the Czech Republic, Finland, France, Georgia, Hungary, India, Israel, Italy, Japan, Kazakhstan, Latvia, Monaco, the Netherlands, Norway, UAE, Qatar, Romania, Russia, Saudi Arabia, Slovenia, Sweden, Switzerland, Ukraine, the UK, the US, and Uzbekistan. This year's forum boasts a record number of speakers, totaling 81.
The Forum's agenda will address energy issues of significance for Azerbaijan and the broader Caspian region, focusing primarily on considerations and financing related to energy security, energy transition, and green energy projects.
