Saudi Oil Min.: Biggest Threat to Supply is Dearth of Investments

The biggest danger to satisfying global energy needs is a lack of investment, Saudi Arabian Oil Minister Ali Naimi told reporters at the 11th International Energy Forum.

Naimi followed the statement by saying that there are currently enough reserves to meet the world's energy demands for the next 50 years.

Also, Naimi said Saudi Arabia is in negotiations that would allow for more joint ventures with foreign oil companies. He offered no details about the potential join ventures.

We want to hear from you. Questions, opinions and suggestions are all welcomed by the Rigzone Staff. Write us at news@rigzone.com .

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
United States Houston: Principal II - DES
Expertise: Design Engineer|Drilling Engineering
Location: Houston, TX
 
Sr Reservoir / Production Engineer - Field Engineering
Expertise: Production Engineering
Location: Platteville, CO
 
Landman - Midstream Surface Land
Expertise: Landman
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours