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Al-Naimi: Saudi Arabia will continue to be a stable supplier of crude oil to world markets for many decades 4 London

arching message here today: Saudi Arabia will continue to be a stable supplier of crude oil to world markets for many decades. We are continually investing in our oil and gas industry, as exemplified by our investment to increase production at our Manifa oil field. We are also making great strides towards diversifying our economy away from its over-reliance on fossil fuels. We are investing in our young people. We are giving them the opportunities they want to play an important part in the future economic prosperity and growth of our nation. We are taking unprecedented steps to ensure greater energy efficiency and we are investing in renewable sources of energy, particularly solar.
Ladies and gentlemen, the modern state of Saudi Arabia was founded in 1932, only a few years before I was born. At that point it was one of the poorest nations in the world. Today it is a member of the G20. Saudi Arabia has come a long way in a short space of time and is moving forward at a remarkable pace.
In this time of dynamic change, in the region, the world and the oil industry, Saudi Arabia is committed to fulfilling its international role. And it will continue to play its part by providing the energy required to fuel prosperity in the region and the world.
I would like to conclude by quoting that great British leader Winston Churchill, who was buried in a state funeral 47 years ago on this day, because it sums up my view. He said: "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
Ladies and gentlemen, I am an optimist. I say again that there is a great spirit of dynamism sweeping across Saudi Arabia. And I am sure that this will be a dynamic decade of growth in the region. Of course the world will face many difficulties and challenges over the coming year, but I am confident that, through dialogue, partnership and trust, they can be overcome. And finally, I am sure that together, we can create a lasting legacy of prosperity for the people of Saudi Arabia, the region and the world."


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