Abu Dhabi: Saudi Arabia’s energy minister does not see any threat to demand for oil due to the development of renewable energy.
Speaking to reporters in Abu Dhabi, Khalid Al Falih said oil will continue to play a major role in the energy mix and the demand will continue to grow.
“I am not concerned about the role of renewables. Renewables are going to primarily displace sources like coal.”
“As renewables come in large scale, which will take time by the way, into utilities and stationary applications, its energy does not in my opinion conflict with the role of oil in energy mix. We are still primarily into transport and chemicals that will continue to grow.”