Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Renewable sources of energy needed to meet growing needs  Join our daily free Newsletter

MENAFN - Arab News - 30/04/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab News) Renewable energy sources including nuclear power are vital for the country's future energy needs experts said here on tuesday.

mahir al-oudan chief of research development and innovation at king abdul aziz city for atomic and renewable energy said that far from being a luxury the use of new forms of renewable energy has become a necessity.

he was speaking at the second scientific conference organized by the department of economics and management at king abdulaziz university.

'there are many reasons for this. saudi arabia consumes 3 million barrels of oil and huge quantities of gas a day for power generation and water desalination plants. on top of that energy use grows at a rate of 6 to 7 percent every year. some studies show that at this rate saudi arabia will consume 9 million barrels of oil a day by 2028" he said.

'when we use atomic energy for peaceful purposes this will create 43000 jobs. and investment in this segment of the economy will provide a high return. i urge players in the private sector such as banks other lenders and investment firms to cooperate with king abdul aziz city for atomic and renewable energy" he said.

the session was moderated by fawwaz al-alami the former undersecretary at the ministry of commerce and industry. participants stressed the need to develop new rules and regulations for energy investments to create incentives for the private sector.

they said the kingdom remains one of the world's highest consumers of oil and gas. they also called for a reduction in government subsidies for oil and gas consumers and said that large projects in the services sector should use clean energy instead of traditional fossil fuels.

several saudi experts have called for the creation of a ministry of energy in the country.


Arab News

  MENA News Headlines
 Oct 7 2015 - Decade of Gulf bond-market growth is fading as borrowers hold backGulf Times
(MENAFN - Gulf Times) Unless Gulf bond sales pick up in the fourth quarter, the market will shrink this year for the first time in a decade. And the prospects aren't looking good.Issuance from the ...

 Oct 7 2015 - Kuwaiti KIO's Torras Hostench wins USD21.31m court rulingMENAFN
(MENAFN) Kuwaiti and Spanish legal teams have won a court ruling of USD21.31 million for Torras Hostench, a subsidiary of the Kuwait Investment Office (KIO), Fatwa and Legislation Chairman Justice ...

 Oct 7 2015 - Abu Dhabi becomes first city in Middle East to feature in global guide on street designEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 7th October 2015 (WAM) -- The capital's streets are to feature in an international guide setting out the first ever worldwide standards for ...

 Oct 7 2015 - Two-try Macovei leads Romania to upset victoryGulf Times
(MENAFN - Gulf Times) Romania captain Mihai Macovei's two second-half tries led a remarkable comeback which climaxed in a 17-15 win over Canada in their World Cup Pool D match yesterday. Macovei's ...

 Oct 7 2015 - Qatar U-19 qualify for Asia Cup 2016Gulf Times
(MENAFN - Gulf Times) Qatar under-19 team qualified for the Asia Cup 2016, which will take place in Bahrain, after beating Oman 2-1 in the qualifiers held in Doha yesterday. ...

 Oct 7 2015 - UAE -Nahyan bin Mubarak receives delegations from Indonesia and ChinaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 7th October 2015 (WAM) -- Sheikh Nahyan bin Mubarak Al Nahyan Minister of Culture Youth and Community Development yesterday received a delegation ...

 Oct 7 2015 - Israel allows 900 trucks into GazaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) GAZA 7th October 2015 (WAM) -- Israeli occupation authorities have allowed the entry of 900 trucks loaded with aid into the Gaza Strip according to a report ...

 Oct 7 2015 - Ajman Ruler receives US Consul GeneralEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN 7th October 2015 (WAM) -- H.H. Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman today received Paul Malik US Consul-General ...

 Oct 7 2015 - Qatar enter semi-finalsGulf Times
(MENAFN - Gulf Times) Qatar were held to a 0-0 draw by Yemen in their final Group A at the WAFF U-23 championship at the Abdullah bin Khalifa Stadium yesterday. The hosts finished with seven points ...

 Oct 7 2015 - Organisers hope Doha Worlds 'will set a benchmark'Gulf Times
(MENAFN - Gulf Times) AIBA President Dr Ching-Kuo Wu was all praise for local organisers of the World Boxing Championships, led by the Qatar Boxing Federation in association with the Qatar Olympic ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help