Saudi Arabia Vows to Maintain Its Status as an Oil Giant

As Saudi Arabia prepares to tender 44 gigawatts (GW) of renewable energy projects, it will continue to maintain its oil-producing potential to ensure global energy security, officials from the Kingdom said at the annual investment forum in Riyadh on Tuesday. Saudi Arabia, the world’s biggest crude oil exporter, will keep its maximum sustainable capacity of 12.3 million barrels per day (bpd) going forward. By 2027, the Kingdom will have more than 1.1 million bpd of production of oilfields currently under development, which are expected to…