Saudi Energy Minister Says The “Demand Sustainability” program promotes the development of petroleum technologies

Saudi Energy Minister Prince Abdulaziz bin Salman affirmed that the “Sustainability of Oil Demand” program will enhance the development of demand for oil and gas and find additional uses for hydrocarbon products.

This came when the Minister of Energy and Chairman of the Supervisory Committee of the Oil Demand Sustainability Program signed a memorandum of understanding between the program and National Oilwell Varco NOV.

The memorandum aims to stimulate the gas and oil industry globally and support cooperation in it, by raising awareness of polymer-based products, setting standards to promote, encourage and use these products locally, regionally, and globally.

The memorandum, signed on behalf of the company by Clay C. Williams, Chairman, President, and CEO of National Oilwell Pharco, aims also to enhance cooperative efforts between the program and the company to support and encourage the use of non-metallic materials from an environmental and economic point of view and support the Kingdom’s position as a global supplier of petrochemicals.

The Minister of Energy commended the interest, follow-up, and support of Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of Defense, and Chairman of the Supreme Committee for Hydrocarbons, indicating that this ambitious program was cared for by an ambitious person who always seeks to develop the capabilities of this country, and seeks the help of an ambitious generation.

The Oil Demand Sustainability Program is a program under the supervision of the Supreme Committee for Hydrocarbon Affairs. The program has identified and given priority to about 50 initiatives in the sectors of transportation, benefits, and materials that promote sustainability, development, and innovation.

The program aims to enable the use of polymer-based materials and support the localization of chains supply of hydrocarbons, while National Oilwell Pharco provides technology-based solutions to enable the use of polymer-based materials across industries; especially as it is a leader in innovations and development in the non-metallic materials sector.