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Saudi Arabia’s energy minister may attend St. Petersburg International Economic Forum

June 02, 15:37 UTC+3 VIENNA
Saudi Arabia’s Energy Minister Khalid al-Falih doesn't rule out meeting with Russia’s Energy Minister Alexander Novak at the forum
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Saudi Arabia’s Energy Minister Khalid al-Falih

Saudi Arabia’s Energy Minister Khalid al-Falih

© AP Photo/Ronald Zak

VIENNA, June 2. /TASS/. Saudi Arabia’s Energy Minister Khalid al-Falih does not rule out attending the St. Petersburg International Economic Forum and meeting Russia’s Energy Minister Alexander Novak.

"We’ve received an invitation. I’ll try my best," he said when asked whether he will participate in SPIEF this year. "It’s a beautiful city, I was there with my family last year," he added.

When asked when he would meet Alexander Novak he said: "Soon I hope."

In 2015, Saudi Deputy Crown Prince Mohammed bin Salman attended the St. Petersburg International Economic Forum and held talks with Russian President Vladimir Putin.

The volume of economic cooperation between Russia and Saudi Arabia, the world’s largest exporter of crude oil with leading positions in OPEC, has been minor until recently.

Saudi Arabia interested in participation of Russian investors in Saudi Aramco privatization

The minister has noted Saudi Arabia's interest in participation of Russian investors in Saudi Aramco privatization.

"Yes, we’re open to Russian investors," he said when asked whether Saudi Arabia is interested in Russian investors participating in privatization of Saudi Aramco, adding that the country "has long been cooperating with Russian companies."

According to Khalid al-Falih, all international investors are welcome to participate in Saudi Aramco privatization.

In January, it was reported that Saudi Arabia was considering holding an initial public offering (IPO) of its state oil company Saudi Aramco. The move is part of the county’s efforts to balance the budget against the backdrop of falling oil prices and tensions with Iran. According to officials, Saudi Aramco is worth "trillions of dollars", despite the fact that it is one of the most closed oil companies in the world, which provides no information about its income. The plan is to sell less than 5% of Aramco at the first stage.

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