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New Saudi energy minister vows to continue with same oil policy

Xinhua, May 8, 2016 Adjust font size:

Saudi Arabia's newly appointed Energy Minister Khalid al-Falih said on Sunday that his country will keep up the same oil policy, Al Arabiya News reported.

Al-Falih was named energy minister on Saturday as part of a cabinet reshuffle to meet the requirements of the oil-rich kingdom's newly launched economic 2030 vision.

He replaced oil minister Ali Al Nuaimi who served in the post for the last 21 years.

Al-Falih stressed that his country will remain committed to maintaining its role in international energy markets and strengthening its position as the world's most reliable energy supplier.

He added that his ministry will reinforce energy supplies and diversity and enhance the efficiency of local energy consumption.

"The focus will be on the creation of new industries to increase the added value of the Saudi national economy," he said, stressing that his ministry will create job opportunities for Saudis and focus on renewable sources of energy. Endit