Global Energy Security Depends on Geopolitical Stability – Saudi Foreign Minister Tells WEF23
18.1.2023 15:04:00 EET | Business Wire | Press release
Geopolitical stability is “absolutely key” to global energy security, Saudi’s Foreign Minister told the World Economic Forum’s 2023 Annual Meeting in Davos on Tuesday.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230118005430/en/
Geopolitical stability “key” to energy security - HH Prince Faisal bin Farhan Al Saud (Photo: AETOSWire)
During a high-level panel titled ‘Keeping the Lights amid Geopolitical Fracture’, His Highness Prince Faisal bin Farhan Al Saud, Saudi Arabia’s Minister of Foreign Affairs, emphasized the need for near-term stability, especially in the world’s energy markets.
“The Kingdom is investing almost $200 billion in renewable energy at home and abroad. Our companies are active in 21 countries, deploying solar and wind energy and other sorts of renewable energy,” he said.
“In the meantime, we need to maintain a supply of traditional energies that are priced in a way that ensures stability – and we will continue to address this in a responsible way,” His Highness Prince Faisal added.
Meanwhile, His Excellency Bandar bin Ibrahim Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, participated in ‘The Return of Manufacturing’, where he highlighted the need for governments to foster innovation and co-investments in the industrial sector.
“You need the right regulatory framework to allow investment flow,” he said. Alkhorayef also emphasized the need for the right infrastructure to enable factories of the future, as well as the importance of governments to proactively develop skilled human capital to drive sustainable growth.
About the Kingdom of Saudi Arabia at the World Economic Forum 2023:
Saudi Arabia’s participation at the World Economic Forum Annual Meeting 2023 highlights the Kingdom’s commitment to engage in meaningful dialogues with other nations to design solutions for some of the world’s most pressing challenges. In recognizing the crucial role international cooperation plays in ensuring global stability, Saudi Arabia is stepping up its efforts on the world stage to act as a bridge of near-term stability and long-term transformation.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005430/en/
Contact information
Wooud Alquaied
walquaied@mep.gov.sa
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Meta Signs Agreement With AWS to Power Agentic AI on AWS Graviton Chips24.4.2026 15:10:00 EEST | Press release
Meta has signed an agreement to deploy AWS Graviton processors at scale. The deal marks a significant expansion of a long-standing partnership between the two companies as Meta builds its next generation of AI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260424641117/en/ The deployment starts with tens of millions of Graviton cores, with the flexibility to expand as Meta's AI capabilities grow. The deal reflects a shift in how AI infrastructure gets built: while GPUs remain essential for training large models, the rise of agentic AI is creating massive demand for CPU-intensive workloads—real-time reasoning, code generation, search, and orchestrating multi-step tasks. Graviton5 is purpose-built for these workloads, giving Meta the processing power to run them efficiently at scale. The chips will power various workloads at Meta, including supporting the company’s AI efforts. That work requires infrastructure that can handle
Meta Signs Agreement With AWS to Power Agentic AI on AWS Graviton Chips24.4.2026 15:10:00 EEST | Press release
Meta has signed an agreement to deploy AWS Graviton processors at scale. The deal marks a significant expansion of a long-standing partnership between the two companies as Meta builds its next generation of AI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260424641117/en/ The deployment starts with tens of millions of Graviton cores, with the flexibility to expand as Meta's AI capabilities grow. The deal reflects a shift in how AI infrastructure gets built: while GPUs remain essential for training large models, the rise of agentic AI is creating massive demand for CPU-intensive workloads—real-time reasoning, code generation, search, and orchestrating multi-step tasks. Graviton5 is purpose-built for these workloads, giving Meta the processing power to run them efficiently at scale. The chips will power various workloads at Meta, including supporting the company’s AI efforts. That work requires infrastructure that can handle
SLB Announces First-Quarter 2026 Results24.4.2026 13:50:00 EEST | Press release
SLB (NYSE: SLB) today announced results for the first-quarter 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260422463846/en/ The exterior of the SLB headquarters in Houston, Texas. First-Quarter Results (Stated in millions, except per share amounts)Three Months EndedChange Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Sequential Year-on-year Revenue $8,721 $9,745 $8,490 -11% 3% Income before taxes - GAAP basis $956 $943 $1,063 1% -10% Income before taxes margin - GAAP basis 11.0% 9.7% 12.5% 129 bps -156 bps Net income attributable to SLB - GAAP basis $752 $824 $797 -9% -6% Diluted EPS - GAAP basis $0.50 $0.55 $0.58 -9% -14% Adjusted EBITDA* $1,773 $2,331 $2,020 -24% -12% Adjusted EBITDA margin* 20.3% 23.9% 23.8% -358 bps -346 bps Pretax segment operating income* $1,321 $1,807 $1,556 -27% -15% Pretax segment operating margin* 15.2% 18.5% 18.3% -340 bps -318 bps Net income attributable to SLB, excluding charges & credits* $
SLB Announces First-Quarter 2026 Results24.4.2026 13:50:00 EEST | Press release
SLB (NYSE: SLB) today announced results for the first-quarter 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260422463846/en/ The exterior of the SLB headquarters in Houston, Texas. First-Quarter Results (Stated in millions, except per share amounts)Three Months EndedChange Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025 Sequential Year-on-year Revenue $8,721 $9,745 $8,490 -11% 3% Income before taxes - GAAP basis $956 $943 $1,063 1% -10% Income before taxes margin - GAAP basis 11.0% 9.7% 12.5% 129 bps -156 bps Net income attributable to SLB - GAAP basis $752 $824 $797 -9% -6% Diluted EPS - GAAP basis $0.50 $0.55 $0.58 -9% -14% Adjusted EBITDA* $1,773 $2,331 $2,020 -24% -12% Adjusted EBITDA margin* 20.3% 23.9% 23.8% -358 bps -346 bps Pretax segment operating income* $1,321 $1,807 $1,556 -27% -15% Pretax segment operating margin* 15.2% 18.5% 18.3% -340 bps -318 bps Net income attributable to SLB, excluding charges & credits* $
Sovereign AI for the World: Cohere and Aleph Alpha to Form Global AI Powerhouse as Nations and Enterprises Demand Control Over Their Technology24.4.2026 12:15:00 EEST | Press release
Cohere and Aleph Alpha, two trusted sovereign AI providers for governments and regulated industries, today announce their plan to join forces. This transatlantic alliance would combine Cohere’s global AI scale with Aleph Alpha’s strong research excellence and deep institutional relationships, forging a globally competitive AI champion backed by their Canadian and German ecosystems. The initiative reflects a shared vision: To provide the world with an independent, enterprise-grade sovereign alternative in an era of growing AI concentration and to ensure that organizations do not need to relinquish control over their own AI stack. The planned combined entity1 will function as a transatlantic AI powerhouse, anchored in Germany and Canada, empowering organizations to choose, deploy and govern AI according to local laws, cultural contexts, and institutional requirements. By pooling top-tier engineering talent and computational resources across two G7 nations, the partnership aims to signifi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom