Putin calls for greater BRICS role in global energy markets

Russian President Vladimir Putin. ( Sputnik/AP)
Short Url
Updated 24 September 2024
Follow

Putin calls for greater BRICS role in global energy markets

  • Russian president speaks out ahead of important annual energy forum in Moscow

RIYADH: President Vladimir Putin called on Monday for a greater role for the BRICS bloc in global energy markets ahead of a significant annual energy forum this week in Russia.
“It is obvious that in the new geopolitical realities, cooperation in the energy sector should serve to strengthen national economies, help solve priority social problems, and improve people’s quality of life,” he said.
“It is crucial to agree on common principles for our countries in the just energy transition, and outline ways to strengthen the role of BRICS in the global energy dialogue.”

Russia is the world’s largest oil exporter after Saudi Arabia. From Thursday Moscow is hosting the three-day Energy Week International Forum. Saudi delegates have attended previous forums, but it is not clear if they will do so this year.

BRICS was founded in 2009 for Brazil, Russia, India and China to challenge a world order dominated by the US and Western allies. It has expanded into a geopolitical bloc that includes the UAE, Iran, Egypt, South Africa and Ethiopia. Saudi Arabia has an invitation to join, which it is considering.


Saudi energy minister holds series of high-level meetings to cement collaborations

Updated 16 January 2026
Follow

Saudi energy minister holds series of high-level meetings to cement collaborations

RIYADH: Saudi Arabia’s Minister of Energy held a series of strategic meetings in Riyadh with senior ministers from various counties, in a diplomatic push to bolster international energy collaboration.

Officials from Greece, Brazil, and Morocco were among those to meet with Prince Abdulaziz bin Salman, as well as representatives from Libya and Pakistan.

The discussions centered on expanding cooperation across a wide spectrum of energy sectors, from traditional hydrocarbons to cutting-edge clean technologies, according to the Saudi Press Agency.

The engagements underscored Saudi Arabia’s proactive role in shaping the global energy transition through bilateral partnerships. A consistent theme across the talks was the dual focus on securing energy supplies and advancing climate-related solutions, including renewable power, clean hydrogen, and carbon management.

Deepening European and South American ties

Prince Abdulaziz bin Salman met with Greece’s Minister of Environment and Energy, Stavros Papastavrou. Building upon a previously signed Memorandum of Understanding, the two officials explored avenues for joint cooperation in oil and gas, electricity, and renewables, as well as other related sectors.

In a separate meeting with Brazil’s Minister of Mines and Energy, Alexandre Silveira, the parties discussed prospects for collaboration across various energy domains. They reviewed means to enhance coordination, particularly in electricity, renewables, oil and gas, and the exchange of technical expertise.

Signing a program with Morocco

A key outcome emerged from the meeting with Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali. Following their discussions on mutual interests, investment opportunities in renewables, and energy efficiency, the two sides signed an executive cooperation program.

This program, falling under an MoU signed in May 2022, aims to concretize the energy partnership. Its goals are boosting mutual investments in renewable projects and enabling national companies to collaborate on renewable energy projects.

It also encompasses using renewables in development projects, establishing joint research and development centers, and facilitating training and knowledge transfer.

Strengthening regional and Islamic cooperation

Prince Abdulaziz also conferred with Libya’s Minister of Oil and Gas, Khalifa Rajab Abdulsadek. Their meeting focused on energy cooperation, including energy technologies and solutions, as well as enhancing investment opportunities in renewables and energy efficiency.

Discussions with Pakistan’s Minister of Petroleum, Ali Pervaiz Malik, covered shared interests in oil and its supplies, renewable energy, energy efficiency, joint investment opportunities, and the exchange of expertise in project, policy, and regulatory development.

This flurry of diplomatic activity highlights Saudi Arabia’s comprehensive energy strategy, which seeks to maintain its leadership in traditional energy markets while pursuing a stake in the future clean energy economy.