
Calls for abandoning fossil fuels are unrealistic: Al Ghais
Oil and gas continue to be the dominant sources in the global energy mix, accounting for 50-60% of global consumption, Al Ghais told Asharq Business today, July 8.
He noted that while all forms of energy are needed, renewable sources currently contribute only 3-4% of the global energy supply.
Al Ghais also highlighted that many OPEC member countries are leading the way in renewable energy development.
He underscored the importance of keeping ideological considerations separate from energy discussions, in general.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Argaam
2 hours ago
- Argaam
Container handling leaps 19% to 697,000 TEUs in June: MAWANI
Saudi ports reported an 18.6% leap in cargo throughput tonnage to 696,800 tons in June 2025, compared to 587,300 tons in the same period a year ago. In a statement, the Saudi Ports Authority (MAWANI) said outbound containers surged by 35.9% to 165,000 in June, from 121,400 in the prior-year period. The number of inbound containers also increased by 10.6% to 263,300, compared to 237,800 in June 2024. Transshipment containers were up 17.79% to 268,600, compared to 228,000 TEUs a year earlier. The general cargo reached 922,300 tons in June, while solid bulk cargo and liquid bulk cargo reached 4.2 million and 16.3 million tons, respectively. Ports received 959,200 livestock heads for the same month, down 47.3% compared to 1.8 million in the same month of 2024. The maritime traffic saw a rise of 7.5% year-on-year (YoY) to 1,039 ships in June. The number of passengers also jumped 42.3% to 78,700 last month, compared to 55,300 last year. Meanwhile, the number of cars dropped by 25.4% YoY to 75,400 for the same month. The following table shows the performance of Saudi ports in June 2025: Saudi Ports Performance Item June 2024 June 2025 Growth TEUs ('000) 587.26 696.84 +19% Outbound Containers ('000) 228.03 268.59 +18% Inbound Containers ('000) 237.85 263.25 +11% Transshipment Containers ('000) 121.38 164.99 +36% Handling Tonnages (mln tons) 21.10 21.46 +2% Passengers ('000) 55.29 78.70 +42% Livestock ('000) 1821.86 959.19 (47.35%) Number of Vessels 966 1039 +8% Number of Vehicles ('000) 101.15 75.44 +25%


Arab News
3 hours ago
- Arab News
Cabinet commends HRC adoption of resolution to protect children in cyberspace
RIYADH: The Cabinet commended on Tuesday the Human Rights Council's unanimous adoption of a resolution submitted by the Kingdom to protect children in cyberspace. The resolution, submitted by Saudi Arabia, aims to protect children in cyberspace and is rooted in the global initiative 'Child Protection in Cyberspace' launched by Crown Prince Mohammed bin Salman in October 2024. The Cabinet said that Saudi Arabia maintaining its position as the top-ranked country in global cybersecurity according to this year's edition of the International Institute for Management Development World Competitiveness Yearbook adds to a series of achievements made by this sector in record time. Saudi Minister of State and Cabinet member Issam bin Saad bin Saeed said the Kingdom's first-place ranking globally in the ICT Development Index 2025 issued by the International Telecommunication Union is a confirmation of the strength of the its digital infrastructure. It was also testament to the attractiveness of its investment environment and the development of the local digital economy, which has reached SR 495 billion ($132 billion) in size, he added. The Cabinet also discussed the Kingdom's efforts and contributions at the international level to support multilateral action and enhance global economic growth rates, including continued cooperation with OPEC+ producers to maintain stability in oil markets. The crown prince also briefed the Cabinet on the contents of his discussions with the President of Indonesia Prabowo Subianto and a phone call he received from German Chancellor Friedrich Merz.


Argaam
5 hours ago
- Argaam
Saudi FII conference organizer eyes IPO: Report
Richard Attias & Associates, the organizer of Saudi Arabia's Future Investment Initiative (FII) summit is readying plans for a potential initial public offering. The events and advisory firm is working with banks including Evercore Inc. to prepare for a possible listing, Founder and Chairman Richard Attias told Bloomberg. An IPO could come as soon as next year, he said. Attias also said that 'Sanabil', the investment arm of the Public Investment Fund (PIF), owns about 75% of Richard Attias & Associates, while he holds the remaining stake.