Saudis Lead Gulf Movement To Diversify Away From Oil

2 Oct 2017   Saudi Arabia

With the Saudi Aramco initial public offering set to debut on international markets in 2018, the oil world is watching closely as the OPEC leader transforms its economy under Crown Prince Mohammad bin Salman’s Vision 2030 plan. But the KSA isn’t the only Gulf nation gearing up for a radical change in its energy formula. The United Arab Emirates is setting its sights on nuclear power to ensure the small nation can meet demand in the coming years, energy minister Suhail Al Mazroui told reporters this week. The Middle East’s first nuclear power plant should go live in the UAE in 2018, as the nation prepares to host an international ministerial summit on the power source at the end of next month. The International Atomic Energy Agency (IAEA) conference in the UAE signifies global “recognition” of the country’s “successful efforts” in developing a peaceful nuclear power program, Al Mazroui […]

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