Ministry Of Energy Industry And Mineral Resources Jeddah

Jeddah the ministry of energy industry and mineral resources in saudi arabia announced willingness to launch more investment licenses in the mining sector for the purpose of developing the domain and increasing its contribution to usd25 billion by 2020 amid rising interest of foreign investors in exploiting opportunities.

Ministry of energy industry and mineral resources jeddah.

Bandar alkhorayef was sworn in at a ceremony at the al salam palace in jeddah. The new ministry will assume its duties at the beginning of the 2020 fiscal year. The ministry of energy and resources develops co ordinates and implements policies and programs to promote the growth and responsible development of the province s natural resources industries. As part of the changes fahd bin mohammed al essa was appointed head of the royal court with the rank.

The ministry of industry and mineral resources is a saudi government body responsible for the industry and mineral resources operations. The nrep is managed and executed by the ministry of energy industry and mineral resources meim directly supporting saudi arabia s vision 2030. The ministry aims to diversify the economy of the. The ministry of energy industry and mineral resources will be renamed the ministry of energy.

King salman had issued a royal decree on friday to set up a new ministry of industry and mineral resources separating it from the ministry of energy. The ministry of industry and mineral resources concerns with supervising the industrial and mining sectors in the kingdom of saudi arabia encouraging investors therein discovering and exploiting the kingdom s mineral resources and achieving the highest returns. The ministry operates as the primary regulatory authority for the oil and gas industry and ensures competitive royalty systems regulations and policies for all natural resource sectors. The ministry was established on 30 august 2019 after the separation of the ministry of energy industry and mineral resources into the ministry of energy and the ministry of industry and mineral resources.

In august 2019 king salman issued a royal decree and divided the ministry into two ministry of industry and mineral resources and ministry of energy. Ministry of energy industry and mineral resources located in jeddah in saudi arabia kingdom this ministry was formerly known as the ministry of petroleum and mineral resources and in 2016 was changed the name to become ministry of energy industry and mineral resources.