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Saudi Arabia's Aramco halts expansion plans, embraces renewable energy transition

Saudi Arabia's state-controlled oil company Aramco has suspended its capacity expansion plans, citing a shift towards renewable energy.

Saudi Arabia's Aramco halts expansion plans, embraces renewable energy transition

In a significant shift towards renewable energy, Saudi Arabia's state-controlled oil giant Aramco has announced the suspension of its capacity expansion plans. Saudi Energy Minister Abdulaziz bin Salman revealed this decision on Monday, emphasizing that the future of energy security hinges on embracing renewables.

Saudi Arabia's state-controlled oil company Aramco has suspended its capacity expansion plans, citing a shift towards renewable energy. The decision was made after careful market scrutiny, highlighting the global trend towards decarbonization and climate change.

The Saudi Energy Minister stressed that energy security is a collective responsibility, involving all energy producers and ministries worldwide. The kingdom is committed to reducing carbon emissions to zero by 2050 and diversifying its economy to combat over-reliance on fossil fuels.

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