Saudi Aramco Says Renewable Energy Progress Is ’Faltering’

Progress in implementing renewable energy globally is “faltering” as companies have been slow in starting projects and some companies may fail, Saudi Arabian Oil Co. Chief Executive Officer Khali Al Falih said.

Energy producers “shouldn’t turn our backs on renewables” and the company, known as Saudi Aramco, is focusing on solar power, Al Falih said in a speech in Riyadh today. Nuclear power will be an important part of the future energy mix, he said.

To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Anthony DiPaola at adipaola@bloomberg.net

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