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Interview with Ann Marie - Bloomberg

M050 · 2021-07-05 · تفريغ نصي لمشاركة إعلامية لسمو وزير الطاقة

المعرّف / ID
M050
المناسبة / Event
Interview with Ann Marie - Bloomberg
التاريخ / Date
2021-07-05
لغة المشاركة / Language
EN
التسجيل الأصلي / Recording
https://www.youtube.com/watch?v=rzgcAgLj2Ak
نوع النص / Text type
تفريغ نصي غير رسمي — unofficial transcript
عدد المقاطع / Segments
13 (منها 7 لسمو الوزير)

للاستشهاد: اذكر معرّف المقطع (مثل M050-01) واسم المناسبة والتاريخ والتوقيت ورابط التسجيل. المقاطع المعلَّمة «سمو وزير الطاقة» فقط هي ما نُسب إلى سموه في التفريغ؛ ما سواها لمتحدثين آخرين. التوقيتات تقريبية حسب التفريغ.

To cite: give the segment ID (e.g. M050-01), event, date, timestamp and recording link. Only segments marked “HRH the Minister of Energy” are attributed to the Minister in the transcript. Timestamps are approximate.

النص / Transcript

[M050-01] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:00 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

I would emphasize that it is the whole group versus one country, which is sad to me, but this is the reality today.

[M050-02] · متحدث آخر: الصحفية آن ماري (other speaker — not the Minister) · التوقيت 00:00:12 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

And how concerned are you, if there is no agreement, and potentially we could see what we saw last year, which becomes a price war.

[M050-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:26 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

We have an existing agreement, Mary, I keep reminding people, unlike what you had in March, we have an existing agreement. We will honor that agreement, we will continue with it. The agreement requires that we bring more production, yes, but to complete that honoring agreement, we should kick start what is mentioned in that agreement, which is we have to extend. Again, the extension puts a lot of people in their comfort zone, it brings volumes to address the short term, but it also address for the market, check with all those who are participants in this market, tell them.

[M050-04] · متحدث آخر: الصحفية آن ماري (other speaker — not the Minister) · التوقيت 00:01:11 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

The current agreement, if not extended, has no production increase for August. So if not every member signs up tomorrow, what happens in August?

[M050-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:22 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

Well, It is your chance to have another may be interview with me tomorrow or after tomorrow, depends on how we will finish.

[M050-06] · متحدث آخر: الصحفية آن ماري (other speaker — not the Minister) · التوقيت 00:01:32 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

Are you worried, we could see a massive spike in prices cause the market is in need of more supply for the month of August.

[M050-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:42 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

If some people would like to have that, they can do that. Is it our intent? No, because if it is our intent, why would we do the proposal and why we would work with our colleagues? It has been a two months affair.

[M050-08] · متحدث آخر: الصحفية آن ماري (other speaker — not the Minister) · التوقيت 00:01:59 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

If you are on board with the proposal Russia and the rest of OPEC is, and there is just one hold down and that is the UAE, will you continue to increase by 400,000 barrels a day without the UAE on board?

[M050-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:11 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

We cannot because it is an agreement that is done by consensus.

[M050-10] · متحدث آخر: الصحفية آن ماري (other speaker — not the Minister) · التوقيت 00:02:18 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

So does this dispute have the potential to bring an end to OPEC plus?

[M050-11] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:24 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

Why we should it to, if you have 20 countries are in agreement, why we should it to, can I give you a sequel remember that other sequel, in March we did not have an agreement, but the situation did lactated that people can sit back, talk about seriously, how to attend this situation, it is very simple.

[M050-12] · متحدث آخر: الصحفية آن ماري (other speaker — not the Minister) · التوقيت 00:02:55 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

But OPEC Plus needs a consensus or it cannot work, so if the UAE does not sign up, you say that there will not an agreement, but you also are saying that this dispute cannot mean the end of OPEC Plus does this mean potentially we could see an exit by the United Arab Emirates?

[M050-13] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:13 · Interview with Ann Marie - Bloomberg · 2021-07-05 · مشاهدة عند هذا التوقيت

What speculative for all of us is why they do not, they have never brought that complaint before, even after signing immediate or before signing the April agreement. They have never brought to that complaint, they have never dug their feet on an issue like this ever since. Why now? It is an extension of not an eight years, it is an extension of eight months and there is a solid logic behind it, as I explained, and as it has been accepted by everybody.