'Saudi Arabia, US cannot afford not to work together'

Energy minister Khalid al Falih says the kingdom may raise US oil investments

While Muslims across the world fear not being allowed to enter the United States, Saudi Arabian Oil Minister Khalid al Falih has said KSA's relationship with the US remains strong as ever.

US President Donald Trump signed last week an executive order suspending the arrival of all refugees for at least 120 days, Syrian refugees indefinitely - and barring citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen for 90 days.

“The relationship between Saudi Arabia and the US is very very strong, and at the end of the day, whether it's economic, people to people or geo-strategic, Saudi Arabia and the US cannot afford not to work together," Falig told BBC News in an interview broadcast on Wednesday.



Appreciating Trump's oil and gas policies, the minister said Saudi Arabia had invested billions of dollars in the American oil industry, adding that the investment may increase, depending on the "pro-industry, pro-oil and gas policy of the Trump administration".

"President Trump has policies which are good for the oil industry, and I think we have to acknowledge it. He has steered away from excessively anti-fossil fuels – unrealistic policies," Falih said.

"I think he wants a mixed energy portfolio, which included oil, gas, renewable energy, and make sure the American economy is competitive. We want the same in Saudi Arabia."



Last year Saudi Arabia unveiled sweeping plans aiming to end the kingdom's "addiction" to oil and transform it into a global investment power through a broad reform plan dubbed Vision 2030.

Falih said he was confident about the relationship between the two countries. "...I believe at the end of the day, the trump administration will do the right thing for the US."

"We want to do the right thing for Saudi Arabia and there are huge areas of alignment in our interest. The US is the biggest energy market," he reiterated.

Trump and Saudi Arabia's King Salman spoke by telephone on Sunday, agreeing to step up counter-terrorism and military cooperation and enhance economic relations, a senior Saudi source told Reuters.