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Saudi's Falih says domestic energy price rise still being finalised
December 22, 2016 / 5:30 PM / a year ago

Saudi's Falih says domestic energy price rise still being finalised

RIYADH (Reuters) - Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that it would take some time to finalize new domestic energy prices but the changes would be implemented in 2017.

Saudi Arabia's Energy Minister Khalid al-Falih adjusts his glasses during a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, December 10, 2016. REUTERS/Heinz-Peter Bader

“Energy price increases will be implemented this year. It will not happen in the next month to two months - I can’t tell you when, but it will happen in 2017,” Falih said at the 2017 budget news conference in Riyadh.

A rise in local natural gas prices will not happen before 2019, Falih added.

Reporting by Reem Shamseddine; Writing by Rania El Gamal; Edited by Andrew Torchia

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