ID :
10497
Sat, 06/21/2008 - 15:59
Auther :
Shortlink :
https://oananews.org//node/10497
The shortlink copeid
Saudi Leadership is keen on stable oil prices
Riyadh, June 21, SPA -- The Kingdom of Saudi Arabia looks forward
with great interest under the leadership of the Custodian of the Two
Holy Mosques King Abdullah bin Abdulaziz Al Saud and his Crown Prince
to the stability of oil prices in the world market to preserve the
interests of oil producers and consumers alike, to the continuing
growth of the global economy especially in developing countries, and
to achievement of prosperity for the peoples of the world.
The Kingdom of Saudi Arabia as the largest exporting country of
oil in the world will not spare any effort to achieve this objective.
Its oil policy always aims to enhance and strengthen cooperation and
dialogue with oil producing and consuming countries.
The pioneering positions undertaken by the Kingdom to maintain
the stability of oil prices embody its sincere desire for the market
stability, the balance between supply and demand and continuity of
oil flow safely to consumers.
The Third summit of leaders of OPEC meeting in Riyadh in November
2008, the meeting of ministers of energy of oil producing and
consuming countries to be held under the auspices of the Custodian of
the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud in Jeddah
tomorrow and the Kingdom's hosting of the headquarters of the General
Secretariat of the International Energy Forum demonstrate vivid
evidence of the Kingdom's keenness on the interests of producing and
importing oil countries, its continuing pursuit of the stability of
the global market despite its belief that the price of oil is set by
the various market factors of supply and demand, the level of
commercial stocks in consuming countries and the impact of political
turmoil and the behavior of speculators on the oil market.
In its meeting last Monday, the Saudi cabinet expressed its
appreciation for the global welcome, rapid response and willingness
to participate in Jeddah meeting of energy ministers of producers and
consumers on June 22.
As many as 35 countries will participate in the meeting at the level
of premiers, oil ministers and senior officials of member states of
the Organization of Petroleum Exporting Countries (OPEC) and non-
OPEC producing countries including Russia, the Kingdom of Norway,
Mexico and Brazil in addition to the major consuming countries
including the United States of America, Britain, Germany, France,
Japan, China, India, South Africa, and others, along with
representatives of more than 25 international oil companies, and
seven international organizations including the General Secretariat
of the Energy Forum, OPEC, the International Energy Agency, the
European Commission of Energy and International Monetary Fund.
It is scheduled that this meeting will discuss the situation of
international oil market, the current rise in oil prices, and how oil
producing and consuming countries, relevant international
organizations and main oil companies cooperate to deal with this
phenomenon, and to propose appropriate solutions to deal with it.
Comprehensive discussions on the meeting's agenda will be preceded by
an inaugural speech of the Custodian of the Two Holy Mosques King
Abdullah bin Abdulaziz Al Saud and an address by British Prime
Minister Gordon Brown followed by a closed-door meeting of the
participants.
After the meeting, the Minister of Petroleum and Mineral
Resources Ali Al-Naimi will hold a press conference with the
participation of Prince Abdulaziz bin Salman bin Abdulaziz, Assistant
Minister of Petroleum and Mineral Resources for Petroleum Affairs who
is also the head of the preparatory committee for the meeting, the
Executive Director of the International Energy Agency Nobuo Tanaka,
Secretary General of OPEC Abdullah Salem Al-Badri and the Secretary
General of the International Energy Forum, New Hollis.
On the following day of the meeting, media men participating in
the media coverage of the meeting will visit project of expansion and
development of Khurais plant, with a producing capacity of 1.2
million barrels per day of crude oil, making it the largest expansion
project for the production of crude oil in the history of the
Kingdom, and one of the largest projects implemented at the world
level which is expected to be accomplished in the middle of 2009.
with great interest under the leadership of the Custodian of the Two
Holy Mosques King Abdullah bin Abdulaziz Al Saud and his Crown Prince
to the stability of oil prices in the world market to preserve the
interests of oil producers and consumers alike, to the continuing
growth of the global economy especially in developing countries, and
to achievement of prosperity for the peoples of the world.
The Kingdom of Saudi Arabia as the largest exporting country of
oil in the world will not spare any effort to achieve this objective.
Its oil policy always aims to enhance and strengthen cooperation and
dialogue with oil producing and consuming countries.
The pioneering positions undertaken by the Kingdom to maintain
the stability of oil prices embody its sincere desire for the market
stability, the balance between supply and demand and continuity of
oil flow safely to consumers.
The Third summit of leaders of OPEC meeting in Riyadh in November
2008, the meeting of ministers of energy of oil producing and
consuming countries to be held under the auspices of the Custodian of
the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud in Jeddah
tomorrow and the Kingdom's hosting of the headquarters of the General
Secretariat of the International Energy Forum demonstrate vivid
evidence of the Kingdom's keenness on the interests of producing and
importing oil countries, its continuing pursuit of the stability of
the global market despite its belief that the price of oil is set by
the various market factors of supply and demand, the level of
commercial stocks in consuming countries and the impact of political
turmoil and the behavior of speculators on the oil market.
In its meeting last Monday, the Saudi cabinet expressed its
appreciation for the global welcome, rapid response and willingness
to participate in Jeddah meeting of energy ministers of producers and
consumers on June 22.
As many as 35 countries will participate in the meeting at the level
of premiers, oil ministers and senior officials of member states of
the Organization of Petroleum Exporting Countries (OPEC) and non-
OPEC producing countries including Russia, the Kingdom of Norway,
Mexico and Brazil in addition to the major consuming countries
including the United States of America, Britain, Germany, France,
Japan, China, India, South Africa, and others, along with
representatives of more than 25 international oil companies, and
seven international organizations including the General Secretariat
of the Energy Forum, OPEC, the International Energy Agency, the
European Commission of Energy and International Monetary Fund.
It is scheduled that this meeting will discuss the situation of
international oil market, the current rise in oil prices, and how oil
producing and consuming countries, relevant international
organizations and main oil companies cooperate to deal with this
phenomenon, and to propose appropriate solutions to deal with it.
Comprehensive discussions on the meeting's agenda will be preceded by
an inaugural speech of the Custodian of the Two Holy Mosques King
Abdullah bin Abdulaziz Al Saud and an address by British Prime
Minister Gordon Brown followed by a closed-door meeting of the
participants.
After the meeting, the Minister of Petroleum and Mineral
Resources Ali Al-Naimi will hold a press conference with the
participation of Prince Abdulaziz bin Salman bin Abdulaziz, Assistant
Minister of Petroleum and Mineral Resources for Petroleum Affairs who
is also the head of the preparatory committee for the meeting, the
Executive Director of the International Energy Agency Nobuo Tanaka,
Secretary General of OPEC Abdullah Salem Al-Badri and the Secretary
General of the International Energy Forum, New Hollis.
On the following day of the meeting, media men participating in
the media coverage of the meeting will visit project of expansion and
development of Khurais plant, with a producing capacity of 1.2
million barrels per day of crude oil, making it the largest expansion
project for the production of crude oil in the history of the
Kingdom, and one of the largest projects implemented at the world
level which is expected to be accomplished in the middle of 2009.
