1999 News Story

Royal Commission President attends GWU energy seminar

President of the Royal Commission for Jubail and Yanbu Prince Abdullah Bin Faisal Bin Turki yesterday attended a seminar on energy organized by the College of Business Administration at George Washington University in Washington DC. The seminar attracted over 70 specialists, academics, World Bank and the U.S. Department of Energy officials, and representatives from concerned companies. 

In his speech, the Royal Commission President reiterated that the Kingdom's oil policy is based on maintaining market stability and a steady supply of petroleum, and pointed to the excellent reputation of the Kingdom's national oil company, Saudi Aramco. Another vital aspect of Saudi economy, he said, is the policy of privatization, adding that the country's consumer market is increasing every year. Referring to the fact that the world has become a global village, he urged foreign companies to invest in Saudi Arabia.