2001 News Story

Oil minister speaks at follow-up of energy forum

Minister of Petroleum and Mineral Resources Ali Al-Naimi, speaking today at an event honoring those involved in the Seventh International Energy Forum held in Riyadh last November, remarked that the Kingdom has been seeking to deepen its international activities through its efforts within oil organizations such as OPEC and OAPEC, and by taking the initiative for holding conferences and symposiums in order to have a strong say in defining the topics, papers and researches to be discussed. Referring to the proposal by Deputy Prime Minister and Commander of the National Guard Crown Prince Abdullah bin Abdulaziz, he said the setting up of a permanent secretariat for the forum is the culmination of this effort, and a reflection of the plan to establish an international oil market characterized by cooperation, coordination, stability and understanding based on serious studies. The Kingdom, he said, can play a major role in the areas of oil production and export, possessing as it does one quarter of the known world reserves of petroleum.