ID :
36672
Sat, 12/20/2008 - 08:43
Auther :

Al-Naimi addresses London Energy Ministers Meeting 9 London

Ladies and gentlemen, the energy industry is one that drives growth
and opportunity. Where would our world be today without petroleum,
which has fueled tremendous progress for the past century ? I have
discussed in many venues how Saudi Arabia is committed to our
mega-projects that will increase our maximum sustained production
capacity from just over 11 million barrels per day now to 12.5
million barrels per day by next year, and how we will continue to
expand refining capacity in Saudi Arabia and in key markets around
the world.

Here I want to reassert Saudi Arabia's commitment to this
unparalleled expansion. We will proceed undeterred by financial and
economic conditions: we are committed to investing to help ensure an
uninterrupted supply of energy to the world. Our national oil
company, Saudi Aramco, was recently cited by the International Energy
Agency in their just-released, long-term Outlook as an entity well
placed to address financing, technical and managerial challenges in
meeting our share of the world's energy needs well into the future. I
believe that many other success stories are present among the
National and International Oil companies that make up our industry,
and that this success can and should be mirrored throughout our
business.
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