Saudi Arabia is Committed to Petroleum Availability in Global

Tokyo, April 26, SPA -- The Minister of Petroleum and Mineral
Resources Ali bin Ibrahim Al-Naimi has reaffirmed that Saudi Arabia
is committed to the availability of petroleum to global markets,
especially for developing and emerging countries, pointing out that
this pledge is backed by concrete plans and actions, and by the
commitment of some $70 billion for capital projects.

Al-Naimi made these remarks in the following speech at the 3rd Asian
Ministerial Energy Roundtable in Tokyo today:

"Your Excellencies, Ministers and Heads of Delegations,
distinguished guests, ladies and gentlemen, good morning.

Let me begin by thanking the government of Japan for hosting this
third Asian ministerial roundtable for the discussion of long-term
oil market stability, conservation, and other vital energy issues.
We appreciate this initiative’s forum for frank and thoughtful
dialogue between Asia’s resource-producing and -consuming nations,
and the reassuring message it sends on our cooperation. I also thank
the government of Qatar for co-hosting this important gathering.

Ladies and gentlemen, when our last Asian roundtable convened in
Riyadh in 2007, we recognized Asia’s growing significance to the
global economy and to energy markets, and emphasized the importance
of Asia’s participation in the International Energy Forum dialogue.
Two years later, the deepest recession in 80 years complicates the
energy scene.