Petroleum and Mineral Resources Minister
Ali Al-Naimi has emphasized the Kingdom's commitment to cooperate with
both oil producers and consumers in efforts to stabilize the world
In a statement on the eve of an
International Energy Forum opening on Friday in Riyadh under the
auspices of the Saudi government, Al-Naimi said the energy conference
was intended to open channels of contacts and understanding between
producers and consumers.
He said the relationship between oil
consumers and producers must be supplementary. “The Kingdom has
always tried to play an active role in promoting international
cooperation,” he noted.
Al-Naimi pointed out that taxes
imposed on consumers (which accounted for 70 to 80 per cent of retail
price) were the main reason for the rise in oil prices.
“The basis of cooperation is
frankness and transparency, without leveling accusations and counter
accusations,” he said.
Abdullah Buraisin, a senior official
of the Ministry of Petroleum and Mineral Resources, said a total of 42
countries and nine international organizations, would participate in
the three-day forum to be co-sponsored by Japan and the Netherlands.
He said 377 delegates would attend the proceedings of the forum.
Prince Sultan bin Abdul Aziz, the second
Deputy Premier and Minister of Defense, Aviation and Inspector
General, has announced a donation of SR50 million which will serve as
a cornerstone for a National University - a private sector venture,
whose foundation stone is expected to be laid down next year.
Prince Sultan announced the donation
while attending as patron the opening ceremony of Prince Sultan
National College. In a speech at the ceremony, Prince Sultan said that
the state, under the leadership of Custodian of the Two Holy Mosques,
the Crown Prince and their government, would issue soon directives for
the establishment of national colleges and universities as commercial
operations. Prince Sultan stressed that university education in the
government or the private sectors must be based on two basic
“The education must include
teaching the principles ordained by the Islamic religion, the virtues
useful in developing the human resources and qualifying the citizen
for the work,” Prince Sultan said. He emphasized that knowledge and
education should be vocational.
For his part, Dr Ahmad bin Mohammad
Al-Saif, the Dean of the College, noted in his speech before the
ceremony that, in the current year, there are 442 students who are
pursuing their studies in the college. He added that 37 scholarships
have been presented by the private sector to the students who have