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Al-Naimi affirms Saudi commitment to stable world market
Riyadh, 15 November 2000
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 economy.

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.

Source: SPA

Prince Sultan donates SR50 million for national university
Riyadh, 14 November 2000
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 principles.

“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 distinguished themselves.

Source: SPA

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 June 28, 2001 15:35:26