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Opec Secretary General praises Energy Forum
Riyadh, 18 November 2000
Secretary General of Opec Rilwanu Lukman has highlighted the significance of the International Seventh Energy Forum, currently in progress here, and said the deliberations of the forum's first and second sessions were constructive deliberations. In a statement to SPA, Lukman noted that the two sessions were characterized with frankness and described the Kingdom's proposal as regard to establishment of a Secretariat general for the forum as a reasonable proposal and one for which approval was expected.

On the rapprochement of views on oil production, Lukman said: "Settlement of disputes always takes place through dialogue and discussions." As regard to transference of technology from the industrial countries to the oil producing countries, Lukman said the oil producing countries should put pressure on the big industrial countries to persuade them to transfer technology to the oil producing countries. Meanwhile, Lukman said Opec member states believe that the price of the oil barrel should range between $22 and $28 and added: "This means that the price should be fixed at $25."

Source: SPA

Need mutual understanding between oil producers and consumers
Riyadh, 18 November 2000
Crown Prince Abdullah bin Abdul Aziz, the Deputy Premier and Commander of the National Guard, reiterated on Friday the Kingdom’s commitment to dialogue and mutual understanding with all parties concerned with energy industry.

In an opening address at the 7th International Energy Forum here last night, Crown Prince Abdullah affirmed that the Kingdom feels a great responsibility to work in cooperation and coordination with all oil producers and consumers in order to achieve the desired level of stability in the international oil market, thus serving the best interests of both consumers and producers.

In the course of his address, Crown Prince Abdullah said:

"In the Opec Caracas summit, last September, Saudi Arabia stressed a number of oil-related issues and considerations, their effects on the economies of oil producers and consumers, and their repercussions on the stability and efficiency of world economy. Saudi Arabia also affirmed its readiness to ensure the continuity of oil supplies required for world economic growth, and to increase its production levels if the market required it.

Our efforts to ensure stability in the oil market and continuity of oil supplies requires reciprocal efforts by consumers. It is important to understand that cooperation between all parties is required if we are to achieve this objective. We are concerned when we hear call for discrimination against oil, or when doubt is cast on the continuity of oil supplies. It worries us when we are blamed for the rise in prices paid by the final consumers.

Dear guests, we hope that this forum will end in mutual understanding on the present and future status of world energy, an understanding marked by a balanced vision and a reciprocal desire to reach a situation in which energy issues transcend differences in favor of constructive cooperation serving the interests of all parties.

The Crown Prince went on to say: "At the present stage of human evolution, such cooperation has become a necessity, not merely an option. Previous disagreement and confrontation between producers and consumers have served only to affect adversely the interests of both parties.

The cooperation we should all seek to achieve is one that is based on constructive and transparent dialogue between all parties interested in energy issues. We should all coordinate our efforts in all that relates to the future of world energy planning and use.

To achieve these goals, the Kingdom suggests that consideration should be given to the establishment of a permanent secretariat for the energy forum to facilitate a continuous dialogue between producers and consumers. Such dialogue should include the industry and all other parties interested in energy matters. The establishment of such a secretariat will encourage regular dialogue and, through it, the achievement of our goals. The Kingdom stands ready to host the forum's secretariat in Riyadh.

In the course of his speech to the forum, the Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi said: "Since our last forum in Cape Town two years ago, developments in the energy market have highlighted the importance of continuity and consolidation of this dialogue to reach common understanding of the intricate energy issues. The world oil market has witnessed successive developments that were not of major concern not only to producers but also to consumers, governments and people. The fluctuations in crude oil prices, the supply and demand situation of certain products, taxation policies, inventory management in major consumption areas - let alone environmental specifications and restrictions - have restored to oil its status as a major source of energy. These issues have highlighted the urgent need for dialogue between producing and consuming countries to reach acceptable formulae to ensure the stability of prices, the continuity of supplies and the transparency of demand.”

He added: "The Kingdom of Saudi Arabia is honored to host this forum, along with Japan and the Kingdom of the Netherlands whose efforts have been of great significance in preparing for this forum, and in ensuring the remarkable attendance of oil producing and consuming countries, as well as regional and international organizations interested in energy issues."

South African Minister of Minerals and Energy Phunzile Mlambo-Ngcuka delivered the speech on behalf of the host country of the previous forum. In her speech she laid stress on cooperation in building close relations between the oil producing and consuming countries. She hoped that close cooperation between the oil producers and consumers would be realized.

Then, the Minister of economic affairs of the Netherlands, which is collaborating in organizing the forum, stressed in her speech that face-to-face dialogue offers great benefits in preventing problems in the marketplace. She noted that the rise in oil price any ensuing disputes between countries about jeopardized both oil and industry. She emphasized the need to increase oil production to overcome existing problems.

Later, the Crown Prince graced a dinner party held in his honor by Engineer Al-Naimi. Then, he watched an exhibition, co-sponsored by Saudi Aramco, Sabic and electricity companies, of traditional handicrafts held on the fringes of the forum. While touring the exhibition he was greeted by U.S. Secretary of Energy Bill Richardson who had just arrived in Riyadh to attend the forum.

Source: SPA


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 June 28, 2001 15:36:15