09 March 2004 08:49
SAUDI ARABIA THINKS WORLD OIL PRICES ARE TOO HIGH
RIYADH. March 6 (Interfax) - Saudi Petroleum and Mineral Resources Minister Ali Ibrahim Naimi believes that world oil
prices are too high and do not benefit producers and consumers.
"I agree with my Russian counterpart, Energy Minister Igor Yusufov, who is worried about price imbalance. Oil
prices are too high at the moment, which is not good for both producers and consumes in the long- term," Naimi told
Interfax on Saturday. Stable oil prices are important for Russia and Saudi Arabia, Naimi said. "The attitude of
Saudi Arabia and Russia to oil prices is very similar. For both countries, long-term stability of oil prices is
important, not long- term gain from their increase," he said.
which has an area of 29,900 km, is located in the center of Saudi
Arabia, in the northern part of the Rub al-Hali desert. This is the
first open tender for the sale of mineral assets conducted by Saudi
On Saturday, Naimi met with a Russian delegation, which has arrived in Saudi Arabia to attend the signing of an
agreement on the implementation of the project for the geological exploration of the A gas block. The document will be
signed by Lukoil President Vagit Alekperov and Saudi Aramco President Abdallah Bin Saleh Jamaah. Block A,
Arabia over the past thirty years. Lukoil has received one of the three blocks included in the tender and has set up
the company Lukoil Saudi Arabia Energy Ltd., a joint venture with Saudi Aramco, to work on this block.
[Interfax] |
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