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Saudi Arabia assures world oil needs will be met
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IANS | 09 Oct, 2019
The Council of Ministers on Tuesday reemphasized the Kingdoms readiness
to meet the world oil needs as the most reliable, safe and independent
oil exporter of the world.
Custodian of the Two Holy Mosques King
Salman chaired the weekly session of the Cabinet at Al-Yamamah Palace
in Riyadh, the Saudi Gazette reported.
In a statement to the
Saudi Press Agency following the session, Minister of Media Turki
Al-Shabanah said the Cabinet noted the Kingdom's assertion, during its
participation in the Russian Energy Week held in Moscow, to meet the
world oil demand, after exerting extraordinary efforts to restore its
capability to supply markets within 72 hours, following the criminal
attack on Saudi Aramco's Khurais and Abqaiq plants.
"This
strengthens the Kingdom's efforts to establish relations with countries
within and outside of OPEC to achieve permanent stability of oil
markets; benefit producers, consumers and the oil industry; attract
investment and stabilize the financial system to enable the global
economy to grow and prosper," the statement said.
At the outset
of the session, the King briefed the Cabinet on the outcome of the
official talks held with President of the Sudanese Supreme Council
General Abdel Fattah Al-Burhan and Sudanese Prime Minister Dr. Abdulla
Hamdok, highlighting the fraternal relations between the two countries
and peoples and ways of enhancing and developing bilateral cooperation
in various fields.
Al-Shabanah said the Cabinet reviewed the
final statement of the fourth extraordinary meeting of the GCC Supreme
Military Committee, at the level of chiefs of staff of the armed forces,
which was held in Riyadh to discuss the current regional threats and
situations, in order to achieve more joint GCC military coordination.
The
talks stressed the readiness of the GCC armed forces to confront any
terrorist threats or attacks, condemning the recent sabotage attacks in
the Kingdom, violating airspace of some GCC member states, in addition
to attacks on oil tankers and threatening the freedom of maritime
navigation.
The Cabinet was also briefed on the announcement of
Saudi Authority for Intellectual Property (SAIP) about acceptance of the
Kingdom's nomination to the presidency of the International Union for
the Protection of Industrial Property (Paris Union) by the General
Assembly of the World Intellectual Property Organization (WIPO).
Accordingly, Kingdom will hold the presidency for a period of two years.
The
minister also referred to the announcement of SAIP's nomination to the
vice-presidency of the International Patent Cooperation Union (PCT)
comprising 152 countries, as well as the Kingdom's success in
nominations for permanent membership of the Council of the International
Civil Aviation Organization (ICAO) during the 40th General Assembly
session, saying that such moves embody the advanced global standard
attained by the Kingdom, in these domains as well as the international
reliability it has maintained.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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