Saudi Arabia promises steady oil supplies to Asian markets

December 12th, 2007 - 10:31 pm ICT by admin  

Nicosia, Dec 12 (ANI): Saudi Arabia Oil Minister Ali Naimi has recently said in Singapore that his country is willing to supply its customers in Asian nations with oil, both in times of abundance and in times of scarcity.
The Saudi Minister said that his country supplied the continent with more than 4.5 million barrels of oil a day, approximately one half of the kingdom’s daily output and one quarter of total Asian imports.
The Minister reiterated that his country would remain a key energy supplier to Asian countries.
” We see our commitment to the Asian market as a basic business value and we are willing and able to supply them with the petroleum they need now and in the future,” he said, and added that demand from east and southwest Asia during the first six months of 2007 was estimated at more than 17 million barrels a day, making the region the second largest end consumer of oil.
Ali Naimi praised the growth made by Asian nations and their economic achievements. “Regional trade has grown rapidly over the years, reflecting the interdependence between nations. This is an important facet of our success and one that we should nurture if Asia’s growth miracle is to be sustained to deliver greater shared prosperity. The emergence of Asia as an economic powerhouse is truly breathtaking,” he concluded. (ANI)

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