Minister of Petroleum and Mineral Resources Eng. Ali Ibrahim Al-Naimi reiterated today the importance of energy and the mutual dependency and exchanges between the West and East Asia. In an opening address at the 2nd Asian Ministerial Energy roundtable meeting, here, he said "Our hydrocarbon relationship is strong and crucial for each side and the 2/3rd of the West Asian oil is exported to East Asia." "Today, Asia is a massive oil market, and it is the most important oil market. Moreover, it has a vital role in the world economy. It is also expected that a big share of the oil demand in the future, will be from Asia. Nevertheless, Asia contributes 50 per cent to the demand, the growth of population and constant development in Asia relies on production and consumption of Hydrocarbon materials," Al-Naimi noted. --MORE
