The Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi conveyed the greetings of The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud and Crown Prince Sultan bin Abdulaziz Al Saud, Deputy Premier, Minister of Defense and Aviation and Inspector General to President Lee Myung Bak of Republic of Korea and his friendly people during a meeting with the President here today. During the meeting, they discussed oil cooperation between the two countries and the situations in the international oil market. The Minister of Petroleum and Mineral Resources stressed distinguished relations between Saudi Arabia and the Republic of Korea in various fields including the field of petroleum, noting that Korea is considered of a particular importance as it is one of the largest countries that import Saudi oil and Saudi Aramco company participates in the ownership of S. Oil company of a joint oil project including a modern refinery and a network for distributing oil products in Korea. In a statement to Saudi Press Agency (SPA), he added that he explained to the President the Kingdom's moderate policy regarding oil affairs as the Kingdom is concerned with the market's stability and equilibrium as well as the provision of oil supplies to its customers such as Korea, indicating that the Korean President valued the Kingdom's balanced petroleum policy and expressed his thanks and appreciation for this policy. The meeting was attended by a number of petroleum officials and Saudi Ambassador to South Korea Abdullah bin Abdulaziz Al-Eifan.
