South Korea's Seoul National University has awarded Saudi Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi an honorary doctorate. In a speech on the occasion, he reviewed efforts over the last two years to establish the new King Abdullah University of Science and Technology in Saudi Arabia in line with directives by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz. He expected the university to be a distinguished international university in scientific research and technological development. On energy, he reviewed world oil reserves and world economic growth saying that over the last decade, the world economy grew by 4.3%. On oil reserves, he said the world's proven oil reserves are 1.2 trillion barrels and the gas reserves are 175 trillion cubic meters. --more
