The Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, the Premier and President of the Supreme Council for Petroleum and Minerals Affairs, presided over the Council's meeting here today. The meeting was attended by Crown Prince Sultan bin Abdulaziz, Deputy Premier, Minister of Defense and Aviation and Inspector General and Vice President of the Supreme Council of Petroleum and Minerals Affairs, and other members of the Supreme Council. At the end of the meeting, Minister of State and Member of Cabinet and also member and Secretary General of the Supreme Council, Dr. Mutlab bin Abdullah Al-Nafisah said that the Council reviewed the situation in the oil market, and the Kingdom's keenness on the interests of producing and consuming countries. The Council expressed satisfaction over the process of the Kingdom's investment to raise and expand its capacity to produce crude oil and refining it to contribute to meeting the world demand, which is running in accordance to the set timetable and in tandem with the Kingdom endeavors to maintain ecological protection, he added. Later, the Council discussed its agenda and decided to approve the working plans of Saudi Aramco, gave approval to its two annual reports, sanctioned its balance sheet and profits and losses accounts. It also approved appointment of an external account Controller for Saudi Aramco and its affiliates, he further added. The Council reviewed too the technical, financial and statistical report on Saudi Aramco's companies licensed for mining and discussed a number of petroleum and mining related issues, he concluded. -- SPA
