The Saudi U.S. Business Council held its second main work session. The session featured a speech by Minister of Petroleum and Mineral Resources Ali Alnaimi. The minister explained that the kingdom will spend about USD107 billion over the next five years to finance various projects in the fields of exploration, production, refining, processing and marketing of oil and gas. The minister said that this stresses the Kingdom of Saudi Arabia's continued commitment to being an oil producer and exporter that can be depended on in meeting world energy needs and an important element of world energy and oil market stability in a way that realizes the interests of both producers and consumers. The minister called on world companies to join the kingdom's efforts to develop the industries associated with oil, gas and petrochemicals and participate in investments in this sector.
