Qa'dah 09, 1431 H/Oct 17, 2010, SPA -- Minister of Finance Dr. Ibrahim Al-Assaf stressed the importance of the pivotal role played by the Kingdom of Saudi Arabia in the international oil market by reducing price volatility and maintaining the oil supply exceeding the demand, pointing out that the Kingdom exerts efforts to harness huge investments to promote its capabilities of oil production to make the surplus always available. In closing speech before the G20 Workshop on Energy Security, which was held at King Faisal Conference Hall here today, the Minister of Finance noted the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud's Poor Energy Initiative, which was announced in Jeddah in January of 2008. Dr. Al-Assaf explained that the Kingdom was working to put King Abdullah's Poor Energy Initiative into practice through the Saudi Fund for Development, OPEC Fund for International Development "OFID", Arab Bank for Economic Development in Africa and the World Bank.
