RIYADH, 17 October — Minister of Petroleum and Mineral Resources Ali Al-Naimi has reviewed developments in the international oil market with a top US economic official.
Naimi and Alan P. Larson, the US State Department’s undersecretary for economic, business and agricultural affairs, also examined "cooperation between the two countries in the petroleum and mineral sectors," according to Saudi Press Agency.
The meeting, which took place Tuesday in Dhahran, was attended by senior oil officials including Saudi Aramco CEO Abdullah Juma, as well as the US Ambassador to Riyadh, Robert Jordan.
Larson praised Kingdom for its role in stabilizing the energy market and ensuring continued supply of oil, but urged the Kingdom to seal a "prompt conclusion" of talks with foreign oil companies over three mega gas projects.
He told the American Businessmen’s Group of Riyadh (ABGR) on Tuesday that "Saudi Arabia has been a leading voice within the community of petroleum producers for keeping world oil prices moderate and stable."
Ambassador Jordan, Dr. Gene Heck, ABGR chairman, and a large number of US businessmen were present at the meeting at Faisaliah Hotel here.
"A prompt conclusion of ongoing negotiations (with oil firms) will reinforce a message of confidence in the Kingdom’s investment climate," Larson said.
Talks between Riyadh and eight foreign firms over a $25-billion investment in three gas projects have stalled over differences on profitability and commercial terms.
An informed source, however, told Arab News on Tuesday that the Saudi negotiating team had received positive responses from the oil giants picked up to implement the gas projects.
Larson was also received late Tuesday by Crown Prince Abdullah, deputy premier and commander of the National Guard, who is touring the Eastern Province to inaugurate industrial and development projects worth more than $10 billion.
In his address to the American businessmen, Larson said the two countries had renewed their commitment to building stronger relations following the Sept. 11 attacks in the US. "We have emerged ... with a renewed commitment to building a strong and healthy relationship in the wake of the shock of Sept. 11," he said.
American businessmen at the meeting expressed concern at US policy on visa regulations for Saudi nationals wishing to visit the United States and expressed regret at the failure of senior US officials to condemn anti-Muslim remarks by right-wing Christian figures in Washington.
Larson replied that the State Department was reviewing the delay in granting visas, saying security checks would take less than a month in the future.
