JEDDAH, 11 April 2006 — The Council of Ministers yesterday fixed bench prices for heavy crude and other crude oils at between 4.90 and 6.30 halalas per liter for all consumers at all distribution centers, the Saudi Press Agency said. The Cabinet meeting, which was chaired by Custodian of the Two Holy Mosques King Abdullah, decided that the crude oil prices would be revised every five years in the light of international energy prices.

“The prices will remain the same for 10 years for clients who sign long-term purchasing contracts with Saudi Aramco,” the Cabinet said, adding that the period would be calculated from the date on which the contract was signed.

“Based on a decision taken by the Supreme Economic Council, the Cabinet fixed the following bench prices for a number of crude oils: heavy crude oil 6.30 halalas per liter, 180 centistock fuel oil 6.00 halalas/liter and 380 centistock fuel oil 4.90 halalas/liter,” SPA said.

The Cabinet also decided that desalination and electricity power generation plants to be established on coastal areas in the future must use either fuel oil or heavy crude oil, the agency said.

While discussing situation in Iraq, the Cabinet meeting hoped that Iraqi leaders would be successful in forming a national unity government in order to bolster the country’s unity and independence without any foreign interference.

Referring to Palestine, the Cabinet hoped that the international community would not be carried away by Israeli policies aimed at isolating the Hamas-led government.

Addressing the Cabinet, King Abdullah spoke about Saudi Arabia’s strategic relations with other countries, adding that it would serve the interests of Arab and Islamic countries. Abdullah briefed the ministers on the outcome of his talks with King Juan Carlos of Spain and noted the Spanish king’s efforts to promote cultural dialogue and understanding.

The Cabinet meeting approved the formation of a commission to take care of the wealth of minors. It authorized the foreign minister to sign an agreement with Egypt for political consultation.