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Saudi Arabia is ready to produce over 9.7 million barrels of oil per day |
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Sunday, 22 June 2008 |
"Saudi Arabia is ready to produce over 9.7 million barrels of oil per day during the remainder of the year if there is demand," said today the Minister of oil and mineral resources, Ali ibn Ibrahim al Nueymi, cited by global agencies.
 "Given our current spare capacity, I would like to say that during the remainder of the year Saudi Arabia is prepared and susceptible to produce additional quantity of oil in addition planned for July 9.7 million barrels a day", said in a speech Nueymi Samit countries producers and consumers of oil in Jeddah.
If demand for oil is strong enough, the minister said that Saudi Arabia, which is the largest exporter of raw materials in the world, could add to their production quotas further 2.5 million barrels per day until reaching a level of 12.5 million barrels per day towards the end of the year, indicating Reuters.
Prime Minister of Great Britain Gordon Brown, who also located in Jeddah, also undertook to British energy markets open to foreign investors through "new deal", whose aim will be to promote clean energy and to put an end to the conflict of interests between producers and consumers oil.
At today's summit British Prime Minister announced plans for cooperation with Saudi Arabia in the development of technologies for sequestration of carbon emissions from energy plants and the United Arab Emirates (UAE) in the field of nuclear technology.
Brown said to journalists that the United Kingdom and Qatar are considering to set up a new joint energy fund to invest in the British energy industry.
British Prime Minister, cited by DPA, today called on oil producers to invest about 197 billion dollars in the development of alternative energy sources to increase production in order to contribute to lowering prices. |
World Business 
