2002 News Story

Crown Prince Abdullah chairs oil council meeting

Deputy Prime Minister and Commander of the National Guard Crown Prince Abdullah bin Abdulaziz chaired in Taif today a meeting of the Supreme Council for Petroleum and Minerals (SCPM). The meeting reiterated the Kingdom's commitment to stabilizing the international oil market to meet the interests of both producing and consuming countries, to enhance economic growth worldwide, and to stabilize oil supplies and prices at reasonable levels. The SCPM passed a number of resolutions, including approval of the work plan of the national oil company Saudi Aramco for the coming five years, and endorsement of concessions for cement works, salt extraction, and iron ore mining.