Monday, January 24, 2011

Demand for oil in 2011 to rise but prices will remain.

RIYADH: Petroleum and Mineral Resources Minister Ali Al-Naimi said that although he expects demand for oil in 2011 to rise, he also believes prices will remain at last year's rates.
He said oil demand would reflect global economic conditions in general, varying from region to region. He predicted that oil demand is expected to continue to decline in countries with mature economies, good to excellent living conditions and dwindling populations, particularly in Western Europe and Japan, while the United States might experience a slight increase in demand as a result of its improving economy.
The global economy, he said, will grow by four percent this year, almost the same as the pre-crisis growth. Industrialized countries are expected to grow by 2.5 percent annually, while emerging economies such as China, India and Brazil grow at higher rates, some of them more than eight percent during this year.
He hoped that large numbers of people from industrialized countries would continue to rise from poverty and experience better living conditions. Estimates indicate that more than 200 million people will join the middle class this year in Asia, the Middle East, Latin America and Africa.
The minister said the policy is implemented under the directions and direct supervision of Custodian of the Two Holy Mosques King Abdullah.
The policy, he said, has eight main drivers, namely moderation, cooperation with the rest of the world, stability of the global oil market, serving the local market, focus on the administrative side, concentration on environmental aspects, focus on technology and looking at oil as part of the energy industry.
Describing the Kingdom's petroleum policy as characterized by moderation and endeavor to promote peace, justice, international cooperation, regional and international stability and human prosperity, he said: "We also have strong ties with the companies and countries that import Saudi oil and we closely track the movement of global oil demand. In the 50s and 60s, Europe was our main market, then in the 90s our export focus shifted to the United States as a result of the growth in its oil demand. Now Asia is our main market, representing the destination of approximately 60 percent of our oil exports, a percentage that is expected to rise during the coming years.”

Thursday, December 9, 2010

Saudi Arabia

Saudi Arabia, monarchy in southwestern Asia, occupying most of the Arabian Peninsula. Saudi Arabia is a land of vast deserts and little rainfall. Huge deposits of oil and natural gas lie beneath the country’s surface. Saudi Arabia was a relatively poor nation before the discovery and exploitation of oil, but since the 1950s income from oil has made the country wealthy. The religion of Islam developed in the 7th century in what is now Saudi Arabia. The Kingdom of Saudi Arabia was founded in 1932 by Abdul Aziz ibn Saud, and it has been ruled by his descendants ever since.

Riyadh Skyscrapers

Saudi Arabia is bounded on the north by Jordan, Iraq, and Kuwait; on the east by the Persian Gulf and Qatar; on the southeast by the United Arab Emirates and Oman; on the south by Yemen; and on the west by the Red Sea and the Gulf of Aqaba. The country’s border with the United Arab Emirates is not precisely defined. Saudi Arabia has an area of about 2,240,000 sq km (about 864,900 sq mi). The capital and largest city is Riyadh.

Microsoft ® Encarta ® 2007. © 1993-2006 Microsoft Corporation. All rights reserved.

Thursday, October 28, 2010

Foreign Trade

Saudi Arabia’s exports—dominated by petroleum products—easily outweigh its imports of items such as foods, machinery, vehicles, textiles, and raw materials including plastics, chemicals, and rubber. In 2002 Saudi Arabia exported commodities amounting to $63.7 billion, while imports amounted to only $37 billion. The United States is the country’s largest trading partner, followed by Japan, the United Kingdom, and Germany.
Microsoft ® Encarta ® 2007. © 1993-2006 Microsoft Corporation. All rights reserved.

Monday, October 18, 2010

Saudi Arabia's Foreign Relations

Saudi Arabia is one of the largest contributors of development aid, both in term of volume of aid and in the ratio of aid volume to GDP.
Much of Saudi Arabia's aid has gone to poorer Islamic countries or Islamic communities in non-Islamic countries. This aid has contributed to the spreading of Islam of the sort found in Saudi Arabia, rather than fostering the traditions of the receiving ethnic groups. The effect has been the erosion of regional Islamic cultures through standardization. Examples of the acculturizing effect of Saudi aid can be seen among the Minangkabau and the Acehnese in Indonesia, as well as among the people of the Maldives.
On the 18 December 2008, the William J. Clinton Foundation released a list of all contributors. It included The Kingdom of Saudi Arabia, which gave between US$10–25 million.
In addition, Saudi Arabia remains one of the United States' allies in the region, and relations between the two countries go back as far as 1931 when the US first extended diplomatic recognition. In 1945 President Roosevelt and King Abdulaziz bin Saud met on board a ship to discuss relations between the two countries. Since then, the two have maintained close relations for economic and political reasons.

Sunday, July 27, 2008

Embassies must defend Saudis detained abroad

Embassies must defend Saudis detained abroad
Arab News

TAIF: Saudi diplomatic missions will appoint lawyers to defend Saudi citizens who are arrested on any charges during their stay abroad and will pay bail for them under new regulations approved by Custodian of the Two Holy Mosques King Abdullah, Al-Madinah newspaper reported yesterday.

The daily said starting next year, the budget of the Foreign Ministry would include provisions under the title, "Expenses of catering to the judicial requirements of Saudi citizens abroad."

It said the amount of money required would be decided by the Foreign and Finance ministries and the allocation would be used to pay the fees of lawyers, bail and other costs until the citizen is released and sent home.

The Saudi missions will follow up with the legal entities in countries concerned to make sure that the citizens receive a fair trial before they are either acquitted or convicted, the new regulations stipulate.

According to these regulations, the citizen will pay back the money spent on him abroad after returning to the Kingdom if he was arrested for negligence or for deliberate mistakes. He will also have to pay any financial settlements related to the alleged crime.

The diplomatic missions will send comprehensive reports about any such cases to the Foreign Ministry. They will also continue to provide citizens with legal counseling and help them choose qualified lawyers for civil contracts, personal affairs and correspondence with foreign governments.

The Foreign Ministry is being requested to contract an experienced American law firm with strong ties to other legal entities in order to assist with legal cases involving Saudi citizens in the United States.

Friday, July 25, 2008

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Monday, July 7, 2008

Blast in Pakistan capital kills more than 10

VIEW SOURCE

July 06, 2008

A suicide attacker detonated explosives near a police station in Pakistan's capital on Sunday, killing more than 10 police officers, officials said.

The blast occurred in a kiosk in front of the police station, said Naeem Iqbal, a police spokesman. Television footage showed wounded security forces being taken away and ambulances rushing to the area.

Just moments before the explosion, an Associated Press reporter passed by the scene and saw more than 20 security forces gathered nearby.

After the blast, a traffic intersection in the area was splattered with blood. Body parts were scattered as far as about 50 yards from the scene, and shattered glass also covered the area, which police cordoned off.

Rana Akbar Hayat, a senior government official, told reporters near the scene that more than 10 people were killed and that they had been targeted by the attacker.

The blast came as thousands of Islamists were gathered not far away to mark the one-year anniversary of a deadly military crackdown on a radical mosque. It was not clear whether the events were linked.

The explosion also came following recent threats of revenge from militants in Pakistan angered by a paramilitary operation against insurgents in the tribal northwest.

A new government that came to power following February elections has sought to end militancy in the country primarily through peace deals with extremists.

That approach has earned criticism from U.S. officials, who say the deals will simply give time for militants to regroup and intensify attacks on foreign forces in neighboring Afghanistan.

About a week ago, as militants in the northwest increasingly began threatening the key city of Peshawar, the government launched a paramilitary operation in Khyber tribal region to flush out the extremists.

That operation has been halted while officials try to negotiate peace through tribal elders, but Pakistani Taliban leaders promised revenge for the government's show of force.

Violence levels have fallen in Pakistan since last year, but attacks still occur.

In June, a suicide car bomber killed at least six people near the Danish Embassy in Islamabad. A statement attributed to al-Qaida took responsibility for that blast, which was believed to have targeted Denmark over the publication of cartoons depicting the Prophet Muhammad.