VOL. XLII

No 42

18-October-1999

SAUDI ARABIA

Investments In Saudi Oil Upstream Not Beneficial At Present,Says Prince Sa'ud al-Faisal

Prince Sa'ud al-Faisal, the Saudi Foreign Minister andChairman of the Ministerial Oil Committee, told the Saudi daily 'Ukaz on10 October that the Kingdom "considers exploration and investments in theoil sector not beneficial at present, especially since there are ample worldoil supplies and sufficient spare production capacity within the Kingdom.Hence, Saudi Arabia...