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King Abdullah Chairs OPEC Summit
Riyadh, Saudi Arabia, November 17, 2007, SPA- Presided over by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, the Third Summit Meeting of the leaders and representatives of the Organization of Petroleum Exporting Countries (OPEC) member states began its deliberations at King Abdulaziz International Center for Conferences in Riyadh tonight.
Saudi delegation to the summit was headed by Crown Prince Sultan bin Abdulaziz Al Saud, Deputy Premier, Minister of Defense and Aviation and Inspector General.
President Hugo Chavez Frias of Venezuela, who is the President of the previous OPEC summit, delivered a speech in which he thanked the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, heads of the delegations of OPEC member states to the Third OPEC Summit and their accompanying delegations,
The president conveyed the greetings of Venezuelan people to all peoples represented at this summit, particularly the Arab people who are sharing with his country a cultural identity throughout years of struggle in search for a better world and peace.
He emphasized that the only road to peace is justice, pointing out that this meeting comes between culture, traditions, brotherhood, justice and peace.
During his speech, the president gave an account on the birth and development of OPEC since 1960.
"OPEC is a conservative organization and we suggest rational consumption of this certainly depleting resource. We must establish some mechanisms and promote development programs with the poorest countries in the world," he said.
In the name of Almighty Allah, the most merciful, most compassionate
Prayer and peace be upon the messenger of God,
Your Highnesses, Excellencies,
Assalamu Alaykum Wa Rahmatullah Wa Barakatu (Mercy, Blessings and peace of God be upon you):
It is my pleasure that the Third OPEC summit is being held in Riyadh, and I welcome you, wishing every success for this historic meeting.
Since the establishment of our organization some 50 years ago, it has set for itself two essential objectives: First, protecting the interests of its member countries, and Second: shielding world economy against sudden shocks of oil prices and supplies. Experience has proved that OPEC has maintained these two. Aware that the prosperity of the world is one whole unit, the OPEC provided enough, at times, at the expense of its immediate interests.
Petroleum is energy for construction and building, and it should not be transferred into a means of conflict and whims.
Those who repeatedly claim that OPEC is a monopoly and exploitative organization do ignore the fact that it has always acted on grounds of moderation and wisdom. The most evident proof here is that, taking into consideration the inflation rates of today, the current real price of oil has not reached its rate during the early 80s of the last century.
The organization has bridged dialogues with consuming countries, and for this reason the Secretariat General of the International Energy Forum, on which great hopes were attached, was established. Moreover, the organization did not disavow its responsibilities towards developing countries and combating poverty. In this regard, it has set up OPEC Fund for International Development whose contributions cover more than 120 countries. Additionally, the member states of OPEC extended perhaps the highest developmental assistance if we take into consideration their national revenues.
Brothers and Friends:
What floats nowadays of talks on the negative impact of oil on environment and climate fuses the truth with falsehood. And attempts targeting oil with high taxes are more harmful to consumers than producers. I do call for studying the issue of petroleum in relation to environment and climate scientifically and objectively away from political pressures and effects. Accordingly, I am pleased to announce that the Government of the Kingdom of Saudi Arabia has allocated $300 million as nucleus for a program that funds scholarly research relating to energy, environment, and climate change. I do hope that consuming and producing countries will contribute to similar programs in order to reach accurate conclusions that ensure the safety of the environment and satisfy the escalating needs for petroleum.
Thank you, and God�s peace and mercy unto you
OPEC Secretary General Abdullah bin Salem Al-Badri delivered a speech in which he thanked the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud on his patronage of this Conference.
He also thanked the heads of OPEC countries, pointing out that this conference is of great importance for being convened in Riyadh.
He said that OPEC has spared no effort in preserving the interests of its members by ensuring the stability of oil markets and securing stable oil supplies, adding that the organization achieved its objectives through precised predicting mechanism of the level of consumption in the medium and long terms.
"We are pleased with the success during the last 47 years. The challenges we faced and will face must be read. As we succeeded in facing the past challenges, we must face the future challenges," he said.
"There are two challenges before the organization. The first is providing the world's population with their needs of petroleum in order to support the global economy and maintain its growth. The second is environment", he said, stressing that the organization is committed to the preservation of the environment through research that contribute to combating the emission of carbon dioxide. He also affirmed OPEC's support for scientific research that contribute to reducing the use of petroleum and discover alternatives to energy.
He highlighted the continuous support of the Kingdom of Saudi Arabia for OPEC, saying "OPEC derives its strength from the support of its members".
Then the Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi introduced to The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, OPEC former secretaries general, current secretary general, distinguished researchers and prominent journalists who contributed to the service of OPEC.
Minister Al-Naimi said that on the occasion of the convention of the Third OPEC Summit in Riyadh, the King directed to honor 12 secretaries general who have served OPEC since its establishment in 1960. The Kingdom's honoring is in appreciation of their role in administering the Organization and representing it at international arenas and meetings during assumption of their posts as secretaries general.
He announced that the Monarch directed to award two prizes, the first one named "Distinction Prize" in the field of petroleum researches, to three researchers contributed through their researches, lectures and prestigious research bodies for which they have worked for many years to enriching energy researches in general and oil in particular. Their researches have had an important role in clarifying the role of oil in the world economy and the role of OPEC in world energy relations.
The second prize is named "Distinction Prize in Field of Petroleum Journalism" that will be awarded to three world journalists whose press coverage and news analyses have contributed for many years to clarifying the dimensions of technical, economic and political relation of petroleum and publicizing OPEC role in energy relations and the world economy, he noted.
The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud honored the former OPEC Secretaries General and the current Secretary General.
They are as follows:
1- Mohammed Saleh Joukhdar, from the Kingdom of Saudi Arabia (1967)
2- Dr. Francisco Parra, from Venezuela (1968)
3- Omar el-Badri, from Libya (1970)
4- Dr. Abderrahman Khene, from Algeria (1973-1974)
5- Ali Jaidah, from Qatar (1977-1978)
6- Rene Ortiz, from Ecuador (1/1/1979 to 30/6/1981).
7- Dr. Marc Nan Nguema, from Gabon (1981-1983)
8- Dr. Subroto, from Indonesia (1988-1994)
9- Dr. Rilwanu Lukman, from Nigeria (1995-2000)
10- Dr. Ali Rodr?guez Araque, from Venezuela (2001-2002)
11- Alvaro Silva Calderon, from Venezuela (2002-2003)
12- Abdullah Salem el-Badri, from Libya (2007 - up to date).
The monarch also honored the following distinguished researchers:
-Robert Mabro, from the United Kingdom
- Dr. John Mitchell, from the United Kingdom
-Dr. Daniel Regn, from the United States of America.
The monarch also honored the following prominent media members:
- Dr. Walid Khaddori, from Iraq.
- Samira Qawar, from Jordan.
- Buchan Bahri, from India.
Then, the Custodian of the Two Holy Mosques held a dinner party in honor of the leaders and delegates of the Organization of Petroleum Exporting Countries (OPEC) participating in OPEC's Third Summit.
The summit's opening ceremony and the function were attended by Prince Misha'al bin Abdulaziz; Prince
Abdul-Ilah bin Abdulaziz; Prince Meqren bin Abdulaziz, Chief of General Intelligence; other princes, ministers, senior officials and the diplomatic corps accredited to the Kingdom.
Saudi Arabia's official delegation was comprised of Prince Abdulrahman bin Abdulaziz, Deputy Minister of Defense and Aviation and Inspector General; Prince Badr bin Abdulaziz, Deputy Commander of the National Guard; Prince Naif bin Abdulaziz, Interior Minister; Prince Salman bin Abdulaziz, Governor of Riyadh Region; Prince Saud Al-Faisal, Foreign Minister; Prince Abdulaziz bin Salman bin Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs; Dr. Abdulaziz
Al-Khuwaiter, Minister of State and Member of the Cabinet; Dr. Ghazi
Al-Gosaibi, Minister of Labor; Mohammed bin Ali Al-Fayez, Minister of Civil Service; Ali bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources; and Dr. Ibrahim
Al-Assaf, Minister of Finance.
Source: Opec Summit Web Site
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