The Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz patronized here today the inaugural ceremony of the headquarters of the International Energy Forum Secretariat (IEFS).
The Monarch, who was accompanied by Prince Salman bin Abdulaziz, the Governor of Riyadh region, and other princes, was welcomed by the Minister of Petroleum and Mineral Resources, Eng. Ali Al-Naimi and a number of senior officials.
The King was shown a replica of the building and he listened to a briefing presented by Prince Abdulaziz bin Salman bin Abdulaziz, the Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs and the head of IEFS's constituent committee on various phases of the project.
Then, the King met with ministers of energy and petroleum attending the Energy Forum and the inaugural ceremony of the headquarters of the forum's secretariat.
During the audience, the secretary general of the forum delivered a speech in which he underlined the importance of energy information for the stability of oil markets.
He thanked the King for the beautiful building of the forum's secretariat.
Then, the King proceeded to the venue for the speech ceremony prepared for this occasion.
The King and those attending the ceremony watched a documentary on energy in the world and the availability of energy in Saudi Arabia, its care for energy issues including production and distribution and promotion of coordination between producers and consumers.
The documentary explained how the energy forum was launched, its importance and its meetings to discuss issues of energy and economic development and to serve stability, security and sustainability in the field of energy.
The King then delivered the following speech:
"In the Name of Allah, Most Compassionate, Most Merciful
"Praise be to God, and peace and blessings upon his messenger Mohammad and all his kin and companions.
"Dear Friends:
"May peace and blessings of God be upon you.
"It is our pleasure to welcome you to the Kingdom of Saudi Arabia, and to celebrate with you the inauguration of the permanent headquarters for the International Energy Forum Secretariat, and the launch of the international project of the Joint Oil Data Initiative. It is our hope that the work of the Secretariat will contribute effectively to enhance the dialogue between producers and consumers, and protect the global economy from turmoil. This is the reason why we proposed the establishment of the Secretariat five years ago.
"Dear Friends:
"Our oil policy is clear, and is characterized by honesty and transparency. It is based on our firm belief that we are part of the world we live in, and that we share our world's fortunes as well as misfortunes, and that our national interest does not conflict with the interest of the international community. This policy is based on two main objectives: the first is to realize a fair and reasonable price for oil, and the second is to provide adequate oil supplies to all consumers.
"In order to realize these two objectives, we have increased our production capacity to a level that does not jeopardize the interests of future generations or do damage to the oil fields. We have adopted moderate positions, within and outside of OPEC, with regard to production and pricing. We have increased production whenever there were shortfalls in supply, and we have adopted a policy of consultation and coordination with both consumers and producers. However, all the efforts exerted by producing countries are fruitful only when they are met with a positive attitude by the major consuming countries, in the form of limiting speculation in the oil market and refuting rumours and misleading information which cloud the realities of the market. It is also incumbent upon these countries to reduce the burdens on their citizens by reducing taxes on petroleum products when oil prices rise.
"Dear Friends:
"Our oil policy is part and parcel of our overall policy which seeks dialogue rather than argument, and cooperation rather than confrontation.
"We ask God Almighty to grant success to all who labor for the benefit of humanity, for He is the all hearer, the all responsive.
"God's peace and blessings be upon you."
During the speech ceremony, the Minister of Petroleum and Mineral Resources, Eng. Ali Ibrahim Al-Naimi delivered the following address:
"In the name of Allah, the most merciful, most beneficent Praise be to Allah and blessing and peace be upon his last prophet. Your Majesty, the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, your royal highnesses, Eminences, Excellencies and honorable guests, may peace and blessing be upon you. It pleases and honors me, Your Majesty, to thank you personally, and on behalf of my colleagues at the Ministry of Petroleum and Mineral Resources and the International Energy Forum Secretariat (IEFS) for your inauguration of the IEFS headquarters building and the launching of the IEFS's Joint Oil Data Initiative system. It is no wonder, Your Majesty, since you were first to announce this initiative to establish the IEFS five years ago. You have supported this international initiative morally and financially until the IEFS became a concrete reality that is responsible for a clear and growing international role.
"Your Majesty, ladies and gentlemen,
"One hundred years ago, petroleum started to take its position as an international product of an increasingly growing economic and political importance. During these years many important and significant characteristics have dominated the oil industry and trade, the most important of which is the developing contrasting and transforming relations between oil producers and consumers.
"We realize that energy, of all varieties and sources, is the bases of life around the world. It is one of the main props of growth and development for all nations.
"Oil alone, makes more than a third of the energy that the world consumes today. "Additionally, when the majority of the world's reserves of petroleum exist in developing countries today, while most of the produced petroleum is consumed in the advanced industrial countries, we realize the extraordinary political, economic and developmental dimensions that this precious natural resource has earned, and the influence these dimensions could make on the relations between the oil producing and consuming countries.
It is no wonder that the observer of the oil industry and its international market developments and the reflections of these developments on the international relations can notice the nature of the relationship oil consuming countries and oil producing and exporting countries, especially during the sixties and seventies of the last century, which were characterized with tension, conflict and confrontation. But the eighties witnessed the beginnings of the transformation in these relations. In the nineties, mutual interests between the producers and consumers of oil determined that the relationship must be transformed from the language of antagonism to the language of harmony and cooperation. Cooperation developed gradually until this positive trend was concluded by the 7th ministerial conference for oil producers and consumers in Riyadh in the year 2000.
"The most distinctive aspect of the Riyadh meeting is its transformation from just a mere meeting that could be held every year or two, into an assembly that seeks to be deep-rooted through the establishment of a permanent forum of clear goals and programs. Riyadh witnessed the development of the ministerial meeting from speeches and oratory into the dialogue based on scientific inquiry and clearly-started points and goals. The most significant aspect in the 7th ministerial meeting in Riyadh was Your Majesty's initiative to establish a general secretariat on an international energy forum based in our lovely capital city creating a general frame to host, support, and enhance dialogue between oil producing and consuming countries. Beside framing the international dialogue on energy, among the goals of establishing the IEFS is to preserve, intensify and activate dialogue. Doubtlessly, the importance and the role of the IEFS will increase gradually, each year after another, with the development of the dialogue between oil producers and consumers as long as it is based on scientific foundations that observe the interests of all parties.
"Here, I would like to point at the newest IEFS project which will undertake the joint oil data initiative which Your Majesty has demanded cooperation to achieve five years ago. Today, it is honored by your patronage to launch it. This initiative enjoys a particular importance since it helps countries to better plan for future. It also contributes to stabilizing international market, because the absence of accurate and clear data is one of the most important problems that face the international market and industry, especially in significant issues such as supply and demand, production, reserves, etc. I do not exaggerate when I say shortage in accurate oil information is one of the reasons for the crises that international market witnesses nowadays. "Your Majesty, respectable guests,
"The success of the IEFS to fulfill its duties will depend on the enthusiasm and attention of the countries and their participation in its activities. It will also depend on their adherence to meet their responsibilities in supporting the IEFS. Despite the continuously increasing international support the IEFS is receiving, the financial support is still below expectations.
"More than 40 countries have supported the IEFS's budget, and they hereby have our thanks and appreciation for that support. However, the IEFS looks forward, and in fact, needs more financial support. We also hope that the oil industry, represented by oil companies, will take the initiative to support the IEFS financially and morally, through the establishment of an independent financial fund that should enable the IEFS to expand its activities to play a more positive and effective role in the international energy issues.
"Respectable guests,
"This forum is part of a journey of cooperation between producers and consumers of oil. we all look forward to the 10th forum which will be held in Doha, Qatar, to move forward in the international cooperation journey in the field of oil and energy.
"Your Majesty, respectable guests,
"Before I conclude my address, I would like to highlight the constructive role that the High Commission for the Development of Riyadh has undertaken under the auspices of His Royal Highness Prince Salman bin Abdulaziz, the Governor of Riyadh Region, to build the IEFS permanent headquarters building. So, we would like to extend our thanks and appreciation to his highness and to the commission.
"In conclusion, I would like to express my thanks and appreciation to Your Majesty for launching this brilliant international initiative and for the support and thoughtful attention you have given it, until it became an evident reality, and for Your Majesty's inauguration of this ceremony.
"I would also like to extend my thanks and appreciation to their excellencies the ministers of oil, energy, economy and finance and to the officials from international organizations and oil companies and all respectable guests for honoring us with participation in this valued event asking the lord almighty success for all.
"May peace and blessing be upon you."
Then the Monarch pressed a button marking the launch of Joint Oil Data Initiative (JODI), supervised by the Secretariat General of the International Energy Forum saying, God willing, it will be a blessing for the whole world.
The King received a shield on this occasion from the Minister of Petroleum and Mineral Resources and a gift from the Forum's Secretariat delivered by its Secretary General.
Afterwards, the King graced a luncheon held in his honor.
The Speech ceremony and the banquet were attended by Prince Mishaal bin Abdulaziz; Prince Miteb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Badr bin Abdulaziz, Deputy Commander of the National Guard; Prince Miqren bin Abdulaziz, Chief of General Intelligence; princes; ministers and senior officials.
Then the King received U.S. Energy Secretary Samuel Bodman and the accompanying delegation.
The U.S. Secretary conveyed to the King the greetings of U.S. President George W. Bush. In turn, the Monarch sent his greetings to the President.
The audience was attended by Prince Mishaal bin Abdulaziz; Prince Miteb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Salman bin Abdulaziz, the Governor of Riyadh Region; Prince Miqren bin Abdulaziz, Chief of General Intelligence; Minister of Petroleum and Mineral Resources, Eng. Ali Al-Naimi; Minister of Finance, Dr. Ibrahim Al-Assaf and U.S. Ambassador to the Kingdom. James Oberwetter.
Then the King received British Chancellor of the Exchequer Gordon Brown and the accompanying delegation.
The Chancellor conveyed to the King the greetings of Britain's Queen Elizabeth II; Crown Prince Charles and Premier Tony Blair. In turn, the Monarch sent his greetings to the British leadership.
The audience was attended by Prince Mishaal bin Abdulaziz; Prince Miteb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Miqren bin Abdulaziz, Chief of General Intelligence; Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi; Minister of Finance Dr. Ibrahim Al-Assaf and British Ambassador to the Kingdom Sherard Cowper Coles.
The King also received the French Minister of Economy, Finance and Industry, Thierry Breton and the accompanying delegation.
The Minister conveyed to the King the greetings of France's President Jacques Chirac. In turn, the Monarch sent his greetings to the President.
The audience was attended by Prince Mishaal bin Abdulaziz; Prince Miteb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Miqren bin Abdulaziz, Chief of General Intelligence; Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi; Minister of Finance Dr. Ibrahim Al-Assaf and French Ambassador to the Kingdom Charles Henri d'Aragon.
Then the King received a message from Japan's Premier Junichiro Koizumi.
The message was delivered to the King during his audience with the Japanese Special Representative of the Premier, Hiroki Hosoda and the accompanying delegation.
The Representative conveyed to the King the greetings of Japan's Emperor Akihito and the Premier. In turn, the Monarch sent his greetings to the Japanese leadership.
The audience was attended by Prince Mishaal bin Abdulaziz; Prince Miteb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Miqren bin Abdulaziz, Chief of General Intelligence; Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi; Minister of Finance Dr. Ibrahim Al-Assaf and Japanese Ambassador to the Kingdom Yasuo Saito.
The King also received a message from the Indian President, Abu Bakr Zein Al-Abedeen Abdulkalam.
The message was delivered to the King during his audience with India's Minister of Petroleum and Natural Gas, Mani Shankar Aiyar and the accompanying delegation.
The Minister conveyed to the King the greetings of the Indian leadership. In turn, the Monarch sent his greetings to the Indian leadership.
The audience was attended by Prince Mishaal bin Abdulaziz; Prince Miteb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Miqren bin Abdulaziz, Chief of General Intelligence; Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi; Minister of Finance Dr. Ibrahim Al-Assaf and Indian Ambassador to the Kingdom Momona Othman.
Then the King left the venue after warm welcome and farewell.
