Petroleum Minister: Kingdom Welcomes Production of Shale Oil Contributing to Stability of Oil Market

الأحد 1435/3/18 هـ الموافق 2014/01/19 م واس
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Riyadh, Rabi'I 18, 1435, Jan 19, 2014, SPA -- The Minister of Petroleum and Mineral Resources Eng. Ali bin Ibrahim Al-Naimi met here today with U.S. Secretary of Energy Dr. Ernest Moniz and his accompanying delegation.
During the meeting, they reviewed bilateral cooperation between the two countries in the fields of oil, gas, energy, the situations of the oil market, the continuation of its stability, environmental issues, climate and technological change, and oil shale.
The Minister of Petroleum and Mineral Resources said after the meeting that the Kingdom of Saudi Arabia and the United States of America have been binding by a close relationship in the field of petroleum and energy over several decades , and it is expected to continue in the future; so it is necessary to continue consultations between our two countries to expand the horizons of cooperation, including joint investments, and working with oil producing and consuming countries for the stability of the global market.
He added in a statement to the Saudi Press Agency (SPA) that they talked also on oil shale, and the increasing of its production from the United States of America and other countries, noting that the Kingdom welcomes this new source of energy supply, which contributes to meeting the growing global demand for energy and the stability of the oil market.
16:17 LOCAL TIME 13:17 GMT