THE HAGUE – Minister of Petroleum and Mineral Resources Engineer Ali Ibrahim Al-Naimi said the Kingdom welcomes and encourages all new sources of energy in the long run due to the increasing world population, while confirming that the Kingdom for several decades has exported its natural resources including oil, gas and minerals to the world with integrity. These exports have helped boost the economic growth in the Kingdom and the world, Al-Naimi said in a speech at Clingendael Institute for International Relations in the Hague, Holland, on Friday, SPA reported. His comment on new sources of energy was in response to a query about the probable effects of shale oil following new discoveries in the US. He also said though the Kingdom has profited from exporting these natural resources to different countries, this alone, however, was not sufficient to provide large numbers of job opportunities to the increasing population in the Kingdom. “Therefore, the Kingdom has taken important steps to lay down long term and more sustainable economic bases for the country,” he added. Al-Naimi stated: “These steps are based on establishing integrated refineries, petrochemical industries and minerals industry that contribute to add value to our business and economy, boosting our economic activities, establishing businesses and commercial activities that help us achieve what we aspire to and working in creating sustainable job opportunities for the Saudi youth.” “The Kingdom's people form the greatest asset for us. Therefore, we invest in education in a comprehensive way and attach importance to activities related to research and development,” he said. Al-Naimi said the Kingdom is now working in building integrated industrial complexes or developing and expanding them in Jubail and Ras Al-Khair in the eastern part of the Kingdom, in Jazan in the south and Wa'd Al-Shimal in the north. The Kingdom is also developing petrochemical industries so as to produce materials that can be used in the pharmaceutical field, paints and dyes, detergents, among others. Despite the industrial diversity in the Kingdom, it gives attention and care to matters related to the environment and climate, he added. — SG
