10 January 2012
RIYADH -- The Kingdom wants stability in oil prices and seeks a balance between supply and demand in the international market.
This came Monday during the Cabinet meeting here which was presided over by King Abdullah, Custodian of the Two Holy Mosques.
The Cabinet reviewed recent developments in international oil markets and regional commitments and said the boycott of oil imports from any source was an internal affair concerning individual countries.
Regarding the Kingdom's oil sales, however, the Cabinet viewed it as a purely commercial operation which is part of the commitment between Saudi oil companies and the buying commercial oil companies "according to the known marketing principles."
King Abdullah briefed ministers on the talks and consultations he had with a number of leaders of friendly countries and their envoys over current regional and global developments and the Kingdom's stand on them, Dr. Yusuf Bin Ahmad Al-Othaimeen, Minister of Social Affairs and Acting Minister of Culture and Information, said.
The Cabinet reviewed current events in the Arab World and lauded the efforts of the Arab Ministerial Committee on Syria to calm the situation in that country. At its meeting in Cairo Sunday, the committee asked the Syrian government to fully execute all commitments in implementation of the protocol signed between the Arab League and Syria and to protect the lives of its citizens and halt the crackdown on protesters. The ministers also condemned last week's bomb blast in Damascus which claimed many innocent lives.
The meeting welcomed bilateral talks between the Palestinian and Israeli sides in Jordan in the presence of the Quartet committee aiming to reach a common ground for the resumption of the faltering peace process. The Council looked at this as a positive development and expressed its appreciation to the Jordanian government for hosting the meeting.
The Council also condemned the series of explosions in Iraq which resulted in the death of many innocent people.
On local issues, the ministers reviewed progress in the national economy after the approval of the state budget for the fiscal year 2012. They stressed that the Kingdom's development march must continue unhindered and also called for providing more job opportunities for citizens. Al-Othaimeen said King Abdullah stressed the importance of strict and sincere implementation of the budget provisions for the well-being and prosperity of all citizens.
The Cabinet welcomed the restructuring of and amendments to the functioning of the General Authority of Civil Aviation (GACA). A Royal Order issued last month stipulated that the chairman of GACA would also be the chairman of the Board of Directors of GACA. Furthermore, the chairman of the Board of Directors of GACA would also be chairman of Saudi Arabian Airlines.
Paragraph One of Article Two of the GACA organizational structure has been amended to read:
"The General Authority of Civil Aviation enjoys legal entity and financial and administrative independence and will be directly linked to the Prime Minister and be headquartered in Jeddah.
"The Council of Ministers may transfer its headquarters to any part of the Kingdom. It is allowed to open branch offices to carry out its tasks."
Similarly, Article One of the Saudi Arabian Airlines regulations has been amended to read:
"Saudi Arabian Airlines is an independent public institution that enjoys legal entity and is organizationally linked to the Prime Minister and is headquartered in Jeddah. The Council of Ministers may decide to transfer it to any part of the Kingdom."
RIYADH -- The Kingdom wants stability in oil prices and seeks a balance between supply and demand in the international market.
This came Monday during the Cabinet meeting here which was presided over by King Abdullah, Custodian of the Two Holy Mosques.
The Cabinet reviewed recent developments in international oil markets and regional commitments and said the boycott of oil imports from any source was an internal affair concerning individual countries.
Regarding the Kingdom's oil sales, however, the Cabinet viewed it as a purely commercial operation which is part of the commitment between Saudi oil companies and the buying commercial oil companies "according to the known marketing principles."
King Abdullah briefed ministers on the talks and consultations he had with a number of leaders of friendly countries and their envoys over current regional and global developments and the Kingdom's stand on them, Dr. Yusuf Bin Ahmad Al-Othaimeen, Minister of Social Affairs and Acting Minister of Culture and Information, said.
The Cabinet reviewed current events in the Arab World and lauded the efforts of the Arab Ministerial Committee on Syria to calm the situation in that country. At its meeting in Cairo Sunday, the committee asked the Syrian government to fully execute all commitments in implementation of the protocol signed between the Arab League and Syria and to protect the lives of its citizens and halt the crackdown on protesters. The ministers also condemned last week's bomb blast in Damascus which claimed many innocent lives.
The meeting welcomed bilateral talks between the Palestinian and Israeli sides in Jordan in the presence of the Quartet committee aiming to reach a common ground for the resumption of the faltering peace process. The Council looked at this as a positive development and expressed its appreciation to the Jordanian government for hosting the meeting.
The Council also condemned the series of explosions in Iraq which resulted in the death of many innocent people.
On local issues, the ministers reviewed progress in the national economy after the approval of the state budget for the fiscal year 2012. They stressed that the Kingdom's development march must continue unhindered and also called for providing more job opportunities for citizens. Al-Othaimeen said King Abdullah stressed the importance of strict and sincere implementation of the budget provisions for the well-being and prosperity of all citizens.
The Cabinet welcomed the restructuring of and amendments to the functioning of the General Authority of Civil Aviation (GACA). A Royal Order issued last month stipulated that the chairman of GACA would also be the chairman of the Board of Directors of GACA. Furthermore, the chairman of the Board of Directors of GACA would also be chairman of Saudi Arabian Airlines.
Paragraph One of Article Two of the GACA organizational structure has been amended to read:
"The General Authority of Civil Aviation enjoys legal entity and financial and administrative independence and will be directly linked to the Prime Minister and be headquartered in Jeddah.
"The Council of Ministers may transfer its headquarters to any part of the Kingdom. It is allowed to open branch offices to carry out its tasks."
Similarly, Article One of the Saudi Arabian Airlines regulations has been amended to read:
"Saudi Arabian Airlines is an independent public institution that enjoys legal entity and is organizationally linked to the Prime Minister and is headquartered in Jeddah. The Council of Ministers may decide to transfer it to any part of the Kingdom."
© The Saudi Gazette 2012
