Wednesday, Dec 07, 2011

(This story was originally published Tuesday.)

DOHA (Zawya Dow Jones)--Global markets have enough oil and gas supplies, the top executive at state-giant Saudi Arabian Oil Co., known as Saudi Aramco, said Tuesday.

"We have adequate oil and gas supplies today," Khalid Al Falih said at a conference in Doha.

He added that Saudi Arabia was in favor of developing renewable energies. "We are not against them but they need to be done prudently and pragmatically," he said.

Aramco expects its large-scale Manifa oil field, which has capacity to produce 900,000 barrels a day of heavy crude, to start up production in 2013, Al Falih said.

-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com

Copyright (c) 2011 Dow Jones & Co.

(END) Dow Jones Newswires

07-12-11 0400GMT