Saudi says oil security main topic at Riyadh meeting

DUBAI (Reuters) - Security of oil supplies will be a core topic at a meeting of Asian oil exporters and consumers in OPEC kingpin Saudi Arabia this week, the Saudi oil minister said in remarks broadcast on Monday.
Ali al-Naimi, in an interview with the state-run television, did not say if the talks would tackle contingency plans in case tensions between fellow OPEC exporter Iran and the United States over Tehran's nuclear program led to a military confrontation in the world largest oil exporting region.
"The most important thing for consumers and producers is the security of energy," Naimi said.
"Consumers are interested in receiving supplies at a suitable time and at the desired volume. As for producers, energy security is represented in securing a guaranteed market for their output. This is one of the main topics which would be discussed."
Reuters Pictures

Editors Choice: Best picturesfrom the last 24 hours.View Slideshow
if(!CMSB_ID){var CMSB_ID=""} CMSB_ID+="043007_MIDART_editorschoice,";document.write('');
Days after Riyadh said it foiled a militant plot against its oil facilities, the Saudi capital will host the second meeting of Middle East and Asian oil ministers, where importers will be looking for reassurance that oil facilities can be protected.
Security of supply is a constant concern for Asian importers, who buy 55 percent of their oil from the Middle East.
The United States, which says Iran is trying to build an nuclear bomb, has said it wants a diplomatic solution to the standoff but has not ruled out military action if that failed.
Iran says its nuclear program is only for power generation, but the standoff has raised regional fears of a war. Continued...
© Reuters 2007. All Rights Reserved.