Saudi Arabia assures RP of stable crude supply

THE KINGDOM of Saudi Arabia, the country’s biggest crude supplier, has assured the government of stable crude supply, in the event of supply constraints from the Philippines’ other suppliers.
In a meeting with Asian energy ministers, Saudi Arabia Petroleum Minister Ali Al-Naimi reiterated to Energy Secretary Raphael Lotilla that his country was ready and willing to “make up for any shortfall” in case of supply disruptions that would affect the Philippines.

“And we will do it with pleasure,” Al-Naimi said.

Last year, Saudi Arabia accounted for 56 percent of the country’s crude supply, equivalent to 43.83 million barrels.

AsianJournal