Kedah, Malaysia , SPA :
Malaysian Prime Minister Dato Seri Mohammad Najib Tun Abdul Razzaq received a message sent by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to Sultan Mohammed V, King of Malaysia and conveyed by Saudi Minister of Energy, Industry and Mineral Resources Engineer Khalid bin Abdulaziz Al-Falih during a meeting here yesterday.
During the meeting, they reviewed the fields of cooperation and the joint work between the two sisterly countries, including cooperation to enhance balance in world oil markets, whose results are clearly shown through the production reduction agreement between the oil producing countries within OPEC Organization and outside it since the beginning of this year.
The meeting discussed the developments in international oil markets, the progress of the production reduction agreement, and the importance of the commitment of the participating countries in this agreement to reduction rates allocated to each country to achieve balance in the international oil market.
The two parties stressed the need for all States participating in the Convention to adhere to the agreed reduction rates in full and on a continuing basis.
The preparations for the meeting between OPEC member states and producing countries outside it to be held in Austria, Vienna, November 30, 2017, and means of working to support the reasons for the success of the meeting were discussed for the benefit of all of the two countries, and exporting and importing countries at the same time.
Engineer Al-Falih also discussed with Malaysian Prime Minister the most important aspects of bilateral cooperation in the fields of energy, industry and investment, especially the progress made between Aramco and Petronas to implement Refinery and Petrochemical Integrated Development (RAPID) Pengerang Integrated Complex.
The two countries welcomed Saudi Aramco's participation with Malaysia's Petronas to develop and own this giant and integrated complex for refining and petrochemicals in the state of Johor, Malaysia, which will significantly contribute to supporting the long-term economic partnership between the two countries and enhancing their cooperation in the field of energy.