Saudi Arabia offers sympathy to US over Katrina but no oil pledge

Dubai (Platts)--5Sep2005

Saudi Arabia Monday expressed its sympathy with the US over the
devastation caused by Hurricane Katrina and said it stood ready to "offer
whatever is needed" to help alleviate its impact.

     But the world's leading oil producer and exporter stopped short of
renewing an offer made last week by its oil minister, Ali Naimi, to open its
crude oil taps to make up for lost production in the Gulf of Mexico.

     "The Saudi Arabian government and its people express their sympathy with
the United States and the effect of Hurricane Katrina on the southeaster US
and the loss of life and destruction it caused," said a statement issued after
the weekly cabinet meeting chaired by King Abdullah. The kingdom expressed
"readiness to offer everything that will help alleviate the impact of the
hurricane and its repercussions," said the statement carried by the official
Saudi Press Agency.

     Saudi Arabian oil minister Ali Naimi issued a statement last week
offering to raise Saudi crude oil production to 11-mil b/d immediately and
maintain that level in order to help alleviate the shortage of crude from the
US Gulf, where most of 1.5-mil b/d average production was halted by the storm
and remains disrupted.

     Kuwait has said it would offer $500-mil worth of refined products to help
ease shortages caused by Katrina while fellow OPEC producer Qatar has made a
cash pledge of $100-mil.

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