The issue of oil security was expected to lead the meeting of Asian oil exporters and consumers in Saudi Arabia beginning on May 9, Middle East Newsline reported. The agenda was set amid a U.S. naval buildup in the Gulf in an effort to deter Iran.

"The most important thing for consumers and producers is the security of energy," Al Naimi said in an interview on Saudi television on April 30.

Last week, Riyad announced the capture of 172 Al Qaida operatives in the kingdom. The operatives were said to have targeted oil facilities in Saudi Arabia and neighboring Kuwait.

"Consumers are interested in receiving supplies at a suitable time and at the desired volume," Al Naimi said. "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."

Officials said Al Naimi would assure Saudi clients that the kingdom could protect oil facilities and shipments through the Gulf. Asian countries purchase 55 percent of their oil from the Middle East.

"The benefit of the roundtable is to promote investments between Asian countries," Al Naimi said. "For example producers need investments in refineries, petrochemical plants and marketing and consumers would like to have investments in services; in gas exploration and so on."

Saudi Deputy Oil Minister Prince Abdul Aziz Bin Salman said Riyad would develop strategic joint ventures with Asian countries. So far, the kingdom has formed joint investments with China, Japan, the Philippines and South Korea.

"The kingdom has a solid base for future commitment to the Asian market," Abdul Aziz said on Tuesday. "We have a huge joint investment coming along in Rabigh in upgrading and expanding refineries."

Saudi Arabia has also restricted the import of dual-use material required for the assembly of explosives.

The Saudi Cabinet has banned the sale of a range of products used in the assembly of explosives. The three-year ban included nitrate compounds in the solid form, with restrictions on the sale of industrial and agricultural chemicals.

"The Cabinet banned the use of ammonium, calcium, potassium and magnesium nitrates as well as their byproducts in solid/granule/powder forms for three years for agricultural purposes," the Cabinet said in a statement.

The April 30 announcement came in wake of the Interior Ministry's disclosure that 172 Al Qaida operatives have been arrested. The operatives were said to have targeted oil facilities, military bases and public figures.

Under the Cabinet decision, farmers would be allowed to use only liquid chemicals as fertilizers. The import of nitrates in their solid form would be reserved for industrial, medical and scientific applications.

"The Agriculture Ministry will nominate four Saudi companies to be the sole importers of these materials, and they will sell them to licensed farmers," the Cabinet said.

The Cabinet also approved research on dual-use chemicals. Under the decision, the state-owned King Abdul Aziz City of Science and Technology and Saudi universities would study chemicals required for the agricultural sector and approve alternatives.

"Everybody must be vigilant and immediately report any suspicious terrorist activities," the Cabinet said.