BALI, Indonesia (Dow Jones)--Saudi Arabia is standing by its climate-change responsibilities, the country's oil minister said Wednesday.
In a short speech at the U.N. Climate Change Conference, Saudi Arabian Minister of Petroleum Ali Naimi reiterated the kingdom's $300 million pledge to research climate change and the environment.
This was offered last month at a rare heads of state meeting of the Organization of Petroleum Exporting Countries in Riyadh.
Saudi Arabia is the world's top oil producer, pumping about 9 million barrels per day.