The unit’s operational rates were still high and oil product exports will not be affected, an official said.
Naimi met the representatives and exchanged views about recent oil market developments as well as ways to develop oil cooperation.
Water and power use in Saudi Arabia are growing about eight per cent annually, putting a pressure on the government.
Lukoil was the last company left active in the consortia of international oil firms Saudi Arabia invited in 2003-2004 to search for gas.
The firm made a net profit of 285.1 million riyals ($76 million) in the first quarter of 2015.
State-controlled Petroleum Development Oman plans to invest over $40 billion in its projects by 2019.
The Saudi cabinet also affirmed that the Kingdom is not in competition with shale or other high-cost oil supplies.
The French oil company failed to make commercially attractive discoveries in the block.
The firm made a profit of 355.7 million riyals in the first quarter of 2015, a statement said.
The company said that one of its subsidiaries will release a contracted rig in May due to the oil price fall.
For the past two months, the Kingdom had informed some customers that they would receive full contracted volumes, only to trim supply later.
There may not be a big growth in Iranian oil production immediately as Tehran’s huge fields have not been maintained well due to the sanctions, an official said.
Iran gas exports to Kuwait could be operational if a contract is signed, a senior official said.
While global investments are expected to fall by around 20 per cent in 2015 versus 2014, in Gulf countries the reduction is likely to be just 5 per cent.
The increase is in line with the growth in world consumption, which is likely to increase to 105 million bpd in 2025.
The syndication phase was launched on Wednesday and will allow additional lenders to join in the facility.
The slump in the previous session was triggered by a shock jump in U.S. crude inventories and record Saudi output.
Bahri expects to book revenues of at least $67 million annually from the deal.
Halving of oil prices from $115 a barrel in June on global oversupply is hurting OPEC’s less wealthy members outside the Gulf.
Rules introduced in the last few years require homes and businesses to install insulation and tighten standards for air conditioners.
The EIA said U.S. oil production growth was slowing more quickly than expected, while demand was higher than earlier forecast.
The Kingdom produces more than 10 per cent of the world’s crude.
The Saudi oil minister also said he expected oil prices, that have languished near six-year lows, to improve in the near future.
The new 400,000 barrel per day refinery had previously started exports of diesel and gasoline.
Brent regained ground after tumbling up to five per cent on Thursday, when a preliminary nuclear deal was reached between world powers and Iran.
The new funding will be used to finance the company’s current and future projects and international expansion plans.
The UAE is building an LNG import facility in Fujairah, known as EmiratesLNG, with a capacity of nine million tonnes a year.
The new firm will provide wireline and mechanical intervention services for oil and gas wells.
The company lost Dhs3.63 billion in the fourth quarter of 2014.
Testing of the plant’s performance will take between three and six months, the company said.