Aramco to increase crude oil supply to 13 million barrels per day

The news comes after a statement on Tuesday that said Aramco would increase its crude oil supply to 12.3 million bpd in April. (File/AFP)
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Updated 12 March 2020
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Aramco to increase crude oil supply to 13 million barrels per day

  • The output had already been increased to 12.3 million on Monday

DUBAI: Saudi Aramco, the world’s largest oil company, announced on Wednesday that it had received a directive from the Ministry of Energy to increase its output from 12 million to 13 million barrels per day (bpd).

The news comes after a statement on Tuesday that said Aramco would increase its crude oil supply to 12.3 million bpd in April – an increase of approximately 2.5 million bpd on the previous month.

The announcement - coming in the middle of unprecedented volatility in global energy markets - was preceded by a brief suspension of its shares on the Tadawul (the Saudi stock exchange), at its own request, as is required when a listed company is about to announce a “material event.”

The increase in crude production to record levels is in a bid to win market share in the global tussle over energy prices.

The move to increase output dramatically follows notification to customers that Aramco would offer big discounts around the world, and further ratchets up the pressure on global energy markets.

Tuesday’s announcement was followed by an immediate response by Russia, the world’s second biggest producer, with its own output increase.


US Republicans confront Biden over pausing arms to Israel

Updated 2 min 8 sec ago
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US Republicans confront Biden over pausing arms to Israel

  • The Israel Security Assistance Support Act would prevent Biden from freezing any congressionally approved military aid to Israel

WASHINGTON: The Republican-led US House of Representatives voted Thursday to force President Joe Biden to end his hold on high-payload bombs approved for Israel but blocked over concerns about their use in Gaza.
The largely symbolic move — it has no chance of becoming law — is a response to Biden suspending the shipments over fears of mass Palestinian casualties as Israeli forces press their assault on the densely populated city of Rafah.
The Israel Security Assistance Support Act would prevent Biden from freezing any congressionally approved military aid to Israel, including 3,500 2,000-pound and 500-pound bombs that he has put on hold.
Republicans say Biden has no right to interfere with Israel’s military campaign, but House Democratic leadership described the bill as “another partisan stunt” infringing on the president’s ability to conduct foreign policy.
Nevertheless, 16 Democrats crossed the aisle to join Republicans in passing the bill by 224 votes to 187, while a further 13 did not vote, in a rare rebuke of Biden from a small but significant section of his own side.
The legislation will be dead on arrival in the Democratic-led Senate and Biden has pledged to veto it in any case.
The war in Gaza broke out after the October 7 attack by Hamas militants on southern Israel which resulted in the deaths of more than 1,170 people, mostly civilians, according to an AFP tally based on Israeli official figures.
Israel’s military retaliation has killed at least 35,233 people, mostly civilians, according to the health ministry in Hamas-ruled Gaza.
The White House has voiced frustration with Israel over the rising civilian death toll and particularly in its ground assault on Rafah, where more than one million people are sheltering.
Secretary of State Antony Blinken told NBC on Sunday that Israel “is on the trajectory potentially to inherit an insurgency with many armed Hamas left, or, if it leaves, a vacuum filled by chaos, filled by anarchy, and probably refilled by Hamas again.”
Republican House Speaker Mike Johnson accused Biden of “carrying water” for Hamas at the same time as doing nothing to stop the “dangerous nuclear buildup” in Iran, which attacked Israel last month.
“The president took no decisive action when Iran was planning to attack Israel, and now that Israel is fighting for its very survival, he is withholding weapons and threatening to veto legislation that would give the Israelis what they need to adequately defend themselves,” he said in a statement.
“The president and his administration need to reverse course immediately to stand with Israel and against the terrorism and atrocities of Iran and its proxies.”
The White House announced a $1 billion-plus package of arms for Israel this week that includes tank and mortar ammunition, offering cover for pro-Israel Democrats to reject the bill.


Messi’s record $20.4 million salary dwarfs entire MLS teams

Updated 15 min 18 sec ago
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Messi’s record $20.4 million salary dwarfs entire MLS teams

MIAMI: Lionel Messi’s record $20.45 million annual salary from Inter Miami makes him by far the best paid player in Major League Soccer but also puts him ahead of the entire squads of 25 of the league’s clubs, according to data released by the MLS Players Association on Thursday.
The players union regularly releases the full pay details of the entire league and while it was no surprise to see the eight-times Ballon d’Or winner at the top, the gulf with other players and indeed teams is striking.
Messi has a guaranteed compensation of $20,446,667 made up of a base salary of $12 million plus various bonuses.
The figures from the players’ union do not include the huge income the Argentine World Cup winner receives in commercial deals, endorsements and sponsorships from companies such as Adidas and Apple.
Messi signed his last contract with Spanish club Barcelona in 2017, a four-year deal that gave him the potential to earn 138 million euros per season including salary and add-ons.
Messi moved to Paris Saint-Germain in August 2021, after his contract with Barca ended and was reported to be earning between 30-35 million euros with the French club.
The 36-year-old joined Miami in July last year on a deal which runs until the end of the 2025 season but he may still be receiving payments from Barca.
Joan Laporta, the Barca president, said in January 2022 that the club were scheduled to make deferred salary payments to the player until 2025.
Toronto’s Italian striker Lorenzo Insigne, who was MLS’s best-ever paid player until Messi’s arrival, was second on the list with a guaranteed income of $15.4 million from the Canadian club.
Messi’s Spanish team-mate, Sergio Busquets, the 35-year-old former Barca midfielder, is the third top earner in the league on $8.8 million guaranteed.
Miami’s former Barca duo of Uruguayan striker Luis Suarez and Spanish full-back Jordi Alba each earn $1.5 million per year.
Inter Miami’s total wage bill is $41.68 million with Toronto second on $31.41 million. Current league champions, the Columbus Crew, had a total salary cost of $15.19 million, ranked 21st in the league.
Messi shares a dressing room with a number of team-mates earning just a tiny fraction of his income — defender Noah Allen, a regular part of the matchday squad, earns a total of $91,383.
The average MLS salary is $594,390 in 2024 which is up 12.1 percent from last year.
Miami are able to pay Messi such a high salary because of the ‘Designated Player’ rule which was brought in to allow Los Angeles Galaxy to sign David Beckham in 2007 on a base salary of $6.5 million a year with his total deal earning him around $50 million in five years.
While Messi’s income is huge by MLS standards it is well below the levels of top performers in other major sports in the USA.
Last year Cincinnati Bengals quarterback Joe Burrow signed a five-year deal worth $55 million per season, a new league record.
The NBA’s top earner Stephen Curry of the Golden State Warriors makes $51.9 million.


Man arrested in Jazan for transporting 10 illegal migrants

Updated 19 min 22 sec ago
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Man arrested in Jazan for transporting 10 illegal migrants

  • Saudi border guard land patrols also foiled an attempt to smuggle 30 kg of hashish into Al-Raboah, Asir

RIYADH: Al-Afwaj security patrols in Al-Arida, Jazan, arrested a Saudi citizen for transporting in 10 Ethiopians, who illegally crossed the Kingdom’s border in his vehicle.
The 10 Ethiopians were referred to the relevant authorities and, subsequently, to the Public Prosecution.
Media spokesperson of the Ministry of Interior’s Al-Afwaj Regiment said that anyone found to be facilitating illegal entry to the Kingdom, including providing transportation and shelter, could face imprisonment for a maximum of 15 years, a fine of up to SR1 million ($260,000), as well as confiscation of vehicles and property.
Meanwhile, Saudi border guard land patrols in Al-Raboah, Asir, foiled an attempt to smuggle 30 kg of hashish.

Preliminary legal procedures have been completed, and the seized items were handed over to the relevant authority.
Elsewhere, Saudi Border Guard land patrols in Al-Aridah, Jazan, foiled an attempt to smuggle 140 kg of qat. Preliminary legal procedures have been completed, and the seized items were handed over to the relevant authorities.
Patrols of the General Administration of Mujahideen in the Eastern Province arrested a citizen for selling amphetamines.
Citizens and residents with information on drug smuggling or trafficking A few asked to  call 911 in Makkah, Riyadh and the Eastern Province, and 999 in the rest of the Kingdom. They can also contact the General Directorate of Narcotics Control at 995 or email: [email protected]. All reports are treated confidentially.

 


Measured support for end of UN mission in Iraq

Updated 19 min 23 sec ago
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Measured support for end of UN mission in Iraq

UNITED NATIONS: Several members of the UN Security Council, including Russia and China, on Thursday backed Baghdad’s request for the world body’s political mission in Iraq to shut down by next year — but Washington did not immediately offer its support.
Last week, in a letter to the council, Iraqi Prime Minister Mohamed Shia Al-Sudani called for the United Nations Assistance Mission for Iraq (UNAMI), which has been operational since 2003, to end by December 31, 2025.
Iraq’s deputy UN envoy Abbas Kadhom Obaid Al-Fatlawi reiterated the request before the council on Thursday, saying: “The mission has achieved its goals.”
Russian envoy Vasily Nebenzia shared that view, saying “Iraqis are ready to take responsibility for the political future of their country.”
“The remaining problems should not become an excuse for UNAMI to stay in the country indefinitely,” he added.
Within the framework of the mission’s annual renewal, due at the end of May, the council should “propose a plan... in order to ensure its gradual drawdown and smooth transition toward an ultimate withdrawal,” noted China’s deputy UN envoy Geng Shuang.
Given that UN missions can only operate with the host nation’s consent, Britain and France also voiced support for a transition in the partnership between Iraq and the UN.
The US was more vague, with ambassador Linda Thomas-Greenfield saying UNAMI still had “important work to do,” and making no mention of Baghdad’s request.
She emphasized the mission’s key role on several important political issues, such as support for organizing elections and promoting human rights, even though Iraq has clearly asked that the mission focus more squarely on economic issues.
In an evaluation requested by the council, German diplomat Volker Perthes said in March that UNAMI, which had more than 700 staff as of late 2023, “in its present form, appears too big.”
Perthes called on the mission to “begin to transition its tasks to national institutions and the United Nations country team in a responsible, orderly and gradual manner within an agreed time frame.”
Without commenting on Baghdad’s request, mission chief Jeanine Hennis-Plasschaert painted a picture of an Iraq that “looks different to the country to which UNAMI was first deployed some 20 years ago.”
“Today we are, so to speak, witnessing an Iraq on the rise,” she said, while noting multiple challenges yet unresolved, such as corruption and armed groups operating outside state control.
But she added: “I do believe it is high time to judge the country on progress made, and to turn the page on the darker images of Iraq’s past.”


Trump lawyers vie to discredit key witness Cohen at trial

Updated 27 min 5 sec ago
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Trump lawyers vie to discredit key witness Cohen at trial

NEW YORK: Donald Trump’s lawyer took cracks at key witness Michael Cohen during wide-ranging cross-examination Thursday, questioning his memory and poking at his credibility during the first criminal trial of a former US president.
Trump is accused of falsifying business records as he reimbursed Cohen for a $130,000 payment to porn star Stormy Daniels before the 2016 election, when her story of a sexual encounter with Trump could have doomed his campaign.
The defense team has sought to instill doubt by casting Cohen as a disgruntled ex-employee who habitually lies and is out for blood at the trial, which is being heard just six months before election day when Trump hopes to retake the White House.
Under the close watch of Trump, defense attorney Todd Blanche kicked off his second round of questioning off by emphasizing Cohen’s history of lying, especially under oath.
In addition to listing Cohen’s myriad deceptions — which he has admitted to in the past including during direct questioning — the defense also played clips of the witness’s podcast episodes that frequently discussed the former president.
“You better believe I want this man to go down,” he said in one 2020 episode.
Cohen has said repeatedly he takes “responsibility” for his actions and has faced the consequences. Prior to the trial, including in his books, he had done little to hide his contempt for his former boss.
Trump meanwhile has complained his election campaign for another White House term is being stymied by the weeks-long court proceedings, which he has to attend every day.
Branding the case as politicized, he’s taken to bringing an entourage of leading Republicans to New York trial, with his latest crew of allies including congresspeople Matt Gaetz and Lauren Boebert.
The defense did not finish questioning Cohen and will continue Monday. There is no hearing on Friday due to the graduation of Trump’s youngest son, Barron.
Blanche appeared to be trying to crystallize his tactics Thursday after a meandering start this week, when yawns betrayed some jurors’ fatigue.
He has striven to ruffle Cohen, who has a reputation for a temper that could hurt him on the stand.
But Trump’s fixer-turned-foe has stayed largely composed and on topic.
As Blanche tried to catch Cohen in a lie regarding a call to Trump’s bodyguard, Blanche worked to crank the drama, the pitch of his voice rising.
“That was a lie,” Blanche said. “Admit it.”
“No sir,” Cohen replied. “I can’t.”
Prosecutors have indicated Cohen, 57, is their last witness in the case.
His story has generally lined up with both Daniels, and David Pecker, the tabloid boss who said he worked with Trump and Cohen to suppress negative coverage during his 2016 White House run.
Trump, who appeared alert Thursday after spending some time over recent days with his eyes closed, denies he ever had sex with Daniels.
After the prosecution rests, the defense can present a case, but Trump’s lawyers have remained vague on whether their client will testify.
The businessman famously considers himself his own best champion — but legal analysts believe he could be a liability on the stand.
The defense has indicated they wish to call one expert witness to explain campaign finance statutes.
But the prosecution has voiced opposition, saying that only the judge should explain how the law applies.
When the jury begins deliberating, the oft-salacious testimony will likely linger front-of-mind, but they’ll also have stacks of documents to pore over.
The charges hinge on financial records, and whether falsifying them was done with the intent to sway the 2016 presidential vote.
Prosecutors this week walked Cohen and the jury through the issue of 11 checks — most signed by Trump — in return for invoices Cohen said were falsified to cover up the reimbursement, with Trump’s knowledge.
They have said their redirect of Cohen will last approximately an hour when the defense finishes with him, which is expected by Monday midday.
Unless Trump opts to testify, closing arguments could come as soon as Tuesday.