Kingdom will not sell oil to any country imposing price cap – Saudi energy minister

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday the Kingdom would not sell oil to any country that imposes a price ceiling on our supplies. (AP/File Photo)
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Updated 15 March 2023

Kingdom will not sell oil to any country imposing price cap – Saudi energy minister

  • Prince Abdulaziz bin Salman said any ceiling on oil prices would inevitably lead to market instability and Saudi Arabia would reduce oil production
  • He added that OPEC+ group of oil-producing nations have succeeded in bringing stability and transparency to the oil market

RIYADH: Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that the Kingdom will not sell oil to any country that attempts to impose a price cap on its supplies.

Prince Abdulaziz said in an interview published by Energy Intelligence that placing a ceiling on oil prices would inevitably lead to market instability, and Saudi Arabia would reduce its oil production.

The prince added that OPEC+ group of oil-producing nations had succeeded in bringing significant stability and transparency to the oil market, especially in comparison to all other commodities markets.

“The NOPEC bill does not recognize the importance of holding spare capacity, and the consequences of not holding spare capacity on market stability,” he said.

NOPEC refers to a No Oil Producing and Exporting Cartels bill, proposed US legislation that could leave members of OPEC+ open to prosecution under American antitrust laws. The bill, which has been periodically proposed for several years, was revived this month by a bipartisan group of senators in Washington amid ongoing concern about high energy prices.

But, said Prince Abdulaziz: “NOPEC would also undermine investments in oil capacity and will cause global supply to fall severely short of future demand. The impacts will be felt all over the world on producers and consumers alike, as well as on the oil industry.”

Saudi Arabia has proactively embarked on efforts to expand production capacity to 13.3 million barrels per day by 2027.

“The expansion is already under way, in the engineering phase, and the first increment is expected to come onstream in 2025,” the prince said.

“Spare capacity and global emergency stocks are the ultimate safety net for the oil market in face of potential shocks. I have repeatedly warned that global demand growth will outpace current global spare capacity, while emergency reserves are at a historic low.”


Saudi Arabia, Syria in talks to resume consular services — Saudi foreign ministry

Updated 24 March 2023

Saudi Arabia, Syria in talks to resume consular services — Saudi foreign ministry

  • Move comes after Saudi Arabia and Iran decided earlier this month to resume diplomatic relations
  • Last month Riyadh said consensus was growing among Arab nations that Syrian isolation was “not workable”

RIYADH: Saudi Arabia and Syria are in talks to resume consular services between the two countries, Al-Ekhbariya TV said on Thursday.

“Within the framework of the Kingdom’s keenness to facilitate the provision of necessary consular services between the two nations, discussions are underway with officials in Syria to resume consular services,” the TV channel reported, citing a Saudi foreign ministry official.

The report added that the statement from the foreign ministry’s source was in response to international media reports from earlier on Thursday.

The move comes after Saudi Arabia and Iran decided earlier this month to resume diplomatic relations and reopen embassies in both countries, following a China-brokered deal.

In a phone call on Wednesday, Saudi Foreign Minister Prince Faisal bin Farhan spoke with his Iranian counterpart, Hussein Amir Abdollahian, about holding a bilateral meeting in the near future.

On February 19, Prince Faisal said consensus among Arab countries was growing that Syrian isolation was “not workable”, adding that dialogue with Damascus was needed “at some point” at least with regards to the “humanitarian angle.”

He also said on March 8 engagement with Syria might eventually lead to its return to the Arab League, but that at the time, it was “too early to discuss.”


Saudi Civil Defense warns of thunderstorms, dust storms

Updated 24 March 2023

Saudi Civil Defense warns of thunderstorms, dust storms

JEDDAH: The General Directorate of Saudi Civil Defense has urged residents to take precautionary measures against thunderstorms and dust storms that are likely to affect some regions between Friday and Monday. 

The organization, acting on information from the National Center of Meteorology, said the Makkah region will be affected by moderate to heavy rains that may lead to torrential flows. The areas of Taif, Maysan, Adham, Al-Khurmah, Al-Ardiyat, Turbah, Rania, Al-Muwayh, Qia, Khulais, Al-Kamil, Al-Jumum, Bahra, Al-Lith, and Al-Qunfudhah are expected to be hit.

The Riyadh region is also expected to suffer, including the capital, Al-Kharj, Wadi Al-Dawasir, As-Sulayyil, Afif, Al-Duwadmi, Shaqra, Al-Zulfi, Al-Majma’ah, Al-Quwa’iyah, Al-Ghat, Hotat Bani Tamim, Al-Aflaj, Thadiq, Ramah, Al-Muzahimiyah, Al-Diriyah, Dhurma, Huraymila and Al-Dalam.

Authorities stressed the need to stay away from areas where torrents gather, and not to swim in dangerous places. 

Residents have been advised to adhere to instructions announced through the media. 

The regions of Asir, Al-Baha, Jazan, Najran, Madinah, Hail, Tabuk, Al-Jawf, the northern borders, Al-Qasim and the eastern borders are also expected to be affected.

Moderate rains and winds resulting in dust storms are expected in the Makkah region, including Jeddah and Rabigh.

The Civil Defense has stressed the need to stay away from areas where torrents gather, and not to swim in dangerous places.

Residents have been advised to adhere to instructions announced through the media. 

 


Saudi Arabia marks World Meteorological Day

Updated 24 March 2023

Saudi Arabia marks World Meteorological Day

JEDDAH: World Meteorological Day, observed on March 23 every year, is celebrated this year under the theme “The Future of Weather, Climate and Water Across Generations.”

It aims to join efforts at all national, regional and international levels to address the causes of extreme weather events and climate change, as well as the increasing scarcity of water resources.

The occasion also falls on the anniversary of the World Meteorological Organization’s establishment in 1950. The organization acts as an international umbrella that deals with weather and climate predictions, and serves as an effective channel for international cooperation in this vital area of development, urbanization and stability of humans and living organisms on the planet.

Through this year’s theme, the organization aims to pay tribute to the 24-hour national services of the meteorological and hydrological facilities, which collect and consolidate weather prediction data. 

Saudi Arabia is one of the founding states of the organization and undertook significant work in the field of meteorology at the local, regional and international levels. Its work in this regard is reflected in its functions on meteorology and climate, as well as through eight regional and international centers.

These centers are the Jeddah Regional Communication Center, the Regional Center for Drought Monitoring and Early Warning, the Jeddah Regional Climate Center, the Jeddah Global Information System Center, the Operational Information Center for Air Navigation Services, the Jeddah Historical Information Rescue Center, the Atmospheric and Hydrological Research Center, and the Agricultural Meteorology Research Center. 


Jeddah authorities destroy 40 tons of ‘unsafe’ meals

Updated 23 March 2023

Jeddah authorities destroy 40 tons of ‘unsafe’ meals

JEDDAH: Local health authorities destroyed 40 tons of Ramadan meals in Umm Al-Salam in a building that was used to process and store food.

It came as part of the municipality’s efforts to combat health violations and improve the urban landscape, as well as monitor standards in commercial and health institutions, contributing to the safety and security of citizens and visitors.

The municipality said that inspection teams examined a building in Al-Mahameed neighborhood that was used as a warehouse to prepare and store pastries and desserts.

Inspectors found that food was processed near restrooms, and discovered insects and expired items, in addition to improper food storage practices and poor levels of hygiene. The spoiled food items were confiscated and destroyed, and legal procedures were immediately taken to close the site.

The municipality added that it carries out inspection tours to follow up on activities related to public health. 

It commended the cooperation of citizens and residents in improving services by reporting violations through the Baladi application, or the unified center, through the phone number 940. 

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Muslim World League chief, Malaysian PM meet in Makkah

Updated 24 March 2023

Muslim World League chief, Malaysian PM meet in Makkah

MAKKAH: Muslim World League Secretary-General Mohammed bin Abdulkarim Al-Issa met with Malaysian Prime Minister Anwar Ibrahim in Makkah on Thursday.

They  discussed the organization’s initiatives of building bridges between communities based on shared values, and joint cooperation to tackle extremism.

Saudi Arabia and Malaysia enjoy strong brotherly ties.

Malaysia’s Foreign Ministry said in a statement that Ibrahim’s trip to the Kingdom “reflects the special bond and long-standing relationship with the Kingdom and will provide an excellent opportunity for both sides to elevate bilateral relations and cooperation.”

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