Dubai, Jun 3: The Saudi-led Arab Coalition targeted Iran-backed Houthi militia positions along the western coast of Yemen, Saudi state-news agency SPA reported.
Yemen’s official news agency reported that the coalition raids killed 70 Houthi militants as Yemeni resistance forces advanced toward Hodeidah airport and harbor.
It was also reported that 21 militants were captured, while Houthi weapons and military vehicles were destroyed in the raids.
Riyadh, Mar 11: Energy titan Saudi Aramco said Tuesday it will boost crude oil supplies to 12.3 million barrels per day in April, flooding markets as it escalates a price war with Russia.
Riyadh had already slashed its price for April delivery after Russia refused its proposal that producer alliance OPEC+ orchestrate a co-ordinated cut of 1.5 million barrels per day.
The production cut had been mooted to shore up global oil prices, which have gone into meltdown as the deadly new coronavirus casts a pall over the world economy, but now price cuts and rising output indicate an unravelling of OPEC+ co-operation.
"Saudi Aramco announces that it will provide its customers with 12.3 million barrels per day of crude oil in April," the company said in a statement to the Saudi stock exchange.
Saudi Arabia, the world's biggest crude exporter has been pumping some 9.8 million bpd so its announcement on Tuesday means it will be adding at least 2.5 million bpd from April.
"The Company has agreed with its customers to provide them with such volumes starting 1 April 2020. The Company expects that this will have a positive, long-term financial effect," the statement said.
Saudi Arabia says it has an output capacity of 12 million bpd but it is not known for how long it can sustain such levels.
The kingdom also has millions of barrels of crude stored in strategic reserves to be used when needed and is expected to use it to provide the extra supply to the global market.
"Production above 12 million bpd shows the Saudis have something to prove," director of Britain-based RS Energy Bill Farren-Price said.
"This is a grab for market share. The taps are open and the prices have been cut sharply," Farren-Price told AFP.
In a quick response, Russian Energy Minister Alexander Novak said Moscow could boost production in the short term "by 200,00-300,000 bpd, with a potential of 500,000 bpd in the near future".
But he stressed that Moscow was in favour of extending a December agreement that had seen OPEC and Russia agree to cut production by 500,000 barrels per day in 2020, lowering output from October 2018 levels by 1.7 million barrels per day.
The events of recent days have signalled a disintegration of collaboration between OPEC and Russia.
Russia is a non-OPEC member and the world's second-biggest oil producer, but Moscow and other non-members have in recent years co-operated with the oil cartel in an arrangement known as OPEC+.
The Saudi price cuts over the weekend, which were the first salvo in the price war, sent oil prices crashing -- registering the single biggest one-day loss in three decades on Monday.
Saudi Arabia draws around 70 per cent of its revenues from oil, and the revenues are key to ambitious reform programmes launched by Crown Prince Mohammed bin Salman.
Dubai, May 26: An Indian expat, who recently recovered from COVID-19, fell to his death from a building in Dubai, police said.
The 26-year-old Indian national identified as Neelath Muhammed Firdous from Kerala, fell from the seventh floor balcony of his building where he stayed with six others including his uncle, Naushad Ali, 33.
A Dubai Police official confirmed the incident to Gulf News on Monday and said it had been a suicide.
"He was suffering from a mental disorder and there is no criminal suspicions behind his death," said the official.
"The incident happened on Sunday," the official confirmed.
The victim's relative said: "(He) awoke early to perform prayers and everyone was getting on with their daily morning chores when he walked to the balcony and jumped.
"He was suffering from a mental disorder and had been disturbed for some time. He thought everyone was out to attack him and had stopped eating his food as he thought people were feeding him poison. He was refusing to even take water from us."
The victim had tested positive for COVID-19 on April 10. On May 7, he was discharged from a Dubai hospital after clearing all tests.
The relative told Gulf News that he had registered the victim in the Department of Non-Resident Keralites Affairs (NORKA) last month in order to repatriate him, however he was unsuccessful in procuring a ticket.
Dubai, Apr 16: Saudi Arabia reported 518 new cases of coronavirus, bringing the total number of infections in the country to 6380, the Ministry of Health announced on Thursday.
According to the ministry of health, the number of recoveries today were 59, making total of recoveries in the kingdom 990, with 71 critical cases in intensive care.
The ministry also confirmed 4 deaths, bringing the total number of deaths in the kingdom to 83.
Saudi Arabia imposed a 24-hour curfew and lockdown on the cities of Riyadh, Tabuk, Dammam, Dhahran and Hofuf and throughout the governorates of Jeddah, Taif, Qatif and Khobar. This week the curfew was extended until further notice by king Salman
Overall, Saudi Arabia has reported one of the lowest rates of infections in the region, with around 6000 cases in a population of over 30 million.
Private sector support
Saudi Arabia has allocated SR50 billion (Dhs49 billion)to support the private sector as part of its package of initiatives approved by King Salman on Wednesday aimed at mitigating economic repercussions from the coronavirus disease (COVID-19).
The package targets small and medium-sized enterprises (SMEs) and economic activities that have been most affected by the pandemic.
Comments
Add new comment