Egyptian arrested in Kuwait after failed attack on US soldiers

Riyadh, Jul 5: Custodian of the Two Holy Mosques King Salman has approved the extension of the validity of the expired iqama (residency permit) and exit and reentry visas of expatriates who are outside the Kingdom for a period of three months without any fee.

The iqama of expatriates inside the Kingdom as well as the visa of visitors who are in the Kingdom of which the validity expires during the period of suspension of entry and exit from the Kingdom will also be extended for a period of three months without any charge.

The validity of final exit visas as well as exit and reentry visas issued for expatriates, who are in the Kingdom, but were not used during the lockdown period will be extended for a period of three months without any fee, the Saudi Press Agency reported quoting an official source at the Ministry of Interior.

The ministry source said that these measures were taken as part of the continuous efforts made by the government of King Salman to mitigate the effects of the coronavirus pandemic on individuals as well as on private sector establishments and investors, economic activities in the Kingdom, following the adoption of the preventive measures to stem the spread of the pandemic.

The beneficiaries of the King’s order include all expatriates who are outside the Kingdom on exit and reentry visas, which expired during the lockdown period and after lifting of the lockdown.

These expatriates are not in a position to return to the Kingdom due to the enforcement of suspension of international flight service and temporary ban on entry and exit from the Kingdom.

The beneficiaries also include those expatriates who are still in the Kingdom after issuance of final exit visas or exit and reentry visas but could not travel because of the suspension of entry and exit from the Kingdom.

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.

Riyadh, Jun 18: Minister of Tourism Ahmed Al-Khateeb said that Saudi Arabia will resume tourist activities at the end of Shawwal (June 21) after a hiatus of more than three months due to lockdown measures imposed following the outbreak of coronavirus pandemic.

The minister made the remarks during a television interview after chairing the emergency meeting of the Arab Ministerial Council for Tourism on Wednesday. He said that the current indications are positive and that the Kingdom is ready to launch the summer program, which will be a boost for domestic tourism.

“It was revealed in a research study carried out by the Tourism Authority that 80 percent of Saudi citizens want to take advantage of domestic tourism. We will launch the domestic tourism program for the public after having made necessary coordination with the Ministry of Health and the concerned higher authorities,” he said.

Several Arab tourism ministers and officials of the relevant organizations attended the meeting, which discussed the challenges that the region’s tourism sector is facing due to the pandemic. Al-Khateeb pointed out that the Arab Ministerial Council for Tourism, headed by Saudi Arabia, held the virtual session in exceptional circumstances to discuss ways to get out of this pandemic and revitalize the tourism sector.

“Saudi Arabia has initiated a package of financial stimulus activities with a total value of more than $61 billion to protect jobs and businesses and reduce the economic burden of the crisis. The domestic tourism sector has benefited from it as one of the important economic sectors, as it covered 60 percent of salaries of Saudi employees in the private sector for a period of three months,” he added.