30 killed, 300 injured in Egypt clashes

Dubai, Mar 9: The eyes of the world will be on the oil markets when the big trading hubs in Europe and North America open following the end of the deal between Saudi Arabia and Russia that has helped to sustain crude at relatively high levels for the past three years.

There were big falls on Friday when ministers from the Organization of the Petroleum Exporting Countries (OPEC) failed to get a deal with non-OPEC members — the so-called OPEC+ — to extend output agreements. Brent oil was down nearly 10 percent at $45.27 going into the western weekend.

Saudi Aramco took immediate action to cut prices after the OPEC+ collapse, offering big discounts for crude deliveries from next month, when the current output restrictions end.

According to a notification sent to customers by Saudi Aramco, seen by Arab News, the Kingdom’s oil giant will cut between $4 and $8 per barrel, with the biggest discounts being offered to buyers in northwest Europe and the US.

Roger Diwan, an oil analyst at consultancy IHS Market, said: “We are likely to see the lowest oil prices of the past 20 years in the next quarter.”

West Texas Intermediate, the US oil benchmark, fell to $28.27 in November 2001.

The move raises the possibility of a “crude war” between the three biggest oil blocs — the US, Russia and the Arabian Gulf. Some analysts believe the American shale industry is more vulnerable to low prices than either the Russians or the Saudis.

Robin Mills, head of the Qamar consultancy, told Arab News: “I don’t think this was premeditated but Saudi Arabia has clearly swung quickly into action to put the Russians under pressure. But the Russians, with low debt and a flexible exchange rate, can cope with a few months of low prices.”

The boom in US shale has made the country the biggest oil producer in the world, but with high financing costs. Lower global prices would put a lot of shale companies out of business.

On the other hand, American motorists, and President Donald Trump, would be pleased to see lower fuel prices in an election year.

In Moscow, one prominent financier with ties to the Kingdom played down the long-term significance of the Vienna fallout.

Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, told Arab News: “Saudi Arabia is our strategic partner, and cooperation between our two countries will continue in all areas. We will also continue to work within the framework of the Russia-Saudi Economic Council.”

One Russian official, who asked not to be named, added: “There is a good relationship between Alexander Novak, Russian energy minister, and his Saudi counterpart Prince Abdul Aziz bin Salman, and I am sure they will continue talking to each other less formally.”

May 21: Mosques across the UAE will remain closed during Eid Al Fitr, a top official has said. The Takbeer, which is chanted before the special prayers performed on Eid, will be broadcast from mosques 10 minutes before the prayer time.

During the virtual press briefing held on Wednesday, Dr Farida Al Hosani, official spokesperson of the UAE health sector, reminded citizens and expats about the importance of adhering to the safety measures as laid out by the authorities.

Contact tracing process

"Before we began to use Al Hosn app to trace the contacts of Covid-19 cases, the tracking process used to take more than 48 hours. It also depended on the memory and honesty of people. The app is an AI-enabled methodological way to trace individuals who came in contact with Covid-19 cases so that they are isolated. It has proven to be an efficient way to stop the spread of the coronavirus," Dr Farida said.

Install the app

She called on all the public to install the app on their smart phones. "The success of the tracing system via Al Hosn app relies on its use. We hope 50 to 70 per cent of people in the UAE instal and use the app in an effective way."

No sermon

Sheikh Abdul Rahman Al Shamsi, Spokesperson for the General Authority of Islamic Affairs and Endowments, said there will be no sermon for the Eid prayers.

He called on everyone to welcome Eid with joy and positivity and to stay connected with their loved ones via social media.

Mass testing

Dr Amna Al Dahhak Al Shamsi, the official spokesperson of the UAE Government, said mass testing continues across the country.

She stressed on the importance of adhering to precautionary measures and cooperating with the authorities.

Apr 20: Eight Indians, including two engineers, have died due to the novel coronavirus in Saudi Arabia, according to a media report on Sunday.

Mohammed Aslam Khan, an electrical engineer in Makkah, and Azmatullah Khan, an engineer at the Makkah Haram power station, have died due to the COVID-19, Saudi Gazette reported.

Aslam Khan, aged 51, who hailed from Meerut in Uttar Pradesh, was admitted to King Faisal Hospital, Makkah on April 3, following worsening of his condition after being infected with fever and throat pain.

He had been on ventilator for more than two weeks and breathed his last on Saturday night, the paper said.

Khan is survived by wife and a daughter and a son. His wife and children are under self-imposed home quarantine.

Azmatullah Khan, from Telangana, died of coronavirus on Friday.

Mujeeb Pukkottoor, a prominent Indian social worker and general secretary of Makkah chapter of Kerala Muslim Cultural Center, told the paper that the body of Khan was buried in Makkah on Sunday.

Khan, aged 65, had been working with Saudi Binladin Group for the last 32 years.

Fakre Alam, an employee at the Haram Project of Saudi Binladin Group in Makkah, died on Sunday due to infection, the paper said.

Barkt Ali Abdullatif Fakir, an electrical technician working in Medina, also died of coronavirus, it said.

According to the Saudi Ministry of Health’s daily report published on April 14, the number of coronavirus infected cases among workers of Saudi Binladin Group in various parts of the Kingdom stood at 117, and these included 70 cases in Makkah.

The first two Indian fatalities were reported from Medina and Riyadh earlier this month with the death of Shebnaz Pala Kandiyil (29) and Safvan Nadamal (41), both from Kerala.

Mohammed Sadiq, from Hyderabad, working in Jeddah and Suleman Sayyid Junaid (Maharashtra) are other Indians who died due to COVID-19 in the Gulf kingdom, the paper said.

Shebnaz from Panoor in Kannoor district died on April 3 and his body was buried in Medina on April 7. He came back to the Kingdom March 3 after his marriage in January.

Safvan, a taxi driver from Chemmad in Malappuram district, died on April 2 and was buried in Riyadh on April 8.