Saudi energy minister: Oil market would balance even without cuts

November 28, 2016

Dhahran, Nov 28: Saudi Arabia's Minister of Energy, Industry and Petroleum Khalid Al-Falih on Sunday said he believed the oil market would balance itself in 2017 even if producers did not intervene, and that keeping output at current levels could therefore be justified.

falihUnder a preliminary agreement reached in September in Algeria, the Organization of the Petroleum Exporting Countries (OPEC) would reduce its production to between 32.5 million and 33 million barrels per day, its first supply curb since 2008.

OPEC oil ministers meet in Vienna on Wednesday in an effort to finalize that deal; OPEC also wants non-OPEC producers such as Russia to support the intervention by curbing their output.

Falih said on Sunday the Kingdom was sticking to its position on the Algiers agreement that everyone should cooperate.

“We expect the level of demand to be encouraging in 2017, and the market will reach balance in 2017 even if there is no intervention by OPEC. But OPEC intervention aims to expedite this balance and the market recovery at a faster pace,” he said.

Asked whether Saudi Arabia was keeping its output high in November at around 10.6 million barrels per day, however, Falih said: “The level of demand for Saudi crude is still high and very healthy.”

“Regardless of Saudi and its market share, I think if we look at it as an indication of the health and recovery of the oil markets, it is a positive sign that makes us optimistic about the market recovery.”

“I don’t think that we have one path only in OPEC meetings, which is cutting production — I think maintaining production at current levels is justifiable, taking into consideration the recovery of consumption and growth in developing markets and the United States,” he added.

Falih, speaking to reporters at the headquarters of national oil giant Saudi Aramco, did not elaborate on Saudi Arabia’s planned production levels.

A meeting between OPEC and non-OPEC producers was originally due to be held on Monday this week, but it was called off after Saudi Arabia declined to attend; Falih said on Sunday this was because no agreement within OPEC had been reached so far.

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News Network
March 24,2020

Riyadh, Mar 24: General Directorate of Passports (Jawazat) on Tuesday asked all expatriates in the Kingdom, who have a final exit visa or an exit and reentry visa, to quickly cancel them before their expiry. This is to avoid the prescribed fines for not availing of these visas before their expiry date, the Saudi Press Agency reported.

The new measure was taken following the Saudi government’s suspension of international flights as part of the preventive and precautionary measures to stem the spread of new coronavirus. The Jawazat asked expatriates to verify the validity of such visas and cancel them through Ministry of Interior’s electronic service portals of Absher or Muqeem.

It underlined the need to adhere to the regulations and instructions in order to avoid fines prescribed by law against the violators.

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KAJOOR MOHAMME…
 - 
Tuesday, 24 Mar 2020

My reentry expair date 26-03-2020 plz help me

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News Network
May 3,2020

Dubai, May 3: Over 150,000 Indians in the UAE, who wish to return home amid the coronavirus lockdown, have applied through the online registration process to the Indian missions here, according to media reports.

The Indian missions in the country last week opened online registration for the expatriates who wish to fly back home after getting stuck in the country amidst the lockdown due to the coronavirus pandemic.

As of 6 pm on Saturday, we received more than 150,000 registrations, Consul General of India in Dubai Vipul told the Gulf News on Saturday.

A quarter of them want to return to their homeland after losing their jobs, he said.

According to a report in the Khaleej Times on Sunday, about 40 per cent of the applicants who have registered are blue-collared workers and 20 per cent are working professionals.

"Roughly 20 per cent have suffered job losses and about 55 per cent of the total applicants are from Kerala," Neeraj Aggarwal, Consul, Press, Information, Culture was quoted as saying in the report.

Aggarwal said that the figures would change as they are expecting registrations from workers from other states, including Telangana, Uttar Pradesh, and Bihar.

About 10 per cent of the applicants are visit and tourist visa holders who got stranded here due to the ongoing lockdown in India.

India extended the ongoing lockdown by two weeks from May 4 to contain the spread of the coronavirus that has affected nearly 40,000 people in the country.

Aggarwal said that a small number of the applications constitute those from pregnant women and other medical cases.

Since the online registration process was launched, the Consulate's website crashed several times due to the heavy rush of applicants wishing to register to fly back home.

The site has been working fine now though it took a lot of time for it to stabilise in the initial phase due to the heavy traffic, the counsel general said.

He said that the missions here have not yet received any information from the Indian government about the mode of transport of the stranded citizens, the prices of the tickets or how the COVID-19 test results of applicants would be assessed for their journey.

There are high-level discussions going on regarding these things, he said in the report.

Meanwhile, Norka (The Non Resident Keralites Affairs) said it has received a total of 398,000 applications from Keralites across the globe who wish to return home.

"Of which, the highest numbers are from the UAE. At least 175,423 applicants have signed up from the UAE," Norka said in an official statement on Saturday.

It also received 54,305 registrations from Saudi Arabia, 2,437 from the UK, 2,255 from the US, and 1,958 from Ukraine from those who wish to return to India, the Khaleej Times reported.

The coronavirus has infected 13,599 people and claimed 119 lives in the UAE, the Ministry of Health and Prevention said on Saturday.

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Agencies
April 2,2020

Ankara, Apr 2: Saudi Arabia on Thursday declared a 24-hour lockdown in all parts of Makkah and Medina cities as part of measures to stem the spread of the coronavirus.

"The 24-hour curfew will be imposed in all parts of the cities of Makkah and Medina, with a ban on entry and exit from both cities," the Saudi Interior Ministry said on Twitter.

The lockdown starts from Thursday “until further notice.”

All commercial activities inside the residential neighborhoods of the two cities were also prohibited, except for pharmacies, food products stores, gas stations and banking services, the ministry said.

After first appearing in Wuhan, China last December, the virus has spread to at least 180 countries and regions, according to U.S.-based Johns Hopkins University.

Its data shows the number of confirmed cases worldwide have surpassed 962,900, with the death toll over 49,100 and more than 202,700 recoveries.

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