Saudi oil reserves close in on world’s top spot

Arab News
June 12, 2019

Jun 12: Estimates of Saudi Arabia’s crude oil reserves have increased by 12 percent, closing in on Venezuela’s top spot in the world.

In the first major change to the estimated reserves since 1989, BP revised Saudi Arabia’s proved oil reserves to 297.7 billion barrels at the end of 2018 from 266.2 billion a year earlier, only slightly behind 303 billion in Venezuela.

Canada was third with 168 billion barrels, followed by Iran with 156 billion and Iraq with 147 billion.

In its benchmark 2019 Statistical Review of World Energy, BP recalibrated some Saudi gas reserves as oil after Saudi Arabia started separate reporting of oil, gas and natural gas liquids (NGL) reserves, BP chief economist Spencer Dale said.

Saudi Arabia has begun reporting its reserves as it prepares to float the national energy company Saudi Aramco. The listing was postponed and is now planned for early next decade.

Riyadh has rarely changed its oil reserves estimates in the past, despite pumping 8-10 million barrels per day.

BP also said oil reserves for the US, which became the world’s top producer in 2018, were revised upwards by 22 percent to 61.2 billion barrels from 50 billion barrels at the end of 2017.

Overall, global reserves were little changed at 1,729.7 billion barrels, about 50 years’ supply at current levels of global demand.

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News Network
March 24,2020

Mar 24: Saudi Arabia has recorded its first death from the coronavirus in a 51-year-old Afghani resident, Health Ministry spokesman Mohammed Abdelali told a televised news conference on Tuesday.

The man's health deteriorated quickly after reporting to a hospital emergency room in the city of Medina and he died on Monday night, Abdelali said.

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News Network
March 5,2020

Dubai, Mar 5: A 16-year-old Indian girl here has tested positive for the deadly coronavirus, bringing the total number of confirmed infection cases in the UAE to 28, according to media reports.

Health officials here confirmed on Wednesday that a new coronavirus case was detected in the girl who attended an Indian school in Dubai, Al-Arabiya website reported.

The girl tested positive for the COVID-19 after she contracted the infection from her father who travelled overseas, Dubai Health Authority (DHA) was quoted as saying by the report.

The Indian High School in Dubai will be closed from Thursday as a precautionary measure, the Gulf News reported.

"As a precautionary measure, Indian High School Group of schools is closed from Thursday, March 5. Detailed circular about exams will be mailed. Your well-being is important. Take care," the report said.

The father developed symptoms of the virus five days after returning to Dubai. Both the student and family members have been quarantined in hospital and are stable and recovering well. All other family members have also been quarantined, the Khaleej Times reported.

"Within the framework of comprehensive preventive measures against the spread of coronavirus, the DHA is conducting tests and monitoring the students, staff and workers of the school that may have interacted with the coronavirus patient," the DHA was quoted as saying by the Gulf News.

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News Network
April 9,2020

Apr 9: The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, adopted a resolution to grant paid leave to select categories of employees at the federal government.

This move is part of a series of precautionary measures and procedures taken by the UAE government to bring the Covid-19 pandemic under control.

The resolution stipulates that married employees of the federal government may take fully paid leave to take care of their children below the age of 16. The age condition shall not apply to people of determination, as well as in cases where a spouse is subject to self-isolation or quarantine that requires no contact with family members, upon a decision from the Ministry of Health and Prevention.

The resolution also applies to employees whose spouses work in vital health-related occupations, such as doctors, nurses, paramedics and other medical jobs that require exposure to infected people, as well as employees of quarantine centres, throughout the emergency period witnessed by the country.

Pursuant to the resolution, the relevant ministry or federal authority may ask employees holding essential technical occupations to work remotely instead of taking leave.

The resolution was issued in line with the UAE government's keenness to support employees and provide them with a safe and healthy working environment, as well as to protect the health and safety of government employees and their families, during the current crisis that requires greater efforts, additional working hours, and in some cases, exposure to infected people.

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