UN applauds Saudi Arabia’s global humanitarian efforts

October 6, 2016

Riyadh, Oct 6: Saudi Arabia won laurels from the United Nations on Wednesday for its continuous global aid and relief efforts.

Visiting UN Undersecretary-General for Humanitarian Affairs and Emergency Relief Coordinator Stephen O’Brien thanked the Kingdom “for its generosity toward those in the world that have the least.”

UN

Addressing a press conference at the UN House Auditorium in the Diplomatic Quarter, O’Brien also thanked the Kingdom for the hospitality accorded to him.

The UN humanitarian chief, who is visiting Saudi Arabia for the second time, said: “I would like to thank Custodian of the Two Holy Mosques King Salman as well as the Saudi government and the people for the warm welcome I received,” adding that he was pleased to meet key Saudi officials.

O'Brien also expressed his appreciation for the strong and growing partnership between UN humanitarian and relief agencies and the King Salman Humanitarian Aid and Relief Center (KSHARC) in the region and other parts of the world.

“The establishment of the King Salman Humanitarian Aid and Relief Center in 2015 has been a continuation of the Kingdom’s philanthropy to the international community’s efforts to support people in need,” he said.

KSHARC’s generosity, he added, had “a real impact in Yemen and elsewhere.”

“In my meeting with KSHARC’s Supervisor General Abdullah Al-Rabeeah, we discussed how our two entities can better work together in a more complementary and efficient way,” he said, adding that “it’s critical that we together, collectively, do our utmost best to help families and communities in urgent need by respecting core humanitarian principles and values.”

He added: “I am encouraged by the willingness of the authorities in the Kingdom to work closely with the UN and our humanitarian partners to improve and facilitate the humanitarian action in the MENA region and beyond.”

He pointed out that his last visit to Yemen was an opportunity to see the deteriorating situation on the ground, and stressed the need to find a political solution to the crisis as soon as possible.

Yemeni citizens are suffering from an extreme shortage of food and lack of health care, he said, adding that out of 28 million inhabitants, only 7 million Yemenis have access to food and nearly half of the population is in desperate need of humanitarian and health services.

The UN aims to reach out to around 3 million citizens in Yemen a month to provide them with their basic needs, said O'Brien.

His visit to the Kingdom, he said, was at the same time an opportunity to discuss the desperate humanitarian situation in Yemen.

“Today, I met with key officials and officers from the Ministry of Defense, including members of the Humanitarian Operation Cell and the Ministry of Foreign Affairs. We all agreed that the utmost must be done to save and protect lives in Yemen, in accordance with the international humanitarian law,” he said.

He added: “We discussed the facilitation of humanitarian access and that we must rely on facts for impartial and neutral action.”

O'Brien also met with Gulf Cooperation Council Secretary General Abdullatif Al-Zayani, with whom he discussed the situation in Yemen and how “we can mutually support our efforts to alleviate the suffering of the Yemeni people.”

He met in Riyadh with Yemeni President Abed Rabbo Mansour Hadi to discuss the deteriorating humanitarian crisis in his country and the need to ensure the protection of civilians as hostilities continue and intensify.

“As in all humanitarian crises around the world, there is absolutely no time to waste. While the humanitarians will continue to provide aid to all those in need, there is an urgent need for a durable political solution to the crisis, beginning with a cessation of hostilities,” he said.

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Agencies
March 15,2020

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

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News Network
April 16,2020

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.

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News Network
April 18,2020

Dubai, Apr 18: Saudi Arabia has reported 1,132 new coronavirus cases, taking the total number of confirmed COVID-19 patients to 8,274, the Ministry of Health revealed on Saturday.

The ministry has also announced five more deaths from the virus, taking to 92 the Kingdom’s death toll.

Recoveries
As for recoveries, 280 new recoveries were reported, pushing the total number of patients recovered to 1,329.

The ministry revealed that 79 per cent of today’s cases are expatriates and that 65 per cent of the cases were detected through intensified and active COVID-19 screening in densely-populated areas.

A total of 201 patients of Saturday’s cases have contracted the disease due to being in contact with existing cases, the ministry added.

The new infected cases have been placed under complete isolation and they are receiving necessary medical care, an official from the ministry said.

He affirmed that medical teams are intensifying efforts and screening tests in workers' neighbourhoods and accommodations in order to limit the spread of the disease.

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