North Korea fires missiles, three reach Japan waters

March 6, 2017

Seoul, Mar 6: Nuclear-armed North Korea fired four ballistic missiles east of the peninsula today, with Japan saying three of them landed in its waters.

koreas

Pyongyang fired a ballistic missile last month -- its first such launch since October -- which Seoul said was aimed at testing the response from the new US administration of President Donald Trump.

Seoul said several missiles were filed into the East Sea, also known as the Sea of Japan, and that South Korea and the US were "closely analysing" tracking data for further details.

"In terms of the range, it is around 1,000 kilometres," the South's defence ministry said in a statement.

Seoul said its armed forces were "closely monitoring the North's military for further provocations and maintaining military readiness".

Japanese Prime Minister Shinzo Abe said North Korea fired four missiles "almost simultaneously", three of which landed in Japan's Exclusive Economic Zone.

In response to the launch, South Korea's acting president Hwang Kyo-Ahn convened an emergency National Security Council (NSC) meeting, the presidential office said in a statement.

Seoul and Washington launched annual joint military exercises last week that infuriate Pyongyang, which condemns them as provocative rehearsals for invasion.

A day after the Foal Eagle drills kicked off, the North's military warned of "merciless nuclear counter-action" against enemy forces.

"Now that the US imperialists and the South Korean puppet forces again kicked off the dangerous nuclear war drills against the DPRK at its doorstep, our army will counter them with the toughest counteractions," a spokesman said in a statement carried by the KCNA news agency.

North Korea has regularly carried out actions in protest against the exercises, last year firing seven ballistic missiles during them.

That rocket -- said by the North to use solid fuel and to be capable of carrying a nuclear warhead -- flew east for about 500 kilometres before falling into the Sea of Japan, South Korea said at the time.

North Korea is under heavy international sanctions for its nuclear and missile programmes.

Last month, China -- the North's chief ally and diplomatic protector -- announced a suspension of all coal imports from the North until the end of the year, depriving Pyongyang of a crucial source of foreign currency.

China's foreign ministry said Beijing and Pyongyang were still "friendly neighbours" but added it remained opposed to the North's nuclear ambitions.

North Korea is barred under UN resolutions from any use of ballistic missile technology. But six sets of UN sanctions since Pyongyang's first nuclear test in 2006 have failed to halt its drive for what it insists are defensive weapons.

Last year the country conducted two nuclear tests and numerous missile launches in its quest to develop a nuclear weapons system capable of hitting the continental US.

Pyongyang has also been blamed by Seoul for the killing of Kim's half-brother Kim Jong-Nam by two women using VX nerve agent at Kuala Lumpur's international airport last month.

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Agencies
August 5,2020

Paris, Aug 5: French President Emmanuel Macron on Tuesday said France will deploy a civil security detachment and several tonnes of medical equipment to Lebanon, whose capital was hit by an explosion that left over 70 people dead and thousands injured.

"Emergency doctors will also reach Beirut as soon as possible to strengthen hospitals. France is already engaged," the French President said in a tweet.

US Secretary of State Mike Pompeo, also extended his deepest condolences to all those affected by the "massive explosion at the port of Beirut."

"We are closely monitoring and stand ready to assist the people of Lebanon as they recover from this tragedy. Our team in Beirut has reported to me the extensive damage to a city and a people that I hold dear, an additional challenge in a time of already deep crisis. 

We understand that the Government of Lebanon continues to investigate its cause and look forward to the outcome of those efforts," he said in a statement.

UK Prime Minister Boris Johnson said his country is ready to provide support in any way it can.

"The pictures and videos from Beirut tonight are shocking. All of my thoughts and prayers are with those caught up in this terrible incident. The UK is ready to provide support in any way we can, including to those British nationals affected," Johnson said.

Israeli people share the pain of their Lebanese neighbours after a devastating blast in the port of Beirut and reach out to offer their aid, Israeli President Reuven Rivlin said on Tuesday.

"We share the pain of the Lebanese people and sincerely reach out to offer our aid at this difficult time," Rivlin said on Twitter.

Over 70 people have been killed while thousands of others were wounded in the massive explosion on Tuesday in Beirut which shattered buildings and caused widespread damage.

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Agencies
June 7,2020

Moscow, Jun 7: OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.

The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June, compensate with extra cuts in July to September.

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis. Those cuts were due to taper to 7.7 million bpd from July to December.

“Demand is returning as big oil-consuming economies emerge from pandemic lockdown. But we are not out of the woods yet and challenges ahead remain,” Saudi Energy Minister Prince Abdulaziz bin Salman told the video conference of OPEC+ ministers.

Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April. Prices still remain a third lower than at the end of 2019.

“Prices can be expected to be strong from Monday, keeping their $40 plus levels,” said Bjornar Tonhaugen from Rystad Energy.

Saudi Arabia, OPEC’s de facto leader, and Russia have to perform a balancing act of pushing up oil prices to meet their budget needs while not driving them much above $50 a barrel to avoid encouraging a resurgence of rival U.S. shale production.

It was not immediately clear whether Saudi Arabia, the United Arab Emirates and Kuwait would extend beyond June their additional, voluntary cuts of 1.18 million bpd, which are not part of the deal.

BULGING INVENTORIES

The April deal was agreed under pressure from U.S. President Donald Trump, who wants to avoid U.S. oil industry bankruptcies.

Trump, who previously threatened to pull U.S. troops out of Saudi Arabia if Riyadh did not act, spoke to the Russian and Saudi leaders before Saturday’s talks, saying he was happy with the price recovery.

While oil prices have partially recovered, they are still well below the costs of most U.S. shale producers. Shutdowns, layoffs and cost cutting continue across the United States.

“I applaud OPEC-plus for reaching an important agreement today which comes at a pivotal time as oil demand continues to recover and economies reopen around the world,” U.S. Energy Secretary Dan Brouillette wrote on Twitter after the extension.

As global lockdowns ease, oil demand is expected to exceed supply sometime in July but OPEC has yet to clear 1 billion barrels of excess oil inventories accumulated since March.

Rystad’s Tonhaugen said Saturday’s decisions would help OPEC reduce inventories at a rate of 3 million to 4 million bpd in July-August. “The quicker stocks fall, the higher prices will get,” he said.

Nigeria’s petroleum ministry said Abuja backed the idea of compensating for its excessive output in May and June.

Iraq, with one of the worst compliance rates in May, agreed to extra cuts although it was not clear how Baghdad would reach agreement with oil majors on curbing Iraqi output.

Iraq produced 520,000 bpd above its quota in May, while overproduction by Nigeria was 120,000 bpd, Angola’s was 130,000 bpd, Kazakhstan’s was 180,000 bpd and Russia’s was 100,000 bpd, OPEC+ data showed.

OPEC+’s joint ministerial monitoring committee, known as the JMMC, will meet monthly until December to review the market, compliance and recommend levels of cuts. JMMC’s next meeting is scheduled for June 18.

OPEC and OPEC+ will hold their next scheduled meetings on Nov. 30-Dec. 1.

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News Network
April 11,2020

Apr 11: The number of global coronavirus deaths has increased to 102,753, while the total number of cases worldwide has surpassed 1.6 million, according to the latest update by the Washington-based Johns Hopkins University.

As of Saturday morning, the overall number of infections increased to 1,698,416, while the tally of those who recovered from the deadly disease stood at 376,677, according to the varsity's Center for Systems Science and Engineering (CSSE).

In terms of cases, the US had the highest in the world at 501,301, followed by Spain 158,273, Italy 147,577 and France 125,931.

Italy accounted for the highest death toll at 18,849, with the US in the second place with 18,769 fatalities.

Other countries with more than 10,000 deaths include Spain (16,081) and France (13,197).

Although the pandemic originated in China last December, it now only accounts for 3,343 deaths with 83,003 confirmed cases.

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