Saudi Arabia: 2 oil tankers damaged by sabotage attacks

Agencies
May 13, 2019

Dubai, May 13: Saudi Arabia said Monday two of its oil tankers were sabotaged off the coast of the United Arab Emirates in attacks that caused "significant damage" to the vessels, one of them as it was en route to pick up Saudi oil to take to the US.

Khalid al-Falih's comments came as the US issued a new warning to sailors and the UAE's regional allies condemned the reported sabotage Sunday of four ships off the coast of the port city of Fujairah. The announcement came just hours after Iranian and Lebanese media outlets aired false reports of explosions at the city's port.

Emirati officials have declined to elaborate on the nature of the sabotage or say who might have been responsible. However, the reports come as the US has warned ships that "Iran or its proxies" could be targeting maritime traffic in the region, and as America is deploying an aircraft carrier and B-52 bombers to the Persian Gulf to counter alleged threats from Tehran.

Tensions have risen in the year since President Donald Trump withdrew the United States from the 2015 nuclear deal between Iran and world powers, restoring American sanctions that have pushed Iran's economy into crisis. Last week, Iran warned it would begin enriching uranium at higher levels in 60 days if world powers failed to negotiate new terms for the deal.

In his statement, al-Falih said the attacks on the two tankers happened at 6 a.m. Sunday.

"One of the two vessels was on its way to be loaded with Saudi crude oil from the port of Ras Tanura, to be delivered to Saudi Aramco's customers in the United States," al-Falih said.

"Fortunately, the attack didn't lead to any casualties or oil spill; however, it caused significant damage to the structures of the two vessels." Saudi Arabia did not identify the vessels involved, nor did it say whom it suspected of carrying out the alleged sabotage.

Underling the regional risk, the general-secretary of the six-nation Gulf Cooperation Council described the alleged sabotage as a "serious escalation" in an overnight statement.

"Such irresponsible acts will increase tension and conflicts in the region and expose its peoples to great danger," Abdullatif bin Rashid al-Zayani said. Bahrain, Egypt and Yemen's internationally recognized government similarly condemned the alleged sabotage.

A statement Sunday from the UAE's Foreign Ministry put the ships near the country's territorial waters in the Gulf of Oman, east of the port of Fujairah. It said it was investigating "in cooperation with local and international bodies." It said there were "no injuries or fatalities on board the vessels" and "no spillage of harmful chemicals or fuel." 

The US Navy's 5th Fleet, which oversees the region, did not immediately offer comment. Emirati officials declined to answer questions from The Associated Press, saying their investigation is ongoing.

Earlier Sunday, Lebanon's pro-Iran satellite channel Al-Mayadeen, quoting "Gulf sources," falsely reported that a series of explosions had struck Fujairah's port. State and semi-official media in Iran picked up the report from Al-Mayadeen, which later published the names of vessels it claimed were involved.

The AP, after speaking to Emirati officials and local witnesses, found the report about explosions at the port to be unsubstantiated.

Fujairah's port is about 140 kilometers (85 miles) south of the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a third of all oil at sea is traded. 

The facility handles oil for bunkering and shipping, as well as general and bulk cargo. It is seen as strategically located, serving shipping routes in the Persian Gulf, the Indian subcontinent and Africa.

Sunday's incident comes after the US Maritime Administration, a division of the US Transportation Department, warned Thursday that Iran could target commercial sea traffic.

"Since early May, there is an increased possibility that Iran and/or its regional proxies could take action against US and partner interests, including oil production infrastructure, after recently threatening to close the Strait of Hormuz," the warning read.

"Iran or its proxies could respond by targeting commercial vessels, including oil tankers, or US military vessels in the Red Sea, Bab-el-Mandeb Strait or the Persian Gulf." Early Sunday, the agency issued a new warning to sailors about the alleged sabotage, while stressing "the incident has not been confirmed." It urged shippers to exercise caution in the area for the next week.

Publicly available satellite images of the area taken Sunday showed no smoke or fire.

It remains unclear if the previous warning from the US Maritime Administration is the same perceived threat that prompted the White House to order the USS Abraham Lincoln aircraft carrier strike group and B-52 bombers to the region on May 4.

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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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Agencies
May 22,2020

Riyadh, May 22: The family of murdered Saudi journalist Jamal Khashoggi on Friday said that they forgave his killers. Washington Post journalist Jamal Khashoggi, who had written columns critical of Saudi Arabia, was brutally killed in October 2018, allegedly at the behest of Crown Prince Mohammad bin Salman.

“In this blessed night of the blessed month [of Ramadan] we remember God’s saying: If a person forgives and makes reconciliation, his reward is due from Allah,” Jamal Khashoggi’s son Salah Khashoggi said in a tweet. “Therefore, we the sons of the Martyr Jamal Khashoggi announce that we pardon those who killed our father, seeking reward [from] God almighty.”

The legal outcome of this announcement is not yet clear. Earlier, Salah Khashoggi said he had “full confidence” in the judicial system, and that the accused were trying to exploit the case.

Jamal Khashoggi’s body was said to have been dismembered inside the Saudi consulate in Istanbul and disposed of elsewhere, but his remains were never found.

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News Network
May 22,2020

Rajan Kurian with wife Berly Rajan Kurian, son Brian, daughter Bella and mother Valsa

Dubai, May 22: A 43-year-old Indian businessman won USD one million (approximately Rs 7.59 crore) in the Dubai Duty Free draw.

Rajan Kurian, who owns a construction business in Kerala, had bought the ticket online.

Mr Kurian said he was grateful for the win, considering the gloomy circumstances prevailing in the world due to the coronavirus pandemic.

"I will set aside a good part of my win to help the needy. I feel grateful with the win but I need to share it with people who need it," he said. 

Mr Kurian said some of the money will go into growing his business.

"The last few months have been tough with the COVID-19 situation. My business has come to a standstill. This money will be put to good use," he said.

An Indian expat also won a BMW motorbike in the lucky draw held on Wednesday.

A longtime resident of Dubai for 30 years now, 57-year-old Syed Hydrose Abdulla, who works as a public relations officer in a beverages company, had also bought the ticket online.

Comments

Debasisdhara
 - 
Saturday, 18 Jul 2020

Lucky prize money send me please

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