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Saudis Have Had No Talks With Russia About Joint Output Cuts
“There have been no contacts between Saudi Arabia and Russia energy ministers over any increase in the number of OPEC+ countries, nor any discussion of a joint agreement to balance oil markets,” the Saudi Ministry of Energy said in a statement.
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Arab Coalition Destroys 3 Houthi Drones Flown towards Saudi Arabia
The Saudi-led Arab coalition intercepted and destroyed on Friday three drones launched the by Iran-backed Houthi militias towards Saudi Arabia, reported the Saudi Press Agency. Coalition spokesman Colonel Turki al-Malki said the aircraft were flown towards civilian targets in the cities of Abha and Khamis Mushait.
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Virus Onslaught Deepens Gulf Disquiet Over Saudi Oil-Price War
Saudi Arabia’s oil-price war with fellow exporting giant Russia bewildered the kingdom’s Gulf allies, unexpectedly shattering their fiscal defenses just when they’re most needed to combat the coronavirus. The United Arab Emirates and Kuwait, along with smaller neighbors, want a return to talks among the OPEC+ cabal of oil powers but the central protagonists, including Crown Prince Mohammed bin Salman, are digging in. As the pandemic shuts down major chunks of the global economy, that posture is helping to drive oil even lower, to below $10 in the physical market, sharply curtailing fire-power in Gulf economies still struggling to recover from the last oil price plunge in 2014.
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China bars most foreigners to curb imported virus cases
The foreign ministry announced late Thursday that even foreign citizens with residence permits will be prevented from entering starting on Saturday. All visa-free transit policies will also be temporarily suspended.
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Oil slump scalps Nigeria, Angola, Mexico ratings; Saudi and Russia spared
The plunge in oil prices took a number of high-profile sovereign rating scalps on Thursday, including Nigeria, Mexico, Angola, Ecuador and Oman, although the architects of the slump, Saudi Arabia and Russia, were both spared. The moves by S&P Global consisted mainly of one-notch downgrades, but it was the sheer number of cuts that caught the eye.
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Saudi Aramco boosts European crude inventories in bid to gain market share
Saudi oil giant Saudi Aramco is moving a substantial amount of its crude to storage caverns in Rotterdam in the Netherlands and Sidi Kerir in Egypt, in line with pledges by the world's largest exporter to supply more barrels to the market in April, shipping and trading sources said Thursday.
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Don’t Miss The Perfect Candidate, A Compelling Film By Saudi Arabia’s First Female Director To Be Released Digitally 27 March 2020
After a recent preview screening of The Perfect Candidate in London, Haifaa Al Mansour said that she feels “that the best way to show a Western audience what Saudi society is like is to bring an intimate detail of the culture. It’s almost like a making a documentary. You go to a house that’s already there, you change things a little bit here and there and you tell the actors to be natural, who they are.”
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GOP senators urge Saudi Arabia to leave OPEC
“The Kingdom should partner with the United States on strategic energy infrastructure projects across the Indo-Pacific region and in the Americas,” they added. “Riyadh should leave the antique OPEC cartel immediately and join the United States on the global stage as a free market energy powerhouse.”
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Extraordinary G20 Leaders’ Summit Statement on COVID-19
We ask the WHO, in cooperation with relevant organizations, to assess gaps in pandemic preparedness and report to a joint meeting of Finance and Health Ministers in the coming months, with a view to establish a global initiative on pandemic preparedness and response.
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Guide to Business Continuity in Case of Emergency
The Saudi Ministry of Investment has released a 12-page Guide to Business Continuity in Case of Emergency: Coronavirus Covid-19.
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