Saudi Arabia
| Use attributes for filter ! | |
| Currency | Saudi riyal |
|---|---|
| Capital | Riyadh |
| Dialing code | +966 |
| Population | 32. 94 million (2017) |
| Did you know | Saudi Arabia is the fifth-largest Middle Eastern country by population (31,521,000). |
| Date of Reg. | |
| Date of Upd. | |
| ID | 1380637 |
About Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula.
Oil firms commit to major fossil fuel cut by 2050 at COP28
... Saudi Arabia s Aramco is one of 50 oil and gas companies pledging to stop adding to planet-warming gases by 2050...
COP28: Huge rise in oil drilling expected from hosts UAE
... Between 2023 and 2050, only Saudi Arabia is expected to produce more...
COP28: Can a climate summit in an oil state change anything?
... But which countries - if any - will put money in the fund? The European Union has indicated it is going to open its wallet, but what about the US and other big economies? China, Saudi Arabia and the Gulf States are still defined as developing countries for COP purposes, by the way, and therefore aren t obliged to pay into funds like this - a big bone of contention...
Saudi investment fund to buy 10% stake in Heathrow airport
...By Mariko OiBusiness reporterSaudi Arabia s Public Investment Fund (PIF) has agreed to buy a 10% stake in Heathrow airport from Spanish infrastructure giant Ferrovial...
COP28: UAE planned to use climate talks to make oil deals
... The briefings show the UAE also prepared talking points on commercial opportunities for its state renewable energy company, Masdar, ahead of meetings with 20 countries, including the UK, United States, France, Germany, the Netherlands, Brazil, China, Saudi Arabia, Egypt and Kenya...
Allow more aid into Gaza, Lord Cameron urges Benjamin Netanyahu in Israel
... Counterparts from Saudi Arabia, Jordan, Egypt, Turkey, Indonesia and Nigeria were there, as well as the secretary general of the League of Arab States and the ambassador of Qatar...
Japan condemns Yemen's Houthi rebels hijack of cargo ship in Red Sea
... The Houthis have been locked in with Yemen s official government - backed by Saudi Arabia - since 2014...
Yemen's Houthi rebels hijack cargo ship in Red Sea
... The Houthis have been locked in with Yemen s official government - backed by Saudi Arabia - since 2014...
US Opec supply cut back, in order to boost oil price
to cut
A "global deal"-oil production by More Than 10% appears to be on the track, after the United States promised to deliver you reduce.
in Mexico, which are initially baulked at the scale of the cuts, said President Donald Trump had suggested that they could give US, we cut in the order of the neighbors on Friday, 10. April.
oil prices plunge due to coronavirus lock feature. to deliver
But the prospect of unprecedented cuts, couldn't you increase The Price of oil on Thursday.
G20 oil Minister to the talks on Friday, completed The Draft agreement, which would see cuts of 10 million barrels per day.
"This is a time for all Nations to consider seriously what they can do to correct the supply /demand imbalance," said US Secretary of energy Dan Brouillette .
America would "take the surpluses from The Market " due to the storage of "as much oil as possible," he added.
President of Mexico, Andres Manuel Lopez Obrador said the United States would be output of 250,000 barrels per day in additional reductions in the oil to help reduce Mexico's contribution to the global reduction.
Mr Lopez Obrador, the rising oil output-one of the priorities of his government, said U.S. President Donald Trump had spoken with him, to help the on Thursday and offered before Mexico announced that it would issue 100,000 barrels per day.
"President Trump said the United States is committed to the reduction of 250,000 (Barrel), on top of what it wanted to do, for Mexico, in order to compensate for," He Said .
Opec+ Russia, includes had said it would help cut production in may and June from 10 million barrels per day to support prices. The incisions are then loosened gradually until April 2022.
But a final agreement was dependent on Mexico, to make the drawing after it is put in question, The Level of production, he cuts it was asked to,
oil prices have slumped recently as the Corona Virus pandemic has grounded surfaces, stopped the trip and brake industry around The World . Time to press equal to a price war between Saudi Arabia and Russia, to below The Price for crude oil.
On Thursday, the Opec producers organization and its allies reached a preliminary agreement to cut production by about 10% compared to what was produced before The Crisis . A further 5 million barrels is expected to be of other oil-exporting countries to be cut.
Opec said the cuts would be relaxed, to eight million barrels per day between July and December. It would later be re-softened to six million barrels of oil from January 2021.
However, Brent crude oil closed at 4%, to $31. 48 a barrel on Thursday, the agreement began to take shape. Despite the scale of the cuts agreed to, they are unlikely to compensate for the sharp decline in the demand for oil.
A telephone conference takes place on Friday between the energy Ministers of the G20, the hopes for the conclusion of the agreement. It is hosted by Saudi Arabia .
Opec Secretary-General Mohammed Barkindo called on to fight for the action for the oil industry, the effects of the Corona-Virus-pandemic.
On Thursday, He Said : "It's a grizzly shadow is hanging over all of us. We don't want to drive the shadow of the us. It is a crushing and long-term impact on the industry as a whole. "
The global Corona-Virus-pandemic hits, the demand for oil in March, restrictions on business and consumer activity have been introduced in dozens of countries in quick succession.
Crude had already fallen, to just over $31 (£24. 90; €28. 30) a run to the beginning of the month, of the agreed to previously with The Other members of Opec. By The End of March
Some analysts have asked whether all agreed-upon cuts would succeed, the increase in The Price of oil, given the prospect of a sharp and potentially prolonged global economic downturn, The International monetary Fund and the World Trade organisation have warned.
If it is not suppressed, the lower prices could lead to the wholesale oil market, to cheaper costs for some materials, such as plastic. This would possibly be reflected in the prices of goods of daily needs. However, producer countries will face tough cuts in revenue.
This story was originally published on Thursday, may 9. April, but has been updated to correct a factual Error .
oil, coronavirus pandemic, oil & gas industry, opec
Source of news: bbc.com
