Iraq Says Oil And Gas Output Isn't Affected by Exxon Evacuation - Bloomberg:
The evacuation of some Exxon Mobil Corp. workers from southern Iraq hasn’t affected output there or at other oil and gas fields, according the country’s energy minister.
Iraq’s Oil Minister Thamir Ghadhban said in an interview that Exxon pulled about 80 people from the country, and oil and gas output continues unabated. “No single personnel from other foreign companies withdrew,” he said.
Exxon’s decision to pull staff is “precautionary and temporary,” said Abdul Jabbar Abbas Mohammed, who heads the operations committee of West Qurna-1 field which is operated in partnership with the U.S. company. The field is producing between 450,000 to 480,000 barrels a day and is operated by the Iraqi engineers, he said.
Saturday, 18 May 2019
#Dubai Free Zone to Refund $354 Million in Fees to Spur Economy - Bloomberg
Dubai Free Zone to Refund $354 Million in Fees to Spur Economy - Bloomberg:
Dubai’s main port and biggest free zone authority plans to return 1.3 billion dirhams ($354 million) in cash and bank guarantees to its clients in an effort to stimulate the broader economy.
Jebel Ali Free Zone will start refunding companies operating in its jurisdiction in September. Jafza, as the economic zone is known, said in a statement the move will help companies invest in their operations and strengthen their businesses.
Last year, the United Arab Emirates reduced fees required to hire foreign workers, cutting the annual cost to just 60 dirhams per employee from 3,000 dirhams. The stimulus was intended to blunt the effects of lower oil prices and weakened regional economies which have hurt growth in the U.A.E., where expatriates make up about 80% of the population.
Dubai’s main port and biggest free zone authority plans to return 1.3 billion dirhams ($354 million) in cash and bank guarantees to its clients in an effort to stimulate the broader economy.
Jebel Ali Free Zone will start refunding companies operating in its jurisdiction in September. Jafza, as the economic zone is known, said in a statement the move will help companies invest in their operations and strengthen their businesses.
Last year, the United Arab Emirates reduced fees required to hire foreign workers, cutting the annual cost to just 60 dirhams per employee from 3,000 dirhams. The stimulus was intended to blunt the effects of lower oil prices and weakened regional economies which have hurt growth in the U.A.E., where expatriates make up about 80% of the population.
Permanent Special Privilege Iqama in #Saudi to cost $213,333; $26,666 for one-year ID | ZAWYA MENA Edition
Permanent Special Privilege Iqama in Saudi to cost $213,333; $26,666 for one-year ID | ZAWYA MENA Edition:
The fee for permanent Special Privilege Iqama will be SR800,000 ($213,333) for one time while the one-year temporary iqama will cost SR100,000 ($26,666), according to well-informed sources.
The Council of Ministers approved on Tuesday the Special Privilege Iqama Law that provides qualified foreigners a number of residency benefits.
Okaz/Saudi Gazette has learned that the Special Privilege Iqama will provide an opportunity to all those who have ties with the Kingdom, irrespective of their nationality, to obtain a permanent or temporary residency that would provide them with many privileges as well as the chance to avail of several services for themselves and their families.
The fee for permanent Special Privilege Iqama will be SR800,000 ($213,333) for one time while the one-year temporary iqama will cost SR100,000 ($26,666), according to well-informed sources.
The Council of Ministers approved on Tuesday the Special Privilege Iqama Law that provides qualified foreigners a number of residency benefits.
Okaz/Saudi Gazette has learned that the Special Privilege Iqama will provide an opportunity to all those who have ties with the Kingdom, irrespective of their nationality, to obtain a permanent or temporary residency that would provide them with many privileges as well as the chance to avail of several services for themselves and their families.
#Iran dismisses possibility of conflict, says does not want war - Reuters
Iran dismisses possibility of conflict, says does not want war - Reuters:
Iran’s top diplomat on Saturday dismissed the possibility of war erupting in the region, saying Tehran did not want a conflict and that no country had the “illusion it can confront Iran”, the state news agency IRNA reported.
Tensions between Washington and Tehran have increased in recent days, raising concerns about a potential U.S.-Iran conflict. Earlier this week the United States pulled some diplomatic staff from its Baghdad embassy following attacks on oil tankers in the Gulf.
“There will be no war because neither do we want a war, nor has anyone the idea or illusion it can confront Iran in the region,” Foreign Minister Mohammad Javad Zarif told IRNA before ending a visit to Beijing.
Iran’s top diplomat on Saturday dismissed the possibility of war erupting in the region, saying Tehran did not want a conflict and that no country had the “illusion it can confront Iran”, the state news agency IRNA reported.
Tensions between Washington and Tehran have increased in recent days, raising concerns about a potential U.S.-Iran conflict. Earlier this week the United States pulled some diplomatic staff from its Baghdad embassy following attacks on oil tankers in the Gulf.
“There will be no war because neither do we want a war, nor has anyone the idea or illusion it can confront Iran in the region,” Foreign Minister Mohammad Javad Zarif told IRNA before ending a visit to Beijing.
Libya's NOC chief says instability could lead to 95% oil production loss - Reuters
Libya's NOC chief says instability could lead to 95% oil production loss - Reuters:
Libya’s National Oil Corporation (NOC) chief said on Saturday continued instability in Libya could make it lose 95% of its oil production.
“Unfortunately if the situation will continue like this I’m afraid that maybe 95% of production will be lost,” Mustafa Sanalla told reporters in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non-OPEC producers.
Sanalla said an attack had happened near Zella oilfield earlier on Saturday.
Libya’s National Oil Corporation (NOC) chief said on Saturday continued instability in Libya could make it lose 95% of its oil production.
“Unfortunately if the situation will continue like this I’m afraid that maybe 95% of production will be lost,” Mustafa Sanalla told reporters in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non-OPEC producers.
Sanalla said an attack had happened near Zella oilfield earlier on Saturday.
Exclusive: #Saudi's Falih says sees no oil shortage, but OPEC to act if needed - Reuters
Exclusive: Saudi's Falih says sees no oil shortage, but OPEC to act if needed - Reuters:
Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market’s needs.
Speaking in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non-OPEC producers, including Saudi Arabia and Russia, Falih told Reuters OPEC will not decide on output until late June when the group is due to meet next.
“I am not sure there is a supply shortage, but we will look at the (market) analysis. We will definitely be responsive and the market will be supplied,” Falih said, when asked whether an increase in output was on the table due to oil shortage concerns.
Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market’s needs.
Speaking in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non-OPEC producers, including Saudi Arabia and Russia, Falih told Reuters OPEC will not decide on output until late June when the group is due to meet next.
“I am not sure there is a supply shortage, but we will look at the (market) analysis. We will definitely be responsive and the market will be supplied,” Falih said, when asked whether an increase in output was on the table due to oil shortage concerns.
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