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The “OPEC Plus” consortium is heading for a slight increase in its oil production

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The "OPEC Plus" consortium is heading for a slight increase in its oil production

The “OPEC Plus” countries will begin the monthly meeting of the oil community on Thursday, which is facing less urgent pressure to increase crude production, which was offset by the fall in oil prices in the wake of a raging war in Ukraine. Closing operations in China.

Almost every month since the outbreak of the Kovit-19 epidemic, the 13 member states of the Riyadh – led Organization of Petroleum Exporting Countries meet with ten of the Moscow – led Organization’s partner countries on Thursday, via video link. To make possible changes in their production policies.

Since the start of the Russian invasion of Ukraine on February 24, there has been an increase in calls for markets to relax in the wake of tight supplies and talks about a possible embargo on Russian oil in the wake of rising oil prices.

So far, these demands have not been heeded, and this time around, the “OPEC Plus” federation will argue that the demand for black gold is declining and the situation will continue.

Many analysts say that OPEC Plus, which was established in 2016 to regulate the market, will be satisfied with a small increase in production of about 400,000 barrels per day.

Therefore, the federation will continue to pursue its strategy of gradually increasing its oil production, which began to be implemented in May 2021, in the wake of the economic recovery from the aftermath of the epidemic, which then required a sharp reduction in production. Demand decline.

Inflation and Govt

Since the last meeting on March 31, prices have been in the same range and range from $ 97 to $ 115 a barrel for European standard Brent North Sea crude and $ 92 to $ 110 for the US standard WTI.

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Recently, the German commercial bank “Commerzbank”, Carsten Fritsch, recorded a decline in crude oil prices, “in the wake of fears that the return of closure measures due to the outbreak of the corona virus in China will restrict oil demand in this country.”

China is facing the worst outbreak of the virus since the spring of 2020 and has taken drastic measures, especially in Shanghai, where authorities ordered 25 million people to stay home a month ago.

China is the second largest consumer of crude oil in the world, and the largest importer.

Among the factors affecting the market is fears of a global recession due to the ongoing war in Ukraine.

At the end of April, the International Monetary Fund lowered its forecast for global growth to 2022 due to the effects of the conflict in Ukraine, particularly rapid inflation that undermined consumer purchasing power.

In this turbulent situation, the “OPEC Plus” group has lowered expectations for global oil demand.

Reducing supply

Markets are still tense, and John Plassard, an expert at Mirabat Asset Management Corporation, said, “OPEC Plus group member states face difficulties in achieving their production targets.”

Libya, which has the largest oil reserves in Africa, is experiencing a serious and protracted political-constitutional crisis that has led to the closure of oil facilities.

In mid-April, the National Oil Corporation, a government agency, shut down operations at two important oil ports in the east of the country and closed several oil fields.

In an interview with Agency France-Presse, Mohamed Aoun, Minister of Oil and Gas of the National Unity Government based in Tripoli, said, “Production has fallen by about 600,000 barrels a day, which is about half that.”

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In another development that could affect markets, the EU is seeking a gradual ban on oil purchases from Moscow as part of a reduction in European funding for Russia in response to the ongoing war in Ukraine.

By 2021, the European Union will import 30 percent of its crude oil demand and 15 percent of its oil derivation requirements from Russia.

The “expertise” group said the ban, “likely,” does not appear to be in line with the position of the “OPEC Plus” camp, which is “ready to accelerate the pace of its oil production, thus reducing supply and causing oil prices to remain high.”

(AFP)

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What happened to the newlyweds in the Hamdania wedding fire? | news

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What happened to the newlyweds in the Hamdania wedding fire?  |  news

A wedding hall in al-Hamdania district in northern Iraq’s Nineveh governorate turned tragic after a sudden fire left behind the harrowing stories of hundreds of victims and widespread global solidarity.

Many on social media are wondering what will happen to the newlyweds?

Many sources in Al-Hamdaniyya (Qaraqosh) say that the newlyweds survived the fire, and one of the wedding guests said in his report that the bride and groom, Haneen and Raven, are safe and sound, but their psychological condition is not good and devastated by the wedding tragedy.

Preliminary official figures indicate that 94 people died and 101 suffered burns and suffocation in the fire.

Interior Minister Abdul Amir Al-Shammari said the fire broke out at a large event hall in Al-Hamdania after fireworks were lit during a ceremony, causing the roof to burst onto the roof and collapse on the occupants.

Saath Mann, director of information and public relations at the Ministry of Home Affairs, confirmed that “nine people working at the hall have been arrested as a precautionary measure and arrest warrants have been issued against four owners of the hall”. As a result of this incident.

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Khalid al-Muhanna, the spokesman for the Iraqi Ministry of Interior, explained the reasons for the increase in the number of victims, and said that they were a lack of security measures, the use of fireworks and an excessive presence. A thousand people in the event hall. He pointed out that preliminary investigations have confirmed the lack of adequate corridors and emergency exits, apart from the construction materials failing to meet the correct specifications.

Today, Wednesday, the Security Council of Iraq’s Kurdistan Region announced that it would arrest the owner of the burning hall and hand him over to the Iraqi Ministry of Interior.

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A “surveillance device” and passport confiscation… the appearance of the Egyptian accused in the case of Senator Menendez

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A “surveillance device” and passport confiscation… the appearance of the Egyptian accused in the case of Senator Menendez

A lawyer for Egyptian businessman Wael Hanna (40) commented that he returned from Egypt to “prove his innocence”. The case, which has been highlighted by US media in the past days since the indictment was released, is a federal case against Hanna and two other businessmen.

Hannah, who is of Egyptian descent, was married Tuesday morning to John F. After being arrested at Kennedy International Airport, he voluntarily returned to the United States from Egypt. His lawyer said he had come to plead against the charges.

On Tuesday afternoon, Hanna pleaded not guilty before federal judge Ona Wang in the District of Manhattan, and the judge ordered her released on $5 million personal recognizance and strict conditions, including surrendering her passport and wearing a GPS tracking device. According to the New York Times.

The newspaper said Hanna sat next to her lawyer, Lawrence Lustberg, and other members of her legal team during the session, while the three plaintiffs sat at another table.

The lawyer said in a statement to the network “CBS News” Hanna “voluntarily returned from Egypt so that he would have the opportunity to prove his innocence, which we hope will happen after a thorough and fair trial.”

Menendez, Nadine and businessmen Jose Uribe and Fred Daibes are scheduled to appear in federal court Wednesday at approximately 10:30 a.m. EST to face charges.

Prosecutors say Hanna arranged meetings between Menendez and Egyptian officials in 2018 and pressured the senator to sign Washington’s freeze on military aid from Egypt over concerns about the country’s human rights record.

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In return, Hanna put Menendez’s wife, Nadine, on the payroll of the company she runs, which has the exclusive right to certify halal meat shipped from the United States to Egypt, prosecutors said.

Details of the grand scheme.. Who is the Egyptian Wale Hanna accused in Senator Menendez’s case?

An indictment issued by prosecutors in New York state points to the involvement of an Egyptian businessman living in New Jersey, near New York, in the fraud and bribery of prominent US Senator Bob Menendez and his wife, Nadine. Menendez.

Menendez “covertly abused his power for the benefit of Egypt,” the indictment said.

Menendez allegedly received hundreds of thousands of dollars in bribes for Menendez and his wife Nadine, including gold bars, money and a luxury convertible, for the benefit of Wale Hanna, Jose Uribe, Farid Taibs and the Egyptian government.

Hanna, who lives in Edgewater, New Jersey, has been charged along with two other businessmen with conspiracy to commit bribery, which carries a maximum sentence of five years in prison, and one count of conspiracy to commit “honest services fraud.” 20 years in prison, according to a statement released by the U.S. Attorney’s Office for the Southern District of New York.

Hanna spokeswoman Amelia Folk said in an email reported by the New York Daily News that the allegations were “totally without merit” and that the company “earned its right to halal certification without any assistance from Senator Menendez or any other US government.” official.” “There is no evidence that the contract was awarded based on bribery or corruption in Egypt.”

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In another response, reported by the New Jersey Globe website, he said, “Cars, apartments, money, jewelry… in exchange for any kind of preferential treatment, are completely unsubstantiated.”

He took refuge in America during the Lebanon War.. Who is Menendez’s wife?

Nadine Arslanian’s name is at the top of an indictment issued by prosecutors in the US state of New York, accusing her of “covertly abusing her power for the benefit of Egypt” along with her husband, prominent US Senator Bob Menendez.

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Emirates News Agency – Suhail Al Mazrouei heads the UAE delegation to the Global Sustainable Transport Summit in Beijing.

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Emirates News Agency – Suhail Al Mazrouei heads the UAE delegation to the Global Sustainable Transport Summit in Beijing.

– Suhail Al Mazrui:

Sustainable transport is critical to achieving inclusive growth, protecting the environment and improving the quality of life for current and future generations.

-The United Arab Emirates is one of the countries active in global initiatives for sustainable smart transportation for the future of humanity.

– “COP28” will contribute to improving transport sustainability and reducing carbon emissions.

BEIJING, 27th September/WAM/ His Excellency Suhail bin Mohammed Faraj Fariz Al Mazrouei, Minister of Energy and Infrastructure, led the delegation of countries participating in the Global Sustainable Transport Summit in Beijing titled “Transportation”. Cooperation to Support Global Development” on 25 and 26 September. A current one.

He Lifeng, Vice Premier of the State Council of China opened the event on behalf of President Xi Jinping of the People’s Republic of China. The importance of building a sustainable, safe, efficient and environmentally sound transport system is essential for achieving growth, sustainable economic and social.

He expressed the Republic of China’s willingness to work with all parties to promote cooperation in the field of infrastructure and sustainable transport, which will support China in playing a decisive role in implementing the global development initiative and achieving the United Nations Sustainable Development Goals 2030. Promoting the global development of sustainable transport and building a common future. Serving the world and humanity.

On this occasion, His Excellency Suhail bin Mohammed Al Mazrouei delivered a speech at the opening ministerial session, which was attended by ministers from more than 50 countries and representatives of international organizations, as well as heads and representatives of the transport and logistics sectors. Regional and international companies, as well as senior CEOs of major transportation companies around the world, emphasized the UAE’s interest in developing bilateral relations with the People’s Republic of China and making more efforts to push them forward to achieve their interests. To advance this vital sector to a bright future that meets the aspirations of the people of the two friendly countries in various fields, especially in the fields of sustainable transport, and governments.

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His Excellency said: “Sustainable transport is one of the most important keys to achieving comprehensive development, including protecting the environment and improving the quality of life of current and future generations. Therefore, it is essential that governments, the private sector and society work together. To overcome challenges and turn them into real opportunities, this global summit offers .

Al Mazrouei added: “We in the UAE are proud to be active in global efforts for sustainable smart transport for the future of humanity. Therefore, we have worked diligently with our strategic partners. The ambition of the nation and its leadership. The UAE has also developed a smart transport strategy.” “By 2031 the UAE should be one of the world’s leaders in the field of sustainable and smart multimodal mobility, contributing to the reduction of carbon. emissions resulting from the transport sector.”

He added: “We launched the Strategic Initiative for Climate Neutrality 2050, which aligns with the goals of the Paris Climate Agreement in various sectors, including the transport sector, which aims to reduce emissions and achieve climate neutrality by 2050.”

His Excellency the President touched on the country’s hosting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) due to its importance in improving transport sustainability and reducing carbon emissions.

On the sidelines of the forum’s activities, His Excellency Dr. Hussain Al Hammadi, in the presence of the Ambassador of the People’s Republic of China to the United Arab Emirates, met with the Minister of Transport of the People’s Republic of China, His Excellency Xiao Bing Li. During the meeting, ways to enhance cooperation between the two countries and aspects of the existing strategic cooperation between the UAE and the People’s Republic of China were discussed. Aspirations of the countries and the two brotherly peoples in the light of the special relations that unite the two countries at various levels.

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They also met in the presence of the Ambassador of the People’s Republic of China to the United Arab Emirates, His Excellency Dr. Hussain Al Hammadi, the First Deputy Prime Minister of the Kyrgyz Republic, His Excellency Bakhit Dorobaev, and the Minister of Construction, His Excellency Goran Vesik. Transport and Infrastructure of the Republic of Serbia.

He also held bilateral meetings with a group of government and semi-government organizations and the private sector in the Republic of China and discussed with them cooperation and exchange of experiences to strengthen Sino-Emirati relations.

The UAE delegation included representatives from the Ministry of Energy and Infrastructure, Abu Dhabi Ports and Etihad Rail.

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