Venezuelan oil minister Manuel Quevedo, left who holds current Opec presidency denounced what he termed "US siege" of his country's oil industry. REUTERS
Venezuelan oil minister Manuel Quevedo, left who holds current Opec presidency denounced what he termed "US siege" of his country's oil industry. REUTERS
Venezuelan oil minister Manuel Quevedo, left who holds current Opec presidency denounced what he termed "US siege" of his country's oil industry. REUTERS
Venezuelan oil minister Manuel Quevedo, left who holds current Opec presidency denounced what he termed "US siege" of his country's oil industry. REUTERS

Opec+ to target crude inventory levels while ensuring market is well-supplied


Jennifer Gnana
  • English
  • Arabic

Saudi Arabia and Russia, which lead an alliance to correct oil market supply said Opec+ would prioritise lowering crude inventory levels, while ensuring customers are well supplied, ahead of a technical committee meeting in Jeddah.

Early indications are that Opec+ as the alliance is known is likely to rollover current output curbs of 1.2 million barrels per day in place since January into the second half of the year.

"My recommendation to my Opec+ colleagues will be to drive oil inventories down gently but to remain on the trajectory of bringing them down to normal levels while marking sure that no refinery and no customer is left without their crude requirement,” Saudi energy minister Khalid Al Falih said ahead of the joint ministerial monitoring committee session in the Saudi Red Sea city.

The alliance had responded with cuts at Opec’s annual meeting in Vienna last year to correct oversupply in the market, which saw prices plummet by 30 per cent by year-end after rising to a three-year high of $86.2 per barrel in October.

However, key producers Saudi Arabia and the UAE have come under pressure from the US to boost supply following the Trump administration’s cancellation of waivers to Opec member Iran towards the end of April.

The move to drive Iranian barrels to zero was widely feared to create shortage in the market, with the loss of nearly a million bpd from the markets.

Mr Al Falih said the market situation remained "quite foggy” with “multiple signals” facing the markets.

He also asked for conformity within the alliance to be more “evenly distributed” and said it was not acceptable for some countries, the kingdom more specifically to shoulder the burden of the cuts. Saudi Arabia, whose production averaged 9.7 million bpd for April according to Opec estimates has been cutting back 500,000 bpd more than its allocation to balance the markets.

Mr Al Falih noted that it was “critical” that hasty decisions were not made by the convening technical committee given “the complexity of data and evolving situation.

He also denounced recent attacks against two Saudi Aramco tankers off the coast of Fujairah as well as on a 5 million bpd capacity East-West pipeline in the kingdom as “deplorable” but said supplies weren’t affected.

Saudi Arabia announced earlier today an emergency summit of Gulf and Arab leaders scheduled for May 30 to discuss the recent attacks.

Russian energy minister Alexander Novak said Opec+ should not be restricted to discussions of just production volumes and noted that it was important to solidify their current co-operation.

Russia, the largest sovereign producer as well as Saudi Arabia, the de-facto leader of Opec have looked to evolve into a supergroup to counter rising US production and dominance in the oil markets.

Mr Novak added that the markets could expect the alliance to maintain "solidarity and a pragmatic approach”.

Venezuelan oil minister Manuel Quevedo, who holds Opec presidency denounced what he called "US siege of its oil industry” which he blamed for the loss of production of around 600,000 bpd since the end of last year.

A “measured approach” was needed by the alliance despite an expected drop-off in demand in 2019 compared with last year, and noted that the group should observe “complex geopolitical observances”.

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Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

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Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

Profile of Tamatem

Date started: March 2013

Founder: Hussam Hammo

Based: Amman, Jordan

Employees: 55

Funding: $6m

Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media

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  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
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Yemen's Bahais and the charges they often face

The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.

The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran. 

Today, some 2,000 Baha'is reside in Yemen, according to Insaf. 

"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said. 

Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer. 

The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy. 

 

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Important questions to consider

1. Where on the plane does my pet travel?

There are different types of travel available for pets:

  • Manifest cargo
  • Excess luggage in the hold
  • Excess luggage in the cabin

Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.

 

2. What is the difference between my pet traveling as manifest cargo or as excess luggage?

If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.

If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.

 

3. What happens when my pet arrives in the country they are traveling to?

As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.

If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty. 

If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport. 

 

4. How long does the travel paperwork and other travel preparations take?

This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.

In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.

 

5. What vaccinations does my pet need to travel?

Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.

Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.

Source: Pawsome Pets UAE

Match info

Bournemouth 0
Liverpool 4
(Salah 25', 48', 76', Cook 68' OG)

Man of the match: Andrew Robertson (Liverpool)

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

Match info:

Manchester City 2
Sterling (8'), Walker (52')

Newcastle United 1
Yedlin (30')

Schedule:

Sept 15: Bangladesh v Sri Lanka (Dubai)

Sept 16: Pakistan v Qualifier (Dubai)

Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)

Sept 18: India v Qualifier (Dubai)

Sept 19: India v Pakistan (Dubai)

Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four

Sept 21: Group A Winner v Group B Runner-up (Dubai) 

Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)

Sept 23: Group A Winner v Group A Runner-up (Dubai)

Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)

Sept 25: Group A Winner v Group B Winner (Dubai)

Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)

Sept 28: Final (Dubai)

COMPANY%20PROFILE
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Company%20profile
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