Sangim Han
SEOUL // Saudi Aramco, the world's largest oil exporter, will spend about $125 billion (Dh459bn) on projects over the next five years as it seeks to increase refining capacity by 50 per cent, Chief Executive Officer Khalid al-Falih said.
The company wants to boost oil-processing capacity to 6 million barrels a day from the current 4m barrels, Mr al-Falih said in a speech in Seoul today. Aramco is building two plants in the kingdom and is considering a further four "grassroots" facilities, he said. That includes one refinery at Jaizan in Saudi Arabia and possible joint-venture projects in China, Vietnam and Indonesia, he said.
"Saudi Aramco isn't just about petroleum production," he said. "We are also one of the world's largest producers of natural gas, a major player in refining, and we are ramping up our petrochemical activities."
Aramco's domestic and international spending plans include oil exploration and production as well as natural gas, refining and petrochemical facilities, he said. Saudi Arabia plans capital expenditure of more than $450bn in the same period, according to Mr al-Falih.
All 12 members of the Organisation of Petroleum Exporting Countries including Saudi Arabia will need to provide a daily average of 29.8m barrels a day this year to satisfy global requirements, or about 600,000 a day more than they pumped in March, the International Energy Agency said April 12.
Aramco built the world's largest natural gas network about 30 years ago, and doubled its processing capacity.
The company plans to expand the network to exceed 14bn standard-cubic-feet per day of capacity in the next five years when the network will encompass seven world-scale gas plants.
For the expansion, the company continues to make natural gas discoveries in places including the Gulf, while beginning exploration in areas such as the Red Sea and the north-west region of the kingdom.
These activities are adding to the company's reserves of 275 trillion cubic feet, the world's fifth-largest proven holdings of gas, in addition to the world's biggest reserves of conventional crude oil, he estimated.
The company is also expanding its petrochemical capabilities in the kingdom, through a petrochemical project in Jubail with Dow Chemical and a planned expansion of Rabigh Refining & Petrochemicals, its joint venture with Sumitomo Chemical.
Mr Al-Falih said South Korea is now among Saudi Arabia's four largest trading partners.
The country accounts for about a fifth of Saudi Arabia's total petroleum exports, and Aramco supplies 30 per cent of South Korea's crude imports.
Aramco is holding its board meeting for the first time in South Korea this week, Mr al-Falih said.
"The Far East is the destination for two out of every three barrels of crude oil" that Aramco exports, he said.
Aramco owns 35 per cent of S-Oil, South Korea's third- largest refiner that's expanding its processing capacity in Ulsan to more than 650,000 barrels a day.
Export Import Bank of Korea and Korea Trade Insurance each signed a memorandum of understanding with Aramco on possible future project financing, according to the website of the oil and gas producer.
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Zayed Sustainability Prize
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
Star Wars: Episode I – The Phantom Menace
Developer: Big Ape Productions
Publisher: LucasArts
Consoles: PC, PlayStation
Rating: 2/5
List of alleged parties
May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff
May 20, 2020: They attend 'bring your own booze party'
Nov 27, 2020: PM gives speech at leaving party for his staff
Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson
Dec 13, 2020: PM and his wife throw a party
Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters
Dec 15, 2020: PM takes part in a staff quiz
Dec 18, 2020: Downing Street Christmas party
Which products are to be taxed?
To be taxed:
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
Products excluded from the ‘sweetened drink’ category would contain at least 75 per cent milk in a ready-to-drink form or as a milk substitute, baby formula, follow-up formula or baby food, beverages consumed for medicinal use and special dietary needs determined as per GCC Standardisation Organisation rules
Afghanistan Premier League - at a glance
Venue: Sharjah Cricket Stadium
Fixtures:
Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final
Table:
1. Balkh Legends 6 5 1 10
2. Paktia Panthers 6 4 2 8
3. Kabul Zwanan 6 3 3 6
4. Nagarhar Leopards 7 2 5 4
5. Kandahar Knights 5 1 4 2
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Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
Final scores
18 under: Tyrrell Hatton (ENG)
- 14: Jason Scrivener (AUS)
-13: Rory McIlroy (NIR)
-12: Rafa Cabrera Bello (ESP)
-11: David Lipsky (USA), Marc Warren (SCO)
-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)
The Facility’s Versatility
Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket
Francesco Totti's bio
Born September 27, 1976
Position Attacking midifelder
Clubs played for (1) - Roma
Total seasons 24
First season 1992/93
Last season 2016/17
Appearances 786
Goals 307
Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2
The Boy and the Heron
Director: Hayao Miyazaki
Starring: Soma Santoki, Masaki Suda, Ko Shibasaki
Rating: 5/5
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AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.