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Saudis in VLCC chartering spree as oil war escalates
The kingdom’s national shipping arm Bahri provisionally booked at least 10 VLCCs, paying freight costs that were as much as 10 times more than average earnings on Monday, according to fixtures posted by Tankers International.
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Saudi Arabia to provide $10m to WHO to combat COVID-19
Saudi Arabia has announced that it will provide $10m (SAR37.5m) to the World Health Organisation (WHO) as financial support to minimise the spread of COVID-19 and to support countries with vulnerable health infrastructures.
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US Strikes in Somalia Nearly on Par with Strikes in Iraq, Syria
The pace of U.S. military strikes against al-Qaida affiliate al-Shabab in Somalia this year is nearly on par with the number of strikes against Islamic State in Iraq and Syria. The U.S. has carried out 25 strikes against al-Shabab to date in 2020, including one Monday in the vicinity of Janaale, Somalia, that U.S. Africa Command (AFRICOM) said killed four terrorists.
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Iran’s Hospitals Are Struggling to Cope With Coronavirus Surge
The coronavirus seems to have shot up northern Iran’s highway artery from Qom, a major religious center, to the capital of Tehran, which is now the country’s most affected city, with 1,945 confirmed cases on March 9. Despite it being the source of the earliest cases in Iran, Qom was never placed under quarantine—a stark contrast to containment measures taken in China and in Italy, the worst-hit European nation.
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Iran and Russian Media Push ‘Bioweapon’ Conspiracies Amid COVID-19 Outbreak
Chinese authorities maintain that COVID-19 likely originated at a market in Wuhan where people were selling bat meat. But Iranian Russian, and Chinese propaganda media outlets would like you to believe, without evidence, that the emerging public health crisis comes from U.S. biological weapons.
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Saudi envoy to U.S. talks business, government, religion on Utah trip
Princess Reema bint Bandar Al Saud wants to build “strategic alliances” with the state in areas such as renewable energy, technology and education as Saudi Arabia looks to become less dependent on a single resource. “I think the narrative of Utah is inspiring to us. We see a great synergy,” she said.
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A Virus and an Oil War: Egypt’s Economy Faces a Double Whammy
Remittances, estimated by the World Bank to be worth $26.4 billion last year, make up roughly 10% of Egypt’s GDP. This vital source of hard currency comes mostly from Egyptians working in countries dependent on oil exports. A collapse in prices could lead to layoffs, placing downward pressure on remittances reaching Egypt’s banks.
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U.S. Risks Ceding Top-Producer Status to Saudis on Output Cuts
Most shale wells are now unprofitable and drillers are scrambling to scale back operations. At $35 a barrel, U.S. output -- now about 13 million barrels a day -- could fall by 1 million barrels this year, according to BloombergNEF, and by 2.5 million in 2021, said Scott Sheffield, who heads one of the biggest independent shale producers.
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Saudi Arabia asked state agencies to prepare for sharp budget cuts: sources
Saudi Arabia has asked state agencies to submit proposals for cuts of at least 20% to their budgets in a fresh austerity drive to cope with a sharp drop in oil prices, four sources familiar with the matter said. They said the request was made more than a week ago due to concerns about the impact of the coronavirus epidemic on crude markets and ahead of the collapse of an oil output deal between OPEC and its allies on Friday.
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Syrian Defector To Testify Before Senate Panel About Regime’s Atrocities
An ex-Syrian military photographer code named Ceasar is to testify Wednesday before a U.S. Senate panel. He'll present evidence he smuggled out of Syria that he says documents Assad regime atrocities.
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