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Oil producers meet in Qatar to discuss cap, Iran absent

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(Last Updated On: October 25, 2022)

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DOHA, Qatar (AP) — Oil-producing countries met Sunday in Qatar to discuss a possible freeze of production to counter low global prices, but Iran’s last-minute decision to stay home could dilute the impact of any agreement.

The attendees, including Saudi Oil Minister Ali al-Naimi, silently swept past gathered journalists at a luxury hotel in Doha ahead of the meeting.

At least 15 oil-producing nations representing about 73 percent of world output are expected at the Doha meeting, Qatar’s energy and industry minister, Mohammed bin Saleh al-Sada, has said.

The gathering follows a surprise Doha meeting in February between Qatar, Russia, Saudi Arabia and Venezuela, in which they pledged to cap their crude output at January levels if other producers do the same.

They hope the cap will help global oil prices rebound from their dramatic fall since the summer of 2014, when prices were above $100 a barrel, though no one is talking seriously about the more dramatic step of cutting production.

Prices dropped briefly under $30 a barrel, a 12-year low, in January, but have climbed to around $40 a barrel this week, boosted in part by market speculation about the coming meeting.

However, Iran decided to stay home late Saturday after saying the day before it would send an emissary to the meeting.

“We reached the conclusion that the Doha meeting is for those who want to sign the oil freeze plans, and if we wanted to have a representative at the meeting, it was to show our support of this project,” Oil Minister Bijan Namdar Zangeneh said, according to a report by the ministry’s SHANA news agency.

“But since Iran is not going to sign this, there is no need for the presence of Iran’s representative at the meeting.”

With many international sanctions lifted under its nuclear deal with world powers, Iran began exporting oil into the European market again and is eager to claw back a market share. It produces 3.2 million barrels of oil a day now, with hopes of increasing to 4 million by April 2017. On Friday, the Iranian Oil Ministry reiterated it would not join a freeze “before it brings its oil exports to the pre-sanctions levels.”

Sunni-ruled Saudi Arabia has said it won’t back any freeze if Iran, its Shiite rival, doesn’t agree to it, throwing into question whether any deal will be agreed to at all. The kingdom seems determined to ride out the low prices that could squeeze Tehran.

That dispute underscores the level of discord inside OPEC as it faces arguably its biggest challenge since the oil glut of the 1980s.

Written by: Associated Press

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Floods kill 50 people in Afghanistan’s Ghor province

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(Last Updated On: May 18, 2024)

As many as 50 people died and 10 others went missing following floods in Afghanistan’s western Ghor province on Friday, local officials said.

A total of 2,000 houses were destroyed and 4,000 homes were partially damaged in the floods, the provincial police said in a statement. 2,500 shops have been completely destroyed.

Based on the statement, thousands of livestock perished and over 50 vehicles were damaged.

Moreover, hundreds of hectares of agricultural land and bridges have been destroyed.

Floods have also caused closure of Ghor-Kabul and Ghor-Herat highways, and roads connecting Ghor districts.

Seven people killed following floods in Faryab

Meanwhile, local officials in Faryab say that seven people have died due to floods in the northern Afghan province.

Ismatullah Moradi, the spokesman of Faryab governor, says that the floods in this province have caused huge material losses.

Meanwhile, Sar-e-pol governor’s office in a statement said that floods in the province had destroyed hundreds of acres of agricultural land, 60 houses, bridges, water dams, and shops.

The statement added that the losses are likely to increase.

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Spain confirms three tourists killed in Afghanistan attack

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(Last Updated On: May 18, 2024)

Three Spanish tourists were killed and at least one Spaniard was injured in an attack by gunmen in Afghanistan’s central Bamiyan province, Spain’s foreign ministry said on Friday.

Earlier on Friday, Interior Ministry’s spokesman Abdul Mateen Qani had said that three foreign tourists and one Afghan citizen had been killed in the attack.

Four foreign nationals and three Afghans were also injured in the attack when gunmen opened fire, he added. Four people have been arrested, he said.

The Spanish foreign ministry said that the consular emergency unit had been fully mobilised and the victims and their families were being assisted, Reuters reported.

Spanish Prime Minister Pedro Sanchez wrote on social messaging platform X that he was “shocked by the news of the murder of Spanish tourists in Afghanistan”. 

 

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Gunmen kill three foreigners in Bamyan

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(Last Updated On: May 17, 2024)

Three foreign nationals and one Afghan were killed when gunmen opened fire in Afghanistan’s central Bamyan province on Friday, the Interior Ministry said.

Abdulmatin Qane, the spokesman of the Ministry of Interior, said that three Afghans and four foreigners were injured in the shooting.

He added that four people were arrested in connection with the incident.

Qani did not specify which country the foreigners belonged to.

There was no immediate claim of responsibility for the attack.

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