Connect with us

World

US, Saudi Arabia pledge moves to stabilise global energy markets

Published

on

US, Saudi Arabia pledge moves to stabilise global energy markets

A joint assertion by the 2 nations was launched after US President Joe Biden held talks with high Saudi officers, together with Crown Prince Mohammed bin Salman.

The USA and Saudi Arabia have expressed their dedication to making sure the steadiness of world vitality markets.

In a joint assertion carried by Saudi state information company (SPA) after US President Joe Biden held talks with senior Saudi officers on Friday, the US welcomed Riyadh’s dedication to assist balanced international oil markets to attain sustainable financial progress.

The 2 nations agreed on consulting often on international vitality markets within the quick and long run and work collectively as strategic companions in local weather and vitality transition, based on the assertion.

Specialists have stated vitality pursuits have pushed Biden to journey to the dominion, his first go to to the Center East since turning into the US president.

Advertisement

The US is keen to see Saudi Arabia and its Group of the Petroleum Exporting Nations (OPEC) companions pump extra oil to assist deliver down the excessive value of gasoline and ease the very best US inflation fee in 40 years.

The US nationwide safety adviser on Friday had downplayed expectations forward of the assembly, saying he didn’t anticipate Saudi Arabia to instantly increase oil output and would slightly take a look at the end result of an OPEC+ assembly on August 3.

“I don’t assume you must anticipate a specific announcement right here bilaterally as a result of we imagine any additional motion taken to make sure that there may be adequate vitality to guard the well being of the worldwide economic system, it is going to be accomplished within the context of OPEC+,” Jake Sullivan stated.

Biden famous throughout his temporary Friday afternoon information convention that oil costs have been dropping since earlier than his journey to the Center East, saying the potential results of his go to to Saudi Arabia on the vitality market wouldn’t be felt “for one more couple of weeks”.

Spare capability inside OPEC is working low, with most producers pumping at most capability. It’s unclear how a lot additional provide Saudi Arabia may deliver to the market and the way shortly.

Advertisement

OPEC+ determined final month to extend output targets by 648,000 barrels per day (bpd) in August, ending document manufacturing cuts that it introduced on the peak of the pandemic to counter collapsing demand.

Power offers

Biden’s go to resulted within the signing of 18 partnership agreements in fields together with vitality, communications, area and healthcare, Saudi state TV al-Ekhbariya reported.

Amongst them had been agreements in clear vitality tasks, nuclear vitality and uranium, based on SPA, in addition to offers with US aerospace and defence corporations Boeing and Raytheon and healthcare firms Medtronic, Digital Diagnostics, and IQVIA.

Gulf OPEC members are investing in renewable and clear vitality whereas additionally stressing the continued significance of hydrocarbons for international vitality safety at a time of rising requires a shift away from fossil fuels.

Advertisement

Washington and Riyadh additionally agreed on the significance of stopping their mutual foe Iran from buying a nuclear weapon additional deterring its interference in “the inner affairs of different nations”.

The assertion stated Biden affirmed america’ continued dedication to supporting “Saudi Arabia’s safety and territorial protection, and facilitating the Kingdom’s means to acquire obligatory capabilities to defend its folks and territory in opposition to exterior threats”.

In 2015, Iran signed a cope with six main powers to restrict its nuclear programme to make it more durable to acquire a weapon in change for reduction from financial sanctions. Iran says its nuclear programme seeks solely civilian atomic vitality.

In 2018, then-US President Donald Trump pulled america out of the pact, saying it was inadequate to maintain Iran from growing nuclear weapons.

Iran has since ramped up some nuclear actions, placing a ticking clock on an try and return to a deal in talks between Western powers and Tehran in Vienna.

Advertisement

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

World

Italian state railways plans 1.3 bln euro investment in solar plant

Published

on

Italian state railways plans 1.3 bln euro investment in solar plant
Italian state railways Ferrovie dello Stato plans to invest 1.3 billion euros ($1.36 billion) in a photovoltaic plant with an initial 1 gigawatt (GW) capacity that would cover 19% of its energy needs by 2029, the CEO said in a newspaper interview.
Continue Reading

World

Christmas in Puerto Rico is a 45-day celebration with caroling, festive decorations, family feasts and more

Published

on

Christmas in Puerto Rico is a 45-day celebration with caroling, festive decorations, family feasts and more

Christmas, Navidad in Puerto Rico, extends far beyond Dec. 25. 

The island proudly proclaims itself as having the “longest holiday season in the world,” according to the website Discover Puerto Rico. 

On average, the holiday festivities in Puerto Rico last about 45 days, per the source, commencing right after Thanksgiving, and stretching all the way through mid-January. 

The Christmas season in Puerto Rico typically lasts around 45 days. (iStock)

HOW TO SAY ‘MERRY CHRISTMAS’ IN 10 LANGUAGES TO FRIENDS AROUND THE WORLD

Advertisement

The holiday season in Puerto Rico is full of rich traditions beloved by families. 

One tradition those who visit Puerto Rico will immediately notice during the holiday season is decorations. 

In Puerto Rico, decorations are typically put up by Thanksgiving, and kept up until the season concludes in mid-January, with opportune picture moments at every corner. 

Parrandas, Christmas caroling, is a holiday staple. 

17 SECRET TRAVEL TIPS FOR FALL AND WINTER THAT AREN’T SO SECRET AFTER ALL

Advertisement

Carolers choose houses of family and friends to visit, typically starting around 10 p.m., performing aguinaldos (traditional Christmas songs), with not only their voices, but often with instruments as well, according to Discover Puerto Rico. 

The group you begin caroling with is likely not the same group you end with. 

In Puerto Rico, when carolers visit a house, they’ll often stop inside for conversation, food and drink before moving to the next residence. 

Coquito

Coquito is a popular beverage enjoyed during the holiday season in Puerto Rico. Coconut, vanilla and rum are among the ingredients. (Mayra Beltran/Houston Chronicle via Getty Images)

Usually, the residences of the house visited will join the group for the next house, according to Discover Puerto Rico. 

CHRISTMAS TREES IN GERMANY WERE DECORATED WITH APPLES INSTEAD OF ORNAMENTS IN THE 1600S FOR ‘ADAM AND EVE DAY’

Advertisement

A night of serenading loved ones can last quite a while, often stretching into the early morning hours of the following day, according to the source. 

The biggest day of the holiday season in Puerto Rico actually isn’t Christmas, but instead, the night before. 

In Puerto Rico, Dec. 24 is Nochebuena. On that day, loved ones gather for the exchange of gifts, caroling and a large feast. 

Many families will also attend a midnight Mass on the day, known as Misa de Gallo. 

FLIGHT ATTENDANTS REVEAL THE SURPRISING DAY TO TRAVEL AHEAD OF THE CHRISTMAS RUSH

Advertisement

After Christmas passes, the festivities go on in Puerto Rico. 

Another big event in the holiday lineup is Three Kings Day on Jan. 6, a holiday that “commemorates the visit that the Three Wise Men paid to Jesus after his birth,” according to Discover Puerto Rico. 

On the eve of the day, children fill up a shoebox with grass to be left for camels to munch on while the Three Kings leave behind gifts for them, according to PuertoRico.com. 

For a particularly festive Three Kings Day, Juana Díaz is the place to go, as it hosts the largest celebration in Puerto Rico for the holiday. In Juana Díaz, there is an annual festival and parade in honor of Three Kings Day that brings together over 25,000 people every year, according to Discover Puerto Rico. 

Woman Wrapping Christmas Gifts

Gifts are primarily exchanged between loved ones on Christmas Eve in Puerto Rico. (iStock)

 

Advertisement

Then, eight days later is Octavitas, a post-holiday celebration where families get together and celebrate one last time for the season. 

The end of the holiday season is marked with the San Sebastián Street Festival.

This festival, spanning over multiple days, takes place in Old San Juan, and is filled with live music, dancing, shopping and parades. 

Continue Reading

World

Small plane crashes into Brazil town popular with tourists, killing 10

Published

on

Small plane crashes into Brazil town popular with tourists, killing 10

Twin-engine plane crashed in largely residential neighborhood of Gramado shortly after takeoff, authorities say.

A small plane has crashed into a tourist hotspot in southern Brazil, killing all 10 people on board and injuring more than a dozen people on the ground, officials have said.

The twin-engine Piper PA-42-1000 hit the chimney of a home and the second floor of a different house before crashing into a shop in a largely residential neighbourhood of Gramado shortly after takeoff from Canela, Brazil’s Civil Defense agency said on Sunday.

Rio Grande do Sul Governor Eduardo Leite told a news conference that the aircraft’s owner and pilot, Luiz Claudio Galeazzi, was killed along with nine members of his family.

Leite said that 17 people on the ground were injured, 12 of whom were still receiving treatment in hospital.

Advertisement

Galeazzi’s company, Galeazzi & Associados, confirmed that its CEO and Galeazzi’s wife and three daughters had died in the crash.

“Luiz Galeazzi will be forever remembered for his dedication to his family and for his remarkable career as a leader of Galeazzi & Associados,” the company said in a post on LinkedIn.

“In this moment of immense pain, Galeazzi & Associados is deeply grateful for the expressions of solidarity and affection received from friends, colleagues and the community. We also sympathize with all those affected by the accident in the region.”

Gramado, located in the Serra Gaucha mountains, is a popular destination for vacationers, especially during the Christmas season.

The crash comes a little more than a year after Brazil suffered its worst air disaster in nearly two decades when a twin-engine plane crashed in the southeastern city of Vinhedo, killing all 62 people on board.

Advertisement
Continue Reading

Trending