Year: 2023

Minister Of Industry & Mineral Resources Holds Meetings With His Counterparts Participating In The International Mining Conference

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The Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef held on Wednesday evening a number of bilateral meetings with the ministers concerned with mining affairs in their countries. The meetings were held on the sidelines of the activities of the International Mining Conference, which kicked off earlier Wednesday at King Abdulaziz International Conference Center in Riyadh, under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud. The Minister of Industry and Mineral Resources met respectively with the Secretary of State for business, Energy and Industrial Strategy of the United…

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Energy Minister For Expediting Electrification Of Rural Areas

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Sindh Energy Minister Imtiaz Ahmed Sheikh, on Wednesday, directed to expedite electrification work in rural areas of Sukkur region and resolving right-of-way issues on priority. The minister was chairing a meeting of Sukkur Electric Power Company (SEPCO) here that was attended by Chairman SEPCO board Agha Laal Bakhsh, Chief Executive Officer SEPCO and other relevant officers. Expressing dissatisfaction over the pace of electrification work in Sukkur region, Imtiaz Sheikh directed that the electrification work should be expedited in the villages of Sukkur region by removing obstacles as Sindh government in the projects of development and prosperity of rural areas attached importance to provision of electricity to villages and wanted to carry out such…

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Russia’s oil output, exports hold up in early 2023

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Russia’s oil production rose 0.1% in the period from January 1 to 9, to stand at about 10.9 million barrels per day (bpd), compared to December 2022, the daily Vedomosti reported on Wednesday, citing two sources familiar with energy ministry data. Vedomosti said Russian oil exports had risen by 1.2% in early January to 634,400 bpd, while refining volumes increased by 1.4% to 808,400 bpd. Russian oil production has shown resilience in the face of Western sanctions and price caps, introduced last month, after the Kremlin sent troops into Ukraine…

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OIC issued statement condemning illegal exploitation of natural resources in the territory of Azerbaijan

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The General Secretariat of the Organization of Islamic Cooperation (OIC) condemns the illegal exploitation of natural resources by Armenia in the Karabakh region of Azerbaijan, on the Shusha-Khankendi road (Lachinroad), contrary to the Trilateral Statement of Azerbaijan, Armenia and the Russian Federation of 10 November 2020, reports citing the official website of the OIC. Exploitation of mineral deposits without due regard of environment-related standards is not only illegal under international law and national legislation of the Republic of Azerbaijan but is also a source of serious and legitimate concern. The…

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Oil Prices Steady As Chinese Demand Counters Huge Crude Build

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WTI oil held steady at $76 per barrel, after the U.S. Energy Information Administration reported an inventory build of 19 million barrels for the first week of the new year. At 439.6 million barrels, inventories of crude have turned about 1 percent above the average for this time of the year. The report follows a moderate build of 1.7 million barrels for the last week of 2022, as reported by the EIA, and another, even smaller build of 700,000 barrels for the week before that. A day before the EIA’s report came out, the…

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