Tag Archives: saudiarabia

World’s biggest crude oil plant ablaze, production descends to half

It’s astonishing to hear the news that the world’s largest crude oil processing plant had to cut down the production to half when a day before the attack,  it was producing 10 million barrels a day supplying to so many countries.

The biggest attack after the first gulf war.  “Abqaiq is the heart of the system and they just had a heart attack,” said Roger Diwan, a veteran OPEC watcher at consultant IHS Markit. “We just don’t know the severity.” Still trying to figure out what actually happened

Smoke billows from fires following a drone strike at a Saudi Aramco oil plant in Abqaiq on Sept. 14, 2019.

UAE condemns the attack on two sites

The cause of the fire is unknown. There was no official confirmation of the Arabiya report, which gave no details but said Saudi authorities would later issue a statement. Aramco did not immediately respond to a request for comment.

Abqaiq, about 60 km (37 miles) southwest of Dhahran in Saudi Arabia’s Eastern Province, contains the world’s largest oil processing plant. Most Saudi oil exported from the Gulf is processed there.

Saudi Arabia’s oil production was cut by half after a swarm of explosive drones struck at the heart of the kingdom’s oil industry and set the world’s biggest crude-processing plant ablaze. Saudi Aramco has had to cut production by as much as 5 million barrels a day after the attack on the Abqaiq plant, according to a person familiar with the matter. The company expects to restart most of the oil operations “within days,” a person familiar said. Iran-backed Houthi rebels in Yemen, who have launched several drone attacks on Saudi targets, claimed responsibility.

World’s most oppressed countries.

Today, it is a democracy that finds itself battered and weakened. A quarter-century ago, at the end of the Cold War, it appeared that totalitarianism had at last been vanquished and liberal democracy had won the great ideological battle of the 20th century.

 


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The Freedom in the World 2018 index by the US government-funded non-governmental organization (NGO) Freedom House has found that in its own words:

Democracy is in crisis. The values it embodies—particularly the right to choose leaders in free and fair elections, freedom of the press, and the rule of law— are under assault and in retreat globally.

For the 12th consecutive year, countries that experienced democratic setback outnumbered those that registered gains. The report stated that 88 countries were classed as “free”, while 49 were classed as “not free”.

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The report also criticised some nations for becoming increasingly authoritarian:

The retreat of democracies is troubling enough. Yet at the same time, the world’s leading autocracies, China and Russia, have seized the opportunity not only to step up internal repression but also to export their malign influence to other countries, which are increasingly copying their behavior and adopting their disdain for democracy.

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   A confident Chinese president Xi Jinping recently proclaimed that China is ‘blazing a new trail’ for developing countries to follow. It is a path that includes politicized courts, intolerance for dissent, and predetermined elections

 

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The Gambia’s status improved from Not Free to Partly Free, its political rights rating improved from 6 to 4, and its civil liberties rating improved from 6 to 5 due to the installation of newly elected president Adama Barrow into office in January and the holding of competitive legislative elections in April. Among other openings associated with the departure of former president Yahya Jammeh, exiled journalists and activists returned, political prisoners, were released, ministers declared their assets to an ombudsman, and the press union began work on media-sector reform.

The Freedom in the World report evaluates the state of freedom in 195 countries and 14 territories, assigning a score between 0 and 4 in a series of 25 indicators to give a final score of 100.

The methodology is derived from the Universal Declaration of Human Rights, regardless of geopolitical, geographic, ethnic or religious considerations.

Most powerful economies by 2030, guess the country ranked 20th in the list

in the recent listing by one of the best private firms of world PricewaterhouseCoopers, just released its predictions for the most powerful economies in the world by 2030.

The report will surprise you by its ranking.

The report, titled “The long view: how will the global economic order change by 2050?” ranked 32 countries by their projected global gross domestic product by purchasing power parity.

PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period.

 

While PwC’s findings show some of the same countries right near the top of the list in 13 years, they also have numerous economies slipping or rising massively by 2030.

Check out which countries made the list. All numbers cited in the slides are in US dollars and at constant values (for reference, the US’s current PPP is $18.562 trillion):

32. Netherlands — $1.08 trillion                                    

31. Colombia — $1.111 trillion

30. South Africa — $1.148 trillion

29. Vietnam — $1.303 trillion

28. Bangladesh — $1.324 trillion

27. Argentina — $1.342 trillion

26. Poland — $1.505 trillion

 

 

25. Malaysia — $1.506 trillion

24. Philippines — $1.615 trillion

23. Australia — $1.663 trillion

22. Thailand — $1.732 trillion

21. Nigeria — $1.794 trillion

 

 

20. Pakistan — $1.868 trillion

19. Egypt — $2.049 trillion

18. Canada — $2.141 trillion

17. Spain — $2.159 trillion

16. Iran — $2.354 trillion

15. Italy — $2.541 trillion

 

14. South Korea — $2.651 trillion

13. Saudi Arabia — $2.755 trillion

12. Turkey — $2.996 trillion

11. France — $3.377 trillion

 

10. United Kingdom — $3.638 trillion

9. Mexico — $3.661 trillion

8. Brazil — $4.439 trillion

7. Germany — $4.707 trillion

6. Russia — $4.736 trillion

 

 

5. Indonesia — $5.424 trillion

4. Japan — $5.606 trillion

3. India — $19.511 trillion

2. United States — $23.475 trillion

1. China — $38.008 trillion