Oil Updates — Crude eases; Equinor, Exxon to expand Brazil oil operations; EU fails to convince Hungary over Russian embargo | Arab News

2022-05-20 20:34:00 By : Admin

RIYADH: Oil prices eased on Tuesday as Hungary resisted an EU push for a ban on Russian oil imports, a move that would tighten global supply, and as investors took profits following a recent rally.

Brent crude futures fell 22 cents, or 0.2 percent, to $114.02 a barrel by 0327 GMT, while US West Texas Intermediate crude futures slid 35 cents, or 0.3 percent, to $113.85 a barrel. 

Both benchmarks had gained more than 2 percent on Monday, following a 4 percent jump on Friday.

Equinor, Exxon agree to expand Brazil oil operations

Equinor and Exxon Mobil Corp. have taken the first steps to expand an $8-billion oil development off Brazil’s coast, the Norwegian oil producer told Reuters.

The firms want to boost future production from the Bacalhau oil field, Equinor’s largest project outside of Norway with more than 1 billion barrels of oil, the company said.

A second drilling rig and a second floating production platform are being considered for the next phase along with a more than 100-mile-long gas pipeline, three people close to the discussions said.

For Exxon, Bacalhau could provide its first barrel of oil from offshore Brazil, one of its top growth prospects, and a new supply of oil from lower carbon operations. First oil is due in 2024 from the venture’s 220,000 barrels per day production vessel.

EU fails to persuade Hungary to sign up for Russian oil embargo

EU foreign ministers failed on Monday in their effort to pressure Hungary to lift its veto of a proposed oil embargo on Russia, with Lithuania saying the bloc was being “held hostage by one member state.”

The ban on crude imports proposed by the European Commission in early May would be its harshest sanction yet in response to Moscow’s Feb. 24 invasion of Ukraine and includes carve-outs for EU states most dependent on Russian oil.

Germany, the EU’s biggest economy and a major buyer of Russian energy, said it wanted a deal to authorize the oil embargo, which it suggested could last for years.

As expected, the ministers failed to reach a deal on Monday, EU foreign policy chief Josep Borrell said after the meeting, with ambassadors now charged to negotiate an agreement.

“Unhappily, it has not been possible to reach an agreement today,” Borrell told reporters, saying Hungary set out its argument based on economic, not political, concerns.

Some diplomats now point to a May 30-31 summit as the moment for agreement on a phased ban on Russian oil, probably over six months, with a longer transition period for Hungary, Slovakia and the Czech Republic.

“I am confident that we will find agreement in the coming days,” German Foreign Minister Annalena Baerbock said.

JEDDAH: A fun-filled agenda awaits children at the Jeddah Pier amusement park, one of the entertainment attractions at this year’s Jeddah Season festival of activities.

The specially created Little Village large play area offers games and events for youngsters through to June 28 in three activity zones featuring children’s characters Peppa Pig, Blippi, and L.O.L Surprise!

The Blippi-branded activity corner allows kids to learn and explore new concepts, and the iconic Blippi appeared for a soft opening of the Little Village during which visitors took part in a meet and greet, followed by a photo session.

The L.O.L Surprise! activity corner gives girls the opportunity to wear their favorite dresses, enjoy hair and makeup sessions, and try out cooking, singing, and dancing, and special fashion shows let little fashionistas take a ramp walk.

Meanwhile, the Peppa Pig activity corner has a range of activities including painting classes and the chance to play in the cartoon character’s grocery store.

Fadi Yousuf, site manager of Hwadi Events, Jeddah Pier’s organizing company, said: “Packed with wonderful and imaginative activities, we aim to create memories that will turn the Jeddah Season into a world of unforgettable stories for children.

• The specially created Little Village large play area offers games and events for youngsters through to June 28 in three activity zones featuring children’s characters Peppa Pig, Blippi, and L.O.L Surprise!

• Jeddah Pier, open daily from 5 p.m. to 2 a.m., offers 39 entertainment attractions, seven diverse international experiences, and a roller coaster, among a host of other events. And musical parades including acrobats, and people dressed as trees, zombies, and track-suited monkeys are an integral part of the zone’s events.

“With the help of Spacetoon, we were delighted to bring the much-loved character Blippi to Jeddah and receive an amazing response from the fans.

“Apart from enjoying the activities, kids will be able to purchase Blippi, L.O.L Surprise!, and Peppa Pig products onsite.”

Jeddah Pier, open daily from 5 p.m. to 2 a.m., offers 39 entertainment attractions, seven diverse international experiences, and a roller coaster, among a host of other events.

And musical parades including acrobats, and people dressed as trees, zombies, and track-suited monkeys are an integral part of the zone’s events.

Jeddah Season will also be hosting a toy festival running until May 23 at Jeddah Superdome, the world’s largest geodesic dome without pillars, and kids who missed meeting Blippi at Jeddah Pier will get another chance at the festival.

More than 40 international toy brands are attending the event that will include stands and exhibitions, live shows, and performances of the Smurfs, Sonic, Peppa Pig, and other character favorites.

The annual Jeddah Season festival aims to highlight the city’s rich heritage and culture through a total of 2,800 activities in nine zones over the event period.

Being held under the slogan, Our Lovely Days, the second Jeddah Season follows on from the success of Riyadh Season that recorded more than 15 million visits over five months.

The festival season offers 70 interactive experiences, more than 60 recreational activities, seven Arab and two international plays, marine events, a circus, four international exhibitions, and a host of other services for families.

RIYADH: At a time when one might view analog photography as an outdated craft, it is, in fact, becoming increasingly popular across the world, including in Saudi Arabia.

“Photos are the closest humanity has gotten to time travel,” said photographer Abdullah Al-Azzaz, whose has followed in the footsteps of his father, Saleh, who was also a photographer.

The newly established Bayt Al-Malaz — a creative space in the heart of Riyadh’s Malaz District — recently hosted an intriguing conversation about the significance and popularity of analog photography between Al-Azzaz and Princess Reem Al-Faisal, moderated by Sarah Assiri. The event was part of Bayt Al-Malaz’s “Moflmeen” discussion series.

While analog photography is becoming more and more popular amongst Saudi and regional photographers, there is still a shortage of labs and studios accessible to the public. In Riyadh, the number of studios where film can be developed has fallen from four to just a single space — Haitham Studios. This is largely due to the financial cost of establishing such a studio and the turnaround time for film development.

The two photographers addressed the issue of why — when digital cameras are so ubiquitous and easy to use — analog is making a comeback.

“My photography revolves around permanence, praise, eternality, and the spiritual side of us. The individual is a soul and not a body,” said Al-Faisal. “For us, film represents the soul. We are all born with natural instincts, and film, in its natural form, is untouched. It represents the soul that transforms after birth in dealing with life, accumulations, and memories — bad and good. It’s a way of expressing humanity.”

Al-Azzaz said that, for him, it was more about the technique than the philosophy of it all. “The experience of developing in a darkroom is so enriching. It separates you from the world, totally quiet and dark. It’s just you and the photo. It allows you to reflect on the photo more and gives you more freedom in reimagining it,” he said.

Photo manipulation, he explained, is not exclusive to digital photography. Before the existence of Photoshop, images could be manipulated in the darkroom using retouching techniques and tools, including cropping, brushing, dodging, burning and masking.

To really understand the true art of photography, some would argue, it is important to learn its history. Digital photography is not a replacement for film, but another medium entirely. “In any art, not just photography, we have to have a cultural, historical, and technical awareness… we are all an accumulation,” said Al-Faisal. “We are a product of our society and a product of our time. We cannot claim we aren’t affected [by these things]. Whoever claims otherwise is delusional.”

While analog photography is becoming more and more popular amongst Saudi and regional photographers, there is still a shortage of labs and studios accessible to the public. In Riyadh, the number of studios where film can be developed has fallen from four to just a single space — Haitham Studios. This is largely due to the financial cost of establishing such a studio and the turnaround time for film development.

The founder of the studio, Haitham Al-Sharif, explained the immersive nature of analog photography. “I chose film photography because I hated having no connection with my photos. With film photography, I take a max of 40 photos in a session. I can’t see them; I have to live in the moment, I have to listen and smell the streets, I have to talk to my subject if I’m taking their portraits, I have to listen to the music if I’m at a concert,” he told Arab News. “To me, that is art. That is the beauty of film.”

The lengthy process involved in analog photography can be intimidating and off-putting to amateur photographers. That’s why the development of the first digital camera in 1975 was so groundbreaking. Now, in an economy driven by content creation and visual media, content production is easier — and quicker — than ever before. But to some, the key difference lies in the creative experience itself. Some analog photographers suggest it is a way to truly connect with the moment, even if the results are not always what society deems ‘Insta-worthy.’

“When you can’t see the photo you aren’t forced to change it to make it the same as what the media thinks is good or what a magazine thinks is good. Film forces you to be patient and slow. It forces you to live in the (moment),” said Al-Sharif. “As a film photographer, you live in front of the lens as much as at the back of the lens. You become more connected to what you are photographing.”

TUNIS: Tunisia's President Kais Saied on Friday appointed a loyalist law professor to head a committee charged with writing a constitution for a "new republic", through a national dialogue that excludes political parties. On July 25 last year, Saied sacked the government and suspended parliament, sidelining the political parties that have dominated Tunisian politics since the 2011 revolution that sparked the Arab Spring uprisings. He has since vowed to scrap the country's 2014 constitution and draft a replacement to be put to referendum in July, but has repeatedly inveighed against political parties despite calls for an inclusive dialogue. On Friday the official gazette announced that law professor Sadeq Belaid would head the newly created "National Consultative Commission for a New Republic", charged with drawing up a draft constitution. Saied has also created three other committees to focus on socio-economic issues, the judiciary and on national dialogue. While major organisations including the powerful UGTT trade union confederation are supposed to be involved, no political party is set to take part. Saied announced in early May the establishment of a long-awaited "national dialogue" -- at the same time attacking the political parties he accuses of having plundered the country. Since his July power grab, many Tunisians have supported his moves against a political class seen as corrupt, but opponents have labelled his moves a coup and he has faced calls from home and abroad for a dialogue involving all of the country's major actors.

PARIS: Sandstorms have engulfed the Middle East in recent days, in a phenomenon experts warn could proliferate because of climate change, putting human health at grave risk. At least 4,000 people went to hospitals on Monday for respiratory issues in Iraq where eight sandstorms have blanketed the country since mid-April. That was on top of the more than 5,000 treated in Iraqi hospitals for similar respiratory ailments earlier this month. The phenomenon has also smothered Iran, Kuwait, Saudi Arabia and the UAE with more feared in the coming days. Strong winds lift large amounts of sand and dust into the atmosphere, that can then travel hundreds, even thousands, of kilometers. Sandstorms have affected a total of 150 countries and regions, adversely impacting on the environment, health and the economy, the World Meteorological Organization said.

• The UN agency WMO has warned of the ‘serious risks’ posed by airborne dust.

• The fine dust particles can cause health problems such as asthma and cardiovascular ailments.

• They also spread bacteria and viruses as well as pesticides and other toxins.

“It’s a phenomenon that is both local and global, with a stronger intensity in areas of origin,” said Carlos Perez Garcia-Pando, a sand and dust storm expert at the Barcelona Supercomputing Center and the Catalan Institution for Research and Advanced Studies. The storms originate in dry or semi-dry regions of North Africa, the Arabian Peninsula, Central Asia and China. Other less affected areas include Australia, the Americas and South Africa. The UN agency WMO has warned of the “serious risks” posed by airborne dust. The fine dust particles can cause health problems such as asthma and cardiovascular ailments, and also spread bacteria and viruses as well as pesticides and other toxins. “Dust particle size is a key determinant of potential hazard to human health,” the WMO said. Small particles that can be smaller than 10 micrometers can often become trapped in the nose, mouth and upper respiratory tract, and as a result it is associated with respiratory disorders such as asthma and pneumonia. The most at-risk are the oldest and youngest as well as those struggling with respiratory and cardiac problems. And the most affected are residents in countries regularly battered by sandstorms, unlike in Europe where dust coming from the Sahara is rare, like the incident in March. Depending on the weather and climate conditions, sand dust can remain in the atmosphere for several days and travel great distances, at times picking up bacteria, pollen, fungi and viruses. “However, the seriousness is less than with ultrafine particles, for example from road traffic, which can penetrate the brain or the blood system,” says Thomas Bourdrel, a radiologist, researcher at the University of Strasbourg and a member of Air Health Climate collective. Even if the sand particles are less toxic than particles produced by combustion, their “extreme density during storms causes a fairly significant increase in cardio-respiratory mortality, especially among the most vulnerable,” he said. With “a concentration of thousands of cubic micrometers in the air, it’s almost unbreathable,” said Garcia-Pando. The sandstorms’ frequency and intensity could worsen because of climate change, say some scientists. But the complex phenomenon is “full of uncertainties” and is affected by a cocktail of factors like heat, wind and agricultural practices, Garcia-Pando told AFP. “In some areas, climate change could reduce the winds that cause storms, but extreme events could persist, even rise,” he said. With global temperatures rising, it is very likely that more and more parts of the Earth will become drier. “This year, a significant temperature anomaly was observed in East Africa, in the Middle East, in East Asia, and this drought affects plants, a factor that can increase sandstorms,” the Spanish researcher said.

NEWCASTLE: Eddie Howe has concerns about three key first-team players ahead of Newcastle United’s final day trip to Burnley.

The Magpies head to Turf Moor knowing a win could have a huge say in the Premier League relegation battle — but not in the way many predicted when Howe took over.

United looked set to be right in the midst of the fight to remain in the top flight, but a remarkable run since January, which has seen the Magpies climb from 19th to 12th, has turned around their fortunes.

Their hosts, however, still need points to guarantee they will be a Premier League side come next season.

While Howe has said he will pick his strongest team and show the fixture the respect it deserves, he could well be without three key players, one of whom is former Clarets frontman Chris Wood, signed for $31 million in January.

“We’re going to try him in training and see how he looks,” the manager said. “At the time, we didn’t think it was a serious injury so fingers crossed he gets through training today.”

Another player who is touch-and-go for the encounter is Fabian Schar.

The Switzerland international, who signed a two-year extension to his United deal earlier this month, was forced off, having been knocked unconscious in the 2-0 home win over Arsenal on Monday.

And head injury protocols mean the player might have to sit out Sunday’s match.

“Fabian we haven’t seen,” Howe said. “We’re following concussion protocols. I believe he is going to do something outside but we’ll follow the protocols closely. I think there will be a late decision on Fabian.”

A player who was visibly upset as the squad circled the St. James’ Park pitch to say thank you to fans after the Gunners win was Ryan Fraser.

It left many wondering why — and now Howe has explained why.

“Ryan Fraser might be out of the game,” he said. “He came on but had slight awareness in his hamstring, I don’t think it’s a re-injure but there is awareness in his hamstring again.”

Meanwhile, Callum Wilson looks set to end the campaign leading the United line, a place he was so sorely missed for a large chunk of the season.

And Howe admits it has been a relief to have his top scorer and talisman back available.

“An immense performance when you consider how long he’s been out and the type of injury he had,” he said of Wilson on Monday night.

“To deliver that first game back, I can’t say enough positive words about that. When you see behind the scenes and you see how he’s conducted himself and how he’s worked, it doesn’t surprise me because I’ve seen it many times before but then you’ve got to back it up with the performance and I thought he gave a very good display that really helped the team. Full credit to him.”