News – 2012.06.01

Published: June 1, 2012

SUSRIS Daily News – Excerpts from International Media Reports</strong>
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

 

Changing patterns in U.S. crude imports

U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi …

Gulf Refinery Expansion May Not Cut Gas Prices

The refinery business has been going through a tough period in recent years. Americans are buying less gasoline and other petroleum products — about 10 percent less than in 2005, according to the U.S. Energy Information Administration. Refiners’ profits have been squeezed between this …

U.S. Oil Boom Prompts Motiva to Change Port Arthur Strategy

Motiva Enterprises LLC had to adjust its strategy for the $10 billion expansion of the Port Arthur, Texas, refinery because of a boom in U.S. oil production, Bob Pease, the company’s chief executive officer, said. Pease, Saudi Arabian Oil Co. CEO Khalid Al-Falih and Royal Dutch Shell Plc …

Saudi Arabian oil production topping 10 million B/D

Saudi Arabia is currently producing crude at a rate exceeding 10 million barrels of oil a day, the chief executive of state owned oil giant Saudi Aramco said Thursday….

Oil’s 17% drop in May is worst since Dec. 2008

Crude-oil futures fell 1.5% Thursday and ended the month of May down 17%, their worst drop since December 2008 for a most-active contract, on a combination of weak global data and worries about Europe’s debt crisis hitting global demand….

Islamic funds seek socially responsible roadmap

The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first. The links between Islamic finance and socially …

Kingdom gaining more clout in Islamic finance

For the moment, Dubai holds the title of Islamic banking hub – but it could soon lose ground, both to traditional competitors like Bahrain, Kuala Lumpur or London or newcomers on the scene like Singapore. But the country that really laid the foundation and basic infrastructure of Islamic …

A new frontier for clean power: the Middle East

The Middle East has generated a lot of media attention in recent weeks when it comes to clean power, particularly since the Saudi government announced a plan to install 41 GW of solar systems by 2032. The country also wants to add wind, geothermal, nuclear and other sources into its mix. Saudi …

Facebook opens office in Dubai

The online meet-up site and other social networking tools were instrumental in connecting activists during the wave of protests and revolutions that reverberated across the region last year. But Joanna Shields, Facebook’s vice president and managing director for Europe, the Mideast and …

Obama Ordered Wave of Cyberattacks Against Iran

From his first months in office, President Obama secretly ordered increasingly sophisticated attacks on the computer systems that run Iran’s main nuclear enrichment facilities, significantly expanding America’s first sustained use of cyberweapons, according to participants in the …

Opinion: Is it time for an Arab Gulf Union?

This difficult and highly controversial subject is expected to be debated at the highest level when the GCC Supreme Council meets in Riyadh in December. In the meantime, all six governments will be giving careful attention to a report on the subject prepared by a committee of experts. The …

Symposium Reviews The Gulf Cooperation Council as it Turns 31 – Part 3 – Energy

Today we present part three from the “Gulf Cooperation Council at 31: Implications of Trends and Indications for GCC and US Interests,” a symposium presented last week in Washington, DC, by the National Council on U.S.-Arab Relations. In her panel presentation Ms. Randa Fahmy Hudome, former …

Snapshot: NATO Intervention in Libya Unpopular in Arab World

After French President Francois Hollande in an interview Tuesday hinted at an openness to military intervention in Syria, the question of whether NATO should intervene in the violence-rattled country has again come to the forefront. While distinct differences exist between the conflicts in …

One Palestinian village resists

There have been several good documentaries (and a few good feature films) made about the Israeli-Palestinian conflict, that unhappy relationship between neighbors that has such wide ripple effects throughout the world. But even the best of those movies — like, say, Israeli radical filmmaker …

The Saudi Arabian Defense Industry – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016

A breakdown of the Saudi Arabian defense industry by spend pattern valued from 2005 through 2010 and forecasted from 2011 through 2016…

So, Just Where Can She Work?

The courts in Saudi Arabia sure do love those ‘separate but equal’ laws. Al-Arabiya TV carries this Agence France Presse report that a court in Riyadh has pulled back a Ministry of Labor authorization for men and women to work together in sales at the same enterprise. Saudi women must be …

What Hosni Mubarak’s trial can and can’t tell us

Whatever the verdict, expected on Saturday, in the trial of Hosni Mubarak, the former president of Egypt, it should send a strong message to any future president that executive power will be bound by the rule of law. Mubarak, his former interior minister Habib al-Adly and four top interior …

Houla massacre ‘may be crime against humanity’

Last week’s killing of more than 100 civilians at Houla in Syria may amount to crimes against humanity, the UN high commissioner for human rights has said. Navi Pillay urged the international community to ‘make all efforts to end impunity’ and ‘ensure accountability for perpetrators’ of such …

The Lebanon-Syria lines have been erased

It appears that Lebanon is not the object of spillover from the Syrian conflict but rather that it is very much an integral part of the escalating conflict in Syria. The evidence is clear and the signs multiply daily. They are too numerous for itemization but include the warning by all six …

Opinion: One Simple Rule for U.S. Military Intervention

We will never have logically consistent rules about such things (to the frustration of people, including me, who tend to equate logical consistency with justice and good sense). To questions like, “Why Iraq but not Iran?” or, “Why are we standing by while a Syrian dictator tears apart his own …

Saudi Arabia to formally protest abuse of citizen at airport

In a rare expression of displeasure, Saudi Arabia will lodge an official protest about the incident on Thursday evening at the Islamabad Airport where a Saudi national was badly thrashed by Airport Security Force (ASF) officials without any plausible reason in the presence of his two teenage …

Another missed opportunity with Iran?

The Baghdad talks between Iran and the P5+1 apparently got a lot of serious issues on the table, but didn’t achieve a breakthrough, let alone an agreement. The main reason is the hardline position adopted by the United States and its partners, and especially our refusal to grant any sort of …

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