News – 2012.06.08

Published: June 8, 2012

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

 

OPEC draws fine line between oil balance and chaos

“A month ago, it seemed like the quota meeting would be pretty boring, but maybe not now,” said Michael Lynch, president of Strategic Energy & Economic Research and a scheduled speaker at the upcoming OPEC conference. “The recent drop in prices is causing some pain in countries, like …

Can We Survive the New Golden Age of Oil?

Energy experts are tittering about a prodigious new golden age of oil and gas in the Eastern Mediterranean, where Israel and Cyprus could become substantial oil and natural gas exporters, in addition to some other surprising places including French Guiana, Kenya, North Dakota, and Somalia. All …

Hottest rain on record? Rain falls at 109°F in Saudi Arabia

Pilgrims to the holy city of Mekkah (Mecca), Saudi Arabia must have been astonished on Tuesday afternoon, when the weather transformed from widespread dust with a temperature of 113°F (45°C) to a thunderstorm with rain. Remarkably, the air temperature during the thunderstorm was a sizzling …

The Middle East fights the Flame, but virus spreads anyway

Two years ago there was Stuxnet, a virus that targeted Iranian uranium-enrichment infrastructure. Now Flame, a mutating piece of malware, is continuing to spread, infecting more than 1,000 Windows-powered computers across the Middle East. It’s centered on Iran, but has also spread to Israel and …

Flame malware makers send ‘suicide’ code

The creators of the Flame malware have sent a ‘suicide’ command that removes it from some infected computers. Security firm Symantec caught the command using booby-trapped computers set up to watch Flame’s actions. Flame came to light after the UN’s telecoms body asked for help with …

Nations must talk to halt cyber terrorism: Kaspersky

Security experts say Flame is one of the most sophisticated pieces of malicious software so far discovered. They are still investigating the virus, which they believe was released specifically to infect computers in Iran and across the Middle East. Kaspersky named the United States, Britain, …

US Mulls ‘Going Big’ On Iran, Diplomatic Sources Say

The current Obama administration discussion revives a debate that took place among US officials much of last year about whether to propose a big or more incremental offer to Iran. Senior policy officials at the Defense Department are said to have favored offering a bigger deal to Iran, …

Panetta: US losing patience with Pakistan on militancy

Washington is running out of patience with Pakistan over alleged safe havens for Taliban militants, US Defence Secretary Leon Panetta has warned. On an unannounced trip to Kabul, he said Islamabad must act against the Haqqani militant network, which attacks Nato troops based in …

Hilary Clinton calls for Bashar al-Assad’s resignation after Hama massacre in Syria.

Speaking from Turkey where she met with other foreign officials about a way forward for Syria after the all-but-total collapse of the U.N.-brokered peace plan, Clinton called the recent violence ‘simply unconscionable’ and blamed Assad for ‘doubling down’ on his violence crackdown on the …

Saudi religious authority forbids ‘jihad’ in Syria

A member of Saudi Arabia’s highest religious authority prohibited on Thursday any acts of jihad in Syria. Sheikh Ali al-Hikmi of the Saudi Council of Senior Scholars issued a fatwa forbidding jihad after calls for such action have increased in recent months. Al-Hikmi warned, in a …

Symposium Reviews The Gulf Cooperation Council as it Turns 31 – Wrapup

I do feel with the challenges education, encouraging, private entrepreneurs, the states in the region are making efforts to go after clean energy, green energy, but I would like to see individuals, I like to see people become like John D. Rockefeller. As I said before we have traders but we …

Snapshot: Rural Egyptians Are Engaged in Political Process

Often overshadowed in the media by the protest movements and the voting interests of Egypt’s largest cities, high percentages of rural Egyptians voted in last winter’s parliamentary elections, and they will likely play a key role in the presidential runoff. Large majorities of rural residents …

School’s Out: Drive Safely

Schools in Saudi Arabia are winding up their spring semesters and students are heading off for summer vacation. Public safety officials are calling for a crackdown on hazardous driving before the (male) students get behind the wheel and start having fun, however they happen to be defining …

Cell phone use in KSA up 200%

The use of mobile phones in the Kingdom has increased by 200 percent, according to an international telecom expert. ‘We expect that the Saudi telecom market will continue to grow,’ said Comptel Corporation’s President and CEO Juhani Hintikka. In a statement on the occasion of the opening of …

CGGVeritas Announces R&D Collaboration with Saudi Aramco

CGGVeritas announced today that it has signed a Memorandum of Understanding (MOU) with Saudi Aramco for collaborative research and development of geophysical acquisition, processing, analysis and interpretation technologies. The MOU creates a framework for Saudi Aramco and CGGVeritas to …

SpiceJet, Saudi Arabian Airways to transport Haj pilgrims this year

Air India Ltd (AI) will not be ferrying Haj pilgrims to Saudi Arabia from India this year. Part of the state-run carrier’s traditional task will be carried out by SpiceJet Ltd, the country’s second-largest low-fare airline. Saudi Arabian Airlines will fly nearly half of the 125,000 Haj pilgrims …

Saudi mulls funding Egyptian projects worth $230m: Ambassador

The Saudi Fund for Development (SFD) is reviewing three projects proposed by the Egyptian government worth a total of $230 million, the Kingdom’s Ambassador to Egypt Ahmed Kattan said in a statement on Friday. The first project is worth $60 million to supply Nasr City with drinking water. The …

Saudis order EMS communications system

Saudi Arabia’s Ministry of Health has contracted the Harris Corp. to provide a communications system for public safety. The system, which will feature secure and integrated voice and data communications in support of emergency medical services, would be used in western Saudi …

Steel firm rescued by Saudi company

A steel firm which went into administration earlier this year with the loss of more than 350 jobs has been bought by a Saudi Arabian company and production will resume, it has been announced. Thamesteel, at Sheerness on the Isle of Sheppey, Kent, has been sold out of administration to a new …

Algeria to Invest $80 Billion in Oil and Natural Gas

Algeria, the OPEC member country and 16th largest oil producing country in the world, has just recently announced that its state energy company Sonatrach plans to increase investment in the natural gas and petrochemical sectors to $80 billion over the next five years. The $80 billion …

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