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Foreign Minister: The oil market is not suffering from a shortage; the problem lies in refining

Foreign Minister Prince Faisal bin Farhan bin Abdullah revealed that the oil market is not suffering from a shortage of oil, but rather a shortage of capacity

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Foreign Minister Prince Faisal bin Farhan bin Abdullah revealed that the oil market does not suffer from a shortage of oil, but there is a shortage of refining capacity, which is also a problem.

During a roundtable meeting organized by Arab News Japan in Tokyo, he said: “Our focus is on maintaining the stability of oil markets through the OPEC+ group. The dialogue within the group is very active and responds, as needed, to the requirements of the oil markets. As of today, we do not see the market as suffering from a shortage of oil, but there is a shortage of refining capacity, which is also a problem.”.

The Foreign Minister also referred to some of the matters that took place during the recent visit of US President Joe Biden to Jeddah, reaffirming the Kingdom’s commitment to the stability of energy markets.

During the discussion held at the Foreign Correspondents' Club of Japan (FCCJ), where the Japanese version of Arab News was launched for the first time in two and a half years, the Foreign Minister devoted time to a question and answer session in which leading Japanese media outlets participated.

The Foreign Minister began his remarks by offering condolences on the passing of former Japanese Prime Minister Shinzo Abe. He stated, “The sudden death of former Prime Minister Abe was a great tragedy, the repercussions of which we felt throughout the Kingdom. We have always considered Mr. Shinzo Abe to be a true statesman of high competence. Mr. Abe had a tremendous impact on the world stage, as well as on our relations. We saw him as a great friend of the Kingdom and someone who played an active role in strengthening relations between our two countries. We felt deep sadness and shock at his death, and I conveyed the condolences of our leadership this morning to the Prime Minister and the Foreign Minister.”.

The Foreign Minister spoke about strengthening Saudi-Japanese relations, despite the gap caused by the Coronavirus pandemic that lasted for two years.

He added: “The global pandemic has affected our partnership to some extent, and one of the reasons I am here is to ensure that we can maintain the momentum we had reached in our relations with Japan before the pandemic. Even before this visit, we worked with our colleagues in the Japanese government to ensure that work continues on all the agenda items that we have been working on over the past several years, and today we are focused on the future.”.

The Saudi News Network first launched on Twitter via its official account, @SaudiNews50, and quickly became one of the Kingdom's leading independent news sources, thanks to its fast and reliable coverage of major local and international events. Due to the growing trust of its followers, the network expanded by launching its website, a comprehensive news platform offering regularly updated content in the fields of politics, economics, health, education, and national events, presented in a professional style that meets the public's expectations. The network strives to enhance public awareness and provide accurate information in a timely manner through on-the-ground reporting, in-depth analysis, and a specialized editorial team, making it a trusted source for anyone seeking up-to-the-minute Saudi news.

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The Crown Prince receives a message from the President of Kazakhstan to enhance bilateral cooperation

Crown Prince Mohammed bin Salman received a written message from the President of Kazakhstan concerning bilateral relations, which was received by Foreign Minister Prince Faisal bin Farhan in Riyadh.

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The Crown Prince receives a message from the President of Kazakhstan to enhance bilateral cooperation

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received an important written message from His Excellency President Kassym-Jomart Tokayev of the Republic of Kazakhstan. The message focused on ways to strengthen and develop the close bilateral relations between the two brotherly countries and to propel them towards broader horizons in various fields.

His Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, received the message during his official meeting today at the Ministry's headquarters in Riyadh with His Excellency Yermek Kosherbayev, Minister of Foreign Affairs of the Republic of Kazakhstan. During the meeting, they reviewed aspects of joint cooperation and ways to enhance them in a manner that serves the interests of both countries and their friendly peoples.

The depth of Saudi-Kazakh relations

This message comes amidst the active diplomatic efforts underway in relations between the Kingdom of Saudi Arabia and the Republic of Kazakhstan, two countries bound by deep-rooted historical ties based on shared values ​​and mutual respect. These relations are gaining increasing importance in light of global geopolitical and economic shifts, as Kazakhstan is the largest country in Central Asia and a key strategic partner for the Kingdom in this vital region.

Prospects for economic and investment cooperation

Economically, the two countries possess tremendous potential for cooperation, particularly in the energy sector. Both Saudi Arabia and Kazakhstan are major global oil producers and active members of the OPEC+ alliance, which strengthens their joint coordination to ensure the stability of global energy markets. Furthermore, Saudi Arabia's Vision 2030 opens up vast opportunities for mutual investments in mining, infrastructure, food security, and renewable energy, aligning with Kazakhstan's development goals.

The importance of political coordination

On the political front, the exchange of messages between the two leaderships reflects a mutual commitment to continued consultation and coordination on regional and international issues of common interest. The Kingdom plays a pivotal role in promoting stability in the Middle East, while Kazakhstan serves as a vital bridge between Asia and Europe, making the strengthening of their partnership a cornerstone of security and stability in both regions.

The reception was attended on the Saudi side by the Undersecretary of the Ministry of Foreign Affairs for Political Affairs, Dr. Saud Al-Sati, and the Ambassador of the Custodian of the Two Holy Mosques to the Republic of Kazakhstan, Faisal Al-Qahtani, reflecting the high-level diplomatic interest in the outcomes of this meeting and the future steps that will result from it to strengthen the strategic partnership.

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New Mexico investigation into Epstein's ranch: details of the historic decision

New Mexico opens a formal investigation into Jeffrey Epstein's Zorro Ranch. Learn about the legislative committee's efforts to uncover human trafficking networks.

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New Mexico investigation into Epstein's ranch: details of the historic decision

In a decisive legal and legislative move, lawmakers in the US state of New Mexico passed new legislation aimed at launching a comprehensive and extensive investigation into the events that transpired behind the walls of Zorro Ranch, the sprawling estate associated with the late disgraced sex offender Jeffrey Epstein. This step comes in response to growing demands from human rights groups and the public for transparency regarding the network Epstein operated in secrecy.

Bipartisan fact-finding committee

Under the new legislation, a special bipartisan commission will be formed in the state legislature. This commission will have broad powers to gather evidence, subpoena witnesses, and, most importantly, provide a secure platform for survivors to testify about the egregious abuse they suffered at the ranch. The ranch is located in a remote area about 48 kilometers south of Santa Fe, which for many years kept it largely out of scrutiny.

"Zorro Ranch": The Mysterious Castle

This ranch holds particular significance in the context of federal and local investigations, as it spans thousands of acres and includes a sprawling mansion and a private airstrip. The property has long been suspected of being a major hub for the human trafficking operations with which Epstein was accused. This move is the first of its kind at the state level to directly target activities that took place on the property, aiming to determine whether local individuals or others facilitated or covered up these crimes.

A complex historical and legal context

This investigation comes at a time when the Jeffrey Epstein case continues to generate widespread international controversy, particularly following his death in his Manhattan jail cell in 2019, officially ruled a suicide. This effectively prevented a trial that would have revealed many secrets. However, the recent release of court documents related to Virginia Giuffre's lawsuit against Epstein's associate, Ghislaine Maxwell, has brought the case back into sharp focus, revealing a vast network of connections involving politicians, financiers, and celebrities.

The importance of the investigation and its expected impact

Observers believe the New Mexico investigation holds immense symbolic and legal significance. It not only seeks to hold accountable potential perpetrators who may have escaped federal scrutiny, but also aims to close the legal loopholes that allowed these abuses to continue for years. Furthermore, the investigation sends a powerful message of support to the victims, affirming that justice does not expire and that the death of the main suspect does not mean the case is closed as long as there are survivors demanding their rights.

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Saudi Arabia and seven other countries condemn the escalation of settlement activity in the West Bank

Saudi Arabia and seven other countries issued a joint statement condemning Israel's classification of lands in the West Bank as "state lands," warning of the undermining of the two-state solution and calling for urgent international intervention.

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Saudi Arabia and seven other countries condemn the escalation of settlement activity in the West Bank

In a unified diplomatic move reflecting the seriousness of the situation in the occupied Palestinian territories, the foreign ministers of eight countries – the Kingdom of Saudi Arabia, the Hashemite Kingdom of Jordan, the United Arab Emirates, the State of Qatar, the Arab Republic of Egypt, the Republic of Turkey, the Republic of Indonesia, and the Islamic Republic of Pakistan – issued a joint statement expressing their strong condemnation of the recent Israeli decisions concerning the Palestinian territories.

Unprecedented escalation of settlement activity since 1967

The ministers condemned in the strongest terms Israel’s move to designate large areas of land in the occupied West Bank as “state land.” The statement noted that these actions include approving the commencement of land registration and settlement procedures, a dangerous step being taken for the first time since the occupation of the West Bank in 1967. The ministers considered this move a flagrant violation of international law and an escalation aimed at legitimizing and expanding settlements at the expense of the rights of the Palestinian people.

Violation of international laws and resolutions

The joint statement affirmed that these measures fundamentally violate international humanitarian law, specifically the Fourth Geneva Convention, which prohibits an occupying power from transferring its own population into the territory it occupies or altering its geographic and demographic character. The ministers also stressed that these practices constitute a blatant challenge to relevant UN Security Council resolutions, foremost among them Resolution 2334, which affirms the illegality of settlements in the Palestinian territories occupied since 1967, including East Jerusalem.

In a related context, the ministers pointed out that the Israeli decision contradicts the advisory opinion issued by the International Court of Justice, which clarified the legal implications of Israeli policies, stressing the illegality of any measures aimed at changing the historical and legal status of the occupied territory, and the need to end the occupation and prohibit the seizure of land by military force.

Risks of undermining the two-state solution

The foreign ministers of the eight countries warned of the political and security repercussions of these steps, emphasizing that they aim to impose a new administrative and legal reality that entrenches permanent Israeli control. They explained that the continued confiscation of land and the accelerated pace of settlement construction effectively undermine the two-state solution and eliminate any political prospect for the establishment of an independent, viable, and geographically contiguous Palestinian state. They cautioned that these policies pose a real threat to the chances of achieving a just and comprehensive peace in the region and exacerbate tension and instability in the Middle East.

A call for the international community to assume its responsibilities

The ministers concluded their statement with a clear call for the international community to take immediate action and fulfill its legal and moral responsibilities. They demanded decisive and clear steps to halt these ongoing violations and ensure Israel's respect for international law. They reaffirmed their full support for the inalienable rights of the Palestinian people, foremost among them their right to self-determination, an end to the occupation, and the establishment of their independent state on the June 4, 1967 borders, with East Jerusalem as its capital, as the only way to achieve lasting stability in the region.

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