Downstream experts set for Yanbu forum

Updated 03 March 2014
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Downstream experts set for Yanbu forum

Top government and private sector leaders gather in Yanbu on Tuesday to focus on ways to grow the Kingdom’s petroleum downstream industries.
The Royal Commission for Yanbu and Jubail (RCYJ) hosts the third edition of Saudi Downstream, the Kingdom’s refining and petrochemical forum.
The opening ceremony of the two-day forum includes a welcome address by Prince Saud bin Abdullah bin Thunayyan Al-Saud, chairman of the RCYJ, followed by a session on the importance of downstream industries in maintaining and developing a sustainable national economy.
This session will feature Ali Al-Naimi, minister of petroleum and mineral resources, Abdullatif Al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), Khalid bin Saleh Al-Mudaifer, president and chief executive officer of Saudi Arabian Mining Company (Maaden), and Mubarak Al-Khafra, chairman of Tasnee.
Other participants include Alaa Nassif, executive president of the RCYJ, Muhammad H. Al-Mady, vice-chairman and CEO of Saudi Basic Industries Corporation (SABIC), and Azzam Shalabi, president of the National Industrial Clusters Development Program.
The sessions will look at ways to develop and sustain private and public partnerships. There will also be three workshops focusing on investment opportunities in Jubail, Yanbu and Ras-Al-Khair, including solar and lubricant industries.
The exhibition area is open to the public and will have the displays of 40 international companies looking to cement their positions in one of the Kingdom’s most lucrative markets.
A new addition to the forum this year will be a pavilion on small and medium businesses, sponsored by Maaden.
Nassif said there has been a total of SR150 billion invested in the Yanbu Industrial City, with 175 manufacturing plants set up.
Day two of the forum includes various workshops on “positioning Saudi Arabia as a business and industrial hub serving the region,” according to the forum’s website.
The aim is to highlight “expansion in the industrial cities and assess which new industries will best complement the existing services within Saudi Arabia and create a development plan to incorporate these into future planning.”


Iran says Japan has started process of importing Iranian oil

Updated 21 January 2019
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Iran says Japan has started process of importing Iranian oil

  • Exemptions have been granted to Iran's biggest oil clients - Japan, China, India, South Korea, Taiwan, Italy, Greece and Turkey
  • Iranian oil accounted for 5.3 percent of Japan's total crude imports in 2018

LONDON: Japan has started the process of importing Iranian oil, which was suspended due to U.S. sanctions, the governor of Iran's central bank said on Monday.
The resumption of oil imports comes after Tokyo was granted a waiver from U.S. sanctions that went into effect in November. Iran is the fourth-largest oil producer among the members of the Organization of the Petroleum Exporting Countries.
"After China, South Korea, India and Turkey, Japan also started the process of importing Iranian oil," Abdolnaser Hemmati was quoted as saying by the state news agency IRNA.
Iran's oil exports have fallen sharply since U.S. President Donald Trump said in May 2018 the United States would withdraw from a pact curtailing Iran's disputed nuclear programme and reimpose sanctions on Tehran.
However, exemptions have been granted to Iran's biggest oil clients - Japan, China, India, South Korea, Taiwan, Italy, Greece and Turkey - which allow them to import some oil for another 180 days.
Iranian oil accounted for 5.3 percent of Japan's total crude imports in 2018.