Saudi Minister of Energy reviews with his Chinese counterpart current situation in oil market

Saudi Energy Minister Khalid al-Falih attends a news conference. (Reuters)
Updated 25 May 2018
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Saudi Minister of Energy reviews with his Chinese counterpart current situation in oil market

  • The two ministers agreed that the foundations of the global oil market are currently strong and that all parties should make joint efforts to ensure market stability
  • Al-Falih informed Bakri of his ongoing consultations with his counterparts from major OPEC oil producers, including the Russian Minister of Energy and the Minister of Energy of the UAE

Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Energy Khalid Al-Falih telephoned China’s Minister of National Energy, Noor Bakri, to discuss the joint cooperation between the two countries in the field of energy and review the current situation in the global oil market.

The two ministers agreed that the foundations of the global oil market are currently strong and that all parties should make joint efforts to ensure market stability, Saudi state TV Al-Ekhbariya reported.

Al-Falih informed Bakri of his ongoing consultations with his counterparts from major OPEC oil producers, including the Russian Minister of Energy and the Minister of Energy of the UAE.

As a major oil consumer, China will continue to monitor developments in the market and hopes that Saudi Arabia, in cooperation with other countries concerned, will be able to take more important steps to ensure adequate supply of crude oil and contribute to the stability of world’s oil prices.

The Saudi minister assured Bakri of the Kingdom’s commitment to maintaining stability in the markets. He stressed that the Kingdom will work with other producing countries to ensure adequate supplies to compensate for any potential shortage of production and meet global demand.


Companies in Oman need government permission before hiring expats

Updated 09 December 2018
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Companies in Oman need government permission before hiring expats

  • A new traffic light-themed online system is currently being rolled out in Oman, in which companies’ Omanization quotas are being monitored
  • “The new system focuses on enhancing Omanization rates in the private establishments”

DUBAI: Oman-based companies will have to secure the Ministry of Manpower’s go ahead before they can hire expats, local daily Times of Oman reported this week.
A new traffic light-themed online system is currently being rolled out in Oman, in which companies’ Omanization quotas are being monitored.
Under this new system, companies that meet Omanization standards set by the government will receive a green signal online, allowing them to proceed with hiring expat employees.
Companies with unclear Omanization policies will be given a yellow signal, while companies that fall short of meeting their quotas will receive a red signal, barring them from moving forward with hiring expat employees.
“The new system focuses on enhancing Omanization rates in the private establishments,” said a ministry spokesperson.
The step taken by the government is part of the Omanization drive to recruit more of its citizens in private companies, a similar push is underway across the GCC where countries like Saudi Arabia and Kuwait have also been trying to increase the number of nationals in private sector employment.

Earlier this year, expat workers in the country faced a six-month visa ban across 87 industries, including media, engineering, marketing and sales, accounting and finance, IT, insurance, technicians, administration and HR.