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Iraq is keen to maintain stable oil prices at not more than $100 per barrel, Prime Minister Mohammed Shia al-Sudani told reporters on Saturday.

Iraq, a member of the Organization of the Petroleum Exporting Countries (OPEC), will have discussions with other members to reconsider and increase its production quota, he added in a briefing.

“Iraq is keen for stability of energy prices, we do not want prices to increase above $100 and neither, at the same time, for them to fall in a way that affects the level of supply and demand,” he said.

Sudani’s cabinet took office in late October, ending more than a year of deadlock since a parliamentary election. He was backed for the post of prime minister by an alliance of Iran-aligned factions.

Sudani said Iraq was determined to keep mediating between regional rivals Saudi Arabia and Iran, which have been locked in proxy conflicts across the Middle East and started talks last year hosted by Baghdad to try to contain tensions.

“The concerned parties officially asked us to continue playing this role”, Sudani said.

Frictions have grown recently between Saudi Arabia and Iran, which has been swept by more than two months of protests ignited by the death of 22-year-old Mahsa Amini while she was in the custody of the country’s morality police.

Iran has accused foreign adversaries of fomenting the unrest.

Iran’s intelligence minister told Saudi Arabia on Wednesday that there is no guarantee of Tehran continuing its “strategic patience,” according to semi-official Fars news agency.

Last month, Iran’s Revolutionary Guards chief Hossein Salami warned Saudi Arabia Riyadh to control its media outlets.

Source:https://www.reuters.com/business/energy/iraq-wants-keep-oil-stable-not-above-100-per-barrel-pm-2022-11-12/

The European Commission – which is the executive branch of the European Union – has taken another positive step towards its goal of implementing visa-free travel for all countries in the GCC.

In its latest decision, the European Commission has proposed the waiving of visa requirements for all Qatar and Kuwait nationals.

Under this proposal, once agreed, Qatar and Kuwait nationals holding biometric passports would no longer need a visa when travelling to the EU for short stays of up to 90 days in any 180-day period for business, tourism, or family purposes.

The high representative and vice president of the European Commission, Josep Borrell (below), said: “Our proposal to lift visa requirements for Qatari and Kuwaiti nationals is a first step to make it easier for people from the entire region to travel to the European Union.

“The final objective is to ensure regional coherence and ultimately achieve visa-free travel for all Gulf Cooperation Council countries. Together with our upcoming Joint Communication on the Gulf, this proposal will reinforce the overall partnership and strengthen the cooperation between the EU and the Gulf Cooperation Council.”

This proposal comes after the Commission assessed a number of criteria including irregular migration, public policy and security, economic benefits, and the union’s relations with the two countries. It will contribute to strengthening relations with Gulf countries.

The vice president for Promoting our European Way of Life, Margaritis Schinas (below), said: “Today we are proposing short-stay visa-free travel to the EU for Qatari and Kuwaiti citizens with biometric passports – facilitating people-to-people contacts and strengthening business, social and cultural ties.

“This is the result of the success of the governments of Qatar and Kuwait in achieving far-reaching reforms and reflects the increasing intensity and depth of EU relations with both countries. It is an important achievement for citizens in both regions, and I hope that the European Parliament and the Council will adopt our proposal swiftly.”

After an assessment of the criteria set in the EU rules on visa requirements, the European Commission concluded that Qatar and Kuwait present low irregular migration risks and are increasing cooperation on security issues with the EU.

They issue biometric passports, which is a pre-condition for visa-free travel to the EU. Qatar and Kuwait are also important economic partners for the Eurpean Union, in particular in the energy sector.

The commissioner for Home Affairs, Ylva Johansson (below), said: “The proposal for visa exemption for Qatar and Kuwait nationals facilitates business travels, tourism, and family visits to the EU.

“It is also a step towards stronger regional coherence in the Gulf region when it comes to visa regimes. The EU will continue engaging with the remaining visa-required Gulf countries that are interested in visa-free travel to the EU.”

Visa-free travel for GCC nationals
It is now for the European Parliament and the Council to examine the proposal and decide whether to grant visa-free travel to the EU to nationals of Qatar and Kuwait.

If the proposal is adopted by the European Parliament and the Council, the EU will negotiate a visa waiver agreement with Qatar and Kuwait, respectively, to ensure full visa reciprocity for EU citizens.

Visa-free travel to the EU for nationals of Qatar and Kuwait will start applying once the visa waiver agreement enters into force.

The Commission is monitoring the situation and may propose new visa exemptions in the future where appropriate based on an assessment against the criteria set in the EU rules on visa requirements.

In particular, the EU will continue engaging with the remaining visa-required Gulf Cooperation Council countries that are interested in visa-free travel to the EU.

The Commission will shortly launch technical discussions with these partners on the fulfilment of criteria for visa exemption under the Visa Regulation. The final objective is to achieve visa free travel for all Gulf Cooperation Council countries.

EU’s current visa-free regimes
The EU currently has visa-free regimes in place with more than 60 countries and territories.

EU law lists the non-EU countries whose nationals need visas to travel to the EU and those whose nationals are exempt from that requirement.

Under the visa-free regime, eligible non-EU nationals can enter the Schengen area for 90 days, within any 180-day period, without a visa.

Visa-exempt travellers visiting the Schengen area will be subject to the EU Entry/Exit System (EES) as of second half of 2022 and to the European Travel Information and Authorisation System (ETIAS) as of May 2023.

Exemptions from the visa requirement play a key role in facilitating people-to-people contacts and strengthening political, economic, research, educational, cultural, and societal exchanges.

The proposal for visa exemption for Qatar and Kuwait nationals is a step towards stronger regional coherence in the Gulf region, following the visa exemption granted to the United Arab Emirates in 2014.

Under the visa exemption, travellers can visit all EU Member States except for Ireland, as well as the four Schengen associated countries (Iceland, Liechtenstein, Norway and Switzerland).

The visa exemption is independent from possible work permit requirements in EU Member States.

It does not provide for the right to work in the EU, although Member States have the possibility to allow travellers to conduct a paid activity during their stay.

Source:https://www.arabianbusiness.com/industries/travel-hospitality/european-commission-takes-a-step-towards-visa-free-travel-for-all-gcc-countries-as-travel-rebounds-in-2022

Shell Oman Marketing Company has launched its first electric vehicle (EV) charging hub in Oman, located at Al Bandar Service Station in Seeb. It has supplemented the existing fuel station with a fast electric charging point, catering to the EV owners in the capital.

The new ShellRecharge service will enable customers to charge their EVs speedily and to enjoy seamless drives within and around the city. Already featuring an environmentally sustainable design with built-in solar panels on the Shell Select store, the service station is now also equipped with a 50kW electric charging point.

Along with a comfortable waiting area and the Shell Select convenience store, the site also includes the newest Shell Café, Shell’s in-house coffee brand, which is being launched in a growing number of countries around the world.

While at the inaugural ceremony, István Kapitány, Global Executive Vice President of Shell Mobility said, “Shell has a proud tradition of supporting Oman’s drivers and making their journeys better with products like our premium Shell V-Power fuels and great convenience offers. I’m pleased to be opening the next chapter of Shell’s history in Oman with the introduction of ShellRecharge to our forecourts. We’ve designed the Al Bandar hub to offer an EV charging experience that is as convenient and comfortable as possible. By integrating a Shell Café, we’re also offering drivers the opportunity to recharge themselves as well as their EVs. Ultimately, the goal of Shell Mobility is to provide everything our customers need while they’re on the road, and this new location is a first step in doing exactly that.”

Expressing his delight with the launch of the new ShellRecharge at Al Bandar service station, Dr Mohammed Al Balushi, CEO, Shell Oman, said, “The ShellRecharge at Al Banadar service station marks a first in our EV roadmap and it will redefine EV charging in Oman. As a leading player in our sector, Shell Oman will contribute expertise in the energy transition to support Oman’s Carbon Control Target Plan which is rooted in the Oman Vision 2040. It remains our endeavour to collaborate with the relevant authorities and stakeholders to realise the goals of the National Energy Strategy and accelerate the gradual transition to a lower-carbon economy and an energy matrix with lower carbon emissions. At the same time, the introduction of Shell Café proves our commitment to the development of our network and the improvement of our offer. We want to provide our customers with the best possible experience, so our Shell Café hospitable environment will provide them with a comfortable rest and refreshment before their onward journey.”

While 2021 proved to be a game-changer in EV sales globally, Oman, with a growing choice of new electric car brands, is expected to witness corresponding growth in the future. This would augur well for companies investing in charging points that are compatible with all EVs, like Shell’s electric charging point at Al Bandar. Shell is committed to not only providing cleaner energy solutions that are environmentally sustainable but also generating better awareness of greener alternatives in the community.

Source:https://timesofoman.com/article/113601-shell-launches-its-first-electric-vehicle-charging-hub-in-oman

Worries that the current shortage of liquefied natural gas will persist through the middle of the decade are triggering a rush to sign long-term deals, pushing up the price of contracts for the super-chilled fuel.

While contracts had been getting cheaper over the last few years due to rising supply from Qatar and end-users favoring the more affordable spot market, the anxiety spurred by the current supply crunch has reversed the trend. There’s a lack of uncontracted gas available through 2025, which is boosting oil-indexed agreements, according to consultancy Wood Mackenzie Ltd.

“2021 saw the return of contracting activity to its highest levels over the last five years,” Valery Chow, WoodMac’s head of Asia-Pacific gas and LNG research, said in a report released Thursday. “Asia accounted for 85% of global contracts signed, with China leading the pack.”

China’s Beijing Gas Group Co. recently signed a deal to buy LNG from a portfolio player at about 12.7% to 12.9% of the price of Brent crude. By comparison, Qatar was signing supply agreements to customers in Asia’s largest economy in the low-10% range early last year.

LNG spot rates from Asia to Europe surged to records in 2021 as supply struggled to keep pace with the demand rebound from the depths of the pandemic. Importers stuck without contracted LNG supply linked to the price of oil — a practice dating back to the 1970s — were forced to pay astronomical rates to secure spot cargoes of the electricity feedstock and heating fuel.

Crude prices have been much less volatile than spot LNG benchmarks over the past year, increasing customer preference for oil-indexed deals. Contracts linked to the U.S. Henry Hub gas index have also been gaining in popularity, due to lower prices in the U.S. and the availability of new supply. WoodMac said it expected them to stay “in vogue” in 2022.

Source:https://www.arabianbusiness.com/industries/energy/gas-crunch-pushes-anxious-buyers-to-pay-more-for-contracts