Iran Expects to Release U.S. Prisoners Soon, 'Maybe Five Or Six Of Them'
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Iran says it’s ready to release U.S. prisoners in a swap and that the deal doesn’t depend on any nuclear agreement being negotiated in Vienna. The prisoner issue isn't tied to the nuclear negotiations, but is described as associated with it. The prisoner exchange could start in a matter of days.
Oil prices are approaching $100 a barrel and Russia's invasion of parts of Ukraine is expected to speed up the price rise. And Saudi Arabia's energy minister says oil has to be part of the transition to renewable energy but needs investment: "We have a vital role to play. And we intend to be in business for a very long time."
Qatar's energy minister says his country could meet only 15% to 20% of Europe's need for liquefied natural gas, that "no single country can replace the volume" of gas coming out of Russia, if it's cut off in the current tensions with Ukraine.
And lawmakers and clerics in Kuwait are upset about women doing yoga.
News from Saudi Arabia, the United Arab Emirates, Kuwait, Lebanon, Libya, and More.
A prisoner exchange between Iran and the United States is expected soon. A Russian envoy said nuclear talks in Vienna are near conclusion, and sources said the prisoner swap may involve Iran releasing as many as six people. Mikhail Ulyanov, Russia's representative in Vienna, said negotiations on renewing the 2015 nuclear agreement are "about to cross the finish line," and Iran's foreign minister, Hossein Amirabdollahian, said Iran is ready for an immediate prisoner exchange with the U.S. "Now I believe some of them will be released, maybe five or six of them."
Reuters, Iran appears to be ready to swap prisoners with U.S. as talks approach 'finish line.'
Oil prices are barreling toward $100 a barrel. As Russia's Vladimir Putin sends troops into Ukraine, there are fears of disruptions to energy shipments and even higher prices. Global markets were rattled by Russia's recognition of two breakaway Ukrainian regions, and one leading analyst said: "Seeing oil prices soar to a seven-year high is reminiscent of the 1970s. We have seen this before. Prices skyrocket, the public is cornered into using less, and ultimately it's the poorer countries that suffer most."
Both Saudi Arabia and the United Arab Emirates over the weekend rejected calls to pump more oil and ease pressure on prices. Then Iraq added its voice, also declining a larger expansion of production by the OPEC+ countries.
Insider, Oil prices barrel toward $100 as Putin's order to send troops into Ukraine fuels fear of disruptions to energy shipments
Bloomberg, Iraq says OPEC+ doesn't need to raise oil output any faster.
Oilprice, OPEC is ready to embrace $100 oil.
Neither Qatar nor any other single country can replace Russia's liquefied natural gas (LNG) supplies to Europe. Qatar's energy minister, Saad al-Kaabi, said the most gas Qatar can ship to Europe is 10% to 15% of its supply, with most volume locked up in long-term contracts to Asian buyers. Kaabi's comments renewed concern in Europe that, as tension between Russia and Ukraine escalates, gas supplies can be interrupted.
Kaabi said Russia supplies from 30% to 40% of Europe's demand. "There is no single country that can replace that kind of volume. There isn't the capacity to do that from LNG."
Reuters, Qatar says "almost impossible" to quickly replace Russian supplies.
Qatar's Emir received a letter from Russia's president, Vladimir Putin. As Qatar hosted a gas forum and questions arose about supplies to Europe, Putin sent a letter to the emir of Qatar, Sheikh Tamim bin Hamad Al-Thani through an emissary, Russian energy minister Nikolay Shulginov, who was attending the conference. The letter was described as concerning ways to to support and strengthen relations between Qatar and Russia.
Reuters, Qatar's Emir receives letter from Russia's Putin stressing bilateral relations - state news agency.
Qatar's liquefied natural gas production will rise to 126 million tons a year by 2027. Emir Sheikh Tamim bin Hamad Al-Thani cited the increase at a gas forum he hosted in Doha. "To further promote our role in the production of natural gas, we are endeavoring towards increasing our LNG production capacity from 77 millions tons yearly to 126 million tons yearly by 2027," he said. The emir also touted a carbon capture facility Qatar is building. It will be the largest in the Middle East and in four years will isolate and store 2.5 million tons of carbon. By 2030, the facility will isolate 9 million tons per year.
Reuters, Qatar's LNG production capacity to reach 126 mln T a year by 2027, says Emir.
Iran, Russia, and Qatar have the largest reservoirs of natural gas. Iran's oil minister noted the size of the reserves the three countries hold -- "big gas reservoirs" --- but said he couldn't predict how the future market of the gas might play out. The Irani minister, Javad Owji, addressed the gas reserves on the sidelines of a gas exporters' conference in Doha, the capital of Qatar. Russia holds the most natural gas reserves, followed by Iran, and then Qatar. The United States has only about half of Qatar's reserves.
Reuters, Iran, Russia, Qatar have big gas reservoirs, minister says, but cannot predict market future.
Qatar's emir called for a dialogue to ensure natural gas supplies and security. Sheikh Tamim bin Hamad Al-Thani cited signs of a natural gas crisis in Europe, the escalating tensions between Russia and Ukraine, and said a dialogue "between member states on the one hand, and exporters and importers on the other," could ensure gas supplies and stabilize global markets.
Yeni Safak, Qatar calls for dialogue to secure global gas supply.
For the first time in the history of Iraq, the country wants to shift its investment priority from the oil sector to natural gas. Oil minister Ihsan Abdul-Jabbar explained that the change would allow Iraq to increase its production of liquefied natural gas and distillates. The minister spoke at a gas exporters conference in Doha, Qatar.
Reuters, Iraq aims to shift investment priority from oil to gas sector, minister says.
Iraq is in talks with Saudi Aramco and Halliburton to develop oil and gas in the country's west. Oil minister Ihsan Abdul-Jabbar said the ministry is finalizing commercial terms and scope of the work and expects Iraq's new government to sign the contract when it takes office. A new Iraqi government, expected to be controlled by the party of cleric Muqtada al-Sadr, has been held up by disputes among political parties.
Blooombeg, Iraq in talks with Halliburton, Saudi Aramco to develop oil, gas in western desert.
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Kuwait and Iraq are planning new renewable energy projects focused on solar and hydrogen. Kuwait's oil minister, Mohammad Alfares, said Kuwait is developing a low-carbon strategy that will ease transition to 2035 on a continuous basis. The state is considering a pilot project in "blue and green hydrogen technology," Alfares said, and "it is under study and to be piloted shortly."
Iraq is also considering strategic adoption of renewable energy as a way to wean the country off imports of gas and power from Iran, the Iraqi oil minister, Ihsan Ismail, said. "Keeping the power generation dependent on hydrocarbons is costly for Iraq."
S&P Global Platts, Kuwait, Iraq target new hydrogen and solar projects.
Saudi Arabia's energy minister issued a stark warning about the dangers of underinvesting in oil, saying it could spark a new energy crisis. Prince Abdulaziz bin Salman said renewable energy sources depend on materials that can only be produced with hydrocarbons. "So make no mistake. Oil and gas are part of this transition. We have a vital role to play. And we intend to be in business for a very long time."
Oilprice, Saudi Arabia slams shortsighted campaign against oil.
Qatar and Iran signed 14 agreements as the president of Iran visited Doha. The agreements covered trade, air and sea transportation, visas, standards, electricity, education, and culture. The signings were on the sidelines of a gas forum hosted by Qatar's emir, Sheikh Tamim bin Hamad Al-Thani, and attended by President Ibrahim Raisi of Iran.
Doha News, Iran and Qatar sign 14 official cooperation agreements.
Saudi Arabia held celebrations to commemorate its founding 300 years ago as it played down its conservative past and highlighted 3,500 performers. The government staged events including musical performances, fireworks, and drone shows with sound effects. The anniversary marked the day in 1727 when Mohammed bin Saud, founder of the first Saudi state, took over the emirate of Ririyah, a remote town which now lies on the northwest edge of the Saudi capital of Riyadh.
Reuters, Saudi Arabia for first time marks its founding, downplaying conservative roots.
India is reviving free trade talks with the Gulf Cooperation Council (GCC) after more than a decade. Official negotiations are expected to start in a few months, and a deadline at the end of 2022 is set for completion of initial discussions. India's trade with the six Gulf states was at $120 billion before the coronavirus pandemic, after which it fell to $87.2 billion The amount then rose to $108.8 billion in the current fiscal year.
MSN, India official free trade talks with Gulf Cooperation Council may restart soon.
The United Arab Emirates is plowing money into drones, robots, and other unmanned weaponry. Twenty-five Emirati firms that formed a defense consortium called Edge three years ago are heavily investing, as "autonomous systems are becoming ever more prevalent around the world," an Edge official said. "We are really heavily investing in developing our autonomous capability, as well as in electronic warfare and in our smart munitions. These are our three pillars."
AFP, UAE invests in drones, robots as unmanned warfare takes off.
The militant Houthis in Yemen are broadcasting programs through Lebanese channels, and the Yemen government is protesting. The channels aren't legally licensed, and Yemen's foreign minister, Ahmed Awad bin Mubarak, wrote a protest letter to Lebanon's interior minister, Bassam Malawi. Malawi is now asking for a investigation of the two channels.
Xinhua, Yemen gov't complains to Lebanon over Houthi broadcast.
Qatar is aiming at long-term support for Lebanon's energy, supplying liquefied natural gas. Qatar's energy minister, Saad al-Kaabi, said he was happy that Egypt can assist Lebanon in the short term, sending gas supplies through a network of pipelines in Jordan and Syria, but indicated that Qatar's supply would meet longer-term needs.
Alarabiya, Qatar working to support Lebanon on energy long-term: Energy minister.
Libya's embattled prime minister Abdulhamid al-Dbeibah said appointment of a new interim government could set off war. He called any plan to install a new government as "reckless" and "a farce." He said he "will not accept by whatever form to hand over to chaos," and that an election "is the sole solution."
Associated Press, Libya's embattled PM says replacing him could trigger war.
Libya's interim prime minister announced plans for elections in the summer as he tries to stay in office. Abdulhamid al-Dbeibah, who heads the Goverrnment of National Unity (GNU) in Libya's west, repeated his pledge to step down only after a national vote. He is defying the eastern-based parliament, which has designated its own prime minister to replace him.
Reuters, Libyan PM pushes summer election amid parliament bid to oust him.
Tunisia's judges announced a protest for this week. The Tunisian Judges Association said it will stage a protest Thursday to respond to ongoing targeting of the judiciary by the government of President Kais Saied. Saied announced earlier this month that he was dissolving Tunisia's Supreme Judiciary Council, then changed and said he would replace its members. Saied also has extended Tunisia's state of emergency until the end of the year.
Reuters, Tunisia's judges association calls for a protest on Feb. 24 - statement.
The United Nations voted unanimously to end its requirement for Iraq to compensate victims of its 1990 invasion of Kuwait. Baghdad has now paid more than $50 billion to 1.5 million claimants. Michael Gaffey, Ireland's ambassador to the UN in Geneva and head of the UN Compensation Committee, said the UN fund that enabled the payments was "historic for the United Nations and for effective multilateralism."
Associated Press, UN ends Iraq's requirement to pay victims of Kuwait invasion.
Israel is accusing Iran of transferring advanced drone technology to Venezuela. Israeli Defense Minister Benny Gantz displayed a photo he said showed that Venezuela was importing Iranian drones with attack capabilities. "This image shows a model of the advanced Iranian Mohajer UAV presented by Venezuela's president," Gantz said.
Times of Israel, Gantz claims Iran giving Venezuela attack drone know-how.
MORE: Sinopec to construct $179 million LNG storage tank in Algeria, Energy Capital & Power... Russia and Algeria team up against Morocco, RealClearDefense... Qatar: Foreign minister appoints new official ministry spokesperson, The Peninsula... Egypt's real GDP growth climbs to 8.3% in Q2 of FY 2021/22: Planning minister, Ahram... Egypt's unemployment rate eases as economy recovers, Zawya... Sudan slams Ethiopia move at controversial Nile dam, AFP... Amir meets head of Government of National Unity of Libya, The Peninsula.
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Returning to the 2015 nuclear agreement with Iran would make the country's breakout time for building a nuclear weapon longer than now, but still not a year's time. Iran says it only wants to enrich uranium for civil uses, but many suspect it's keeping its options open, or at least seeking to gain leverage in negotiations by getting closer to being able to produce a nuclear weapon.
Reuters, Explainer: How close is Iran to being able to build a nuclear bomb?
Lawmakers and clerics in Kuwait thundered about women doing yoga, and the yoga ruckus was just the latest flashpoint in a culture war over women's behavior in Kuwait.
The country once prided itself on its progress compared to its Gulf neighbors, but "Our state is backsliding and regressing at a rate that we haven't seen before," Najeeba Hayat, a feminist activist, said.
Associated Press, As Kuwait cracks down, a battle erupts over women's rights.
Saudi Arabia's Public Investment Fund is transforming almost as fast as the country itself. A few years ago, PIF was a sleepy holding company for government investments that hardly anyone outside the kingdom had heard of. Now it's closing in on $1 trillion in assets as it snaps up everything from soccer clubs to electric carmakers and bankrolls new cities in the desert.
Washington Post, How giant Saudi wealth fund is building a post-oil future: Quick take.
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