ILEA001024408: OPEC+ to cut oil output by 2 mln bpd from November

Boao Forum for Asia Riyadh Conference held in Saudi Arabia

STORY: Boao Forum for Asia Riyadh Conference held in Saudi Arabia SHOOTING TIME: May 6, 2024 DATELINE: May 7, 2024 LENGTH: 00:02:02 LOCATION: Riyadh CATEGORY: ECONOMY SHOTLIST: 1. STANDUP (English): WANG HAIZHOU, Xinhua correspondent 2. various of the Boao Forum for Asia Riyadh Conference STORYLINE: The Boao Forum for Asia (BFA) Riyadh Conference was held in the Saudi capital of Riyadh on Monday, with a focus on energy transition for sustainable development. The one-day conference brought together over 180 dignitaries, scholars, entrepreneurs, and industry leaders from Saudi Arabia, China, and other countries to discuss topics related to energy transition and carbon reduction. Participants included Ban Ki-moon, former UN secretary-general and now BFA chairman, Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud, and Abdulrahman Al-Fageeh, a board member of the BFA and CEO of Saudi Basic Industries Corporation (SABIC), which is the co-organizer of the conference. STANDUP (English): WANG HAIZHOU, Xi

PNG seeks more Asian investment via conference in Hong Kong

STORY: PNG seeks more Asian investment via conference in Hong Kong DATELINE: Oct. 17, 2023 LENGTH: 00:01:12 LOCATION: HONG KONG, China CATEGORY: ECONOMY SHOTLIST: 1. various of the Papua New Guinea (PNG)-Asia Investment Conference 2. SOUNDBITE 1 (English): RICHARD MARU, PNG's Minister for International Trade and Investment 3. SOUNDBITE 2 (English): ANTHONY SMARE, President of PNG Chamber of Mines and Petroleum STORYLINE: The Papua New Guinea (PNG)-Asia Investment Conference began on Monday in Hong Kong as the Pacific island country seeks more investments from Asian countries, especially China. In an address at the opening of the two-day conference, PNG Prime Minister James Marape said PNG is a country that features the rule of law, honors agreements with investors and is abundant in opportunities for investment. He is optimistic about Asian economies' growth potential, which fuels opportunities in commerce, trade and people-to-people exchanges. The conference features sessions introducing investment opp

8th OPEC Int'l Seminar held in Vienna

STORY: 8th OPEC Int'l Seminar held in Vienna DATELINE: July 6, 2023 LENGTH: 00:02:01 LOCATION: Vienna CATEGORY: ECONOMY SHOTLIST: 1. various of the 8th OPEC International Seminar 2. various of guests and ministers 3. various of OPEC Secretary General Haitham Al Ghais delivering a speech 4. various of Antonio Oburu Ondo, president of the OPEC Conference in 2023 5. various of guests and ministers STORYLINE: The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday kicked off in Vienna the 8th OPEC International Seminar, its flagship energy event. The two-day seminar, themed "Towards a sustainable and inclusive energy transition," brings together ministers from OPEC member countries and other oil-producing and consuming nations as well as representatives of international organizations, oil and energy companies, academics, and other industry experts. OPEC Secretary General Haitham Al Ghais told the seminar's opening ceremony that the sustainability of energy transition means balancing the nee

OPEC secretary general eyes broad cooperation with China in energy transition

STORY: OPEC secretary general eyes broad cooperation with China in energy transition DATELINE: July 6, 2023 LENGTH: 00:02:03 LOCATION: Vienna CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): HAITHAM AL GHAIS, OPEC Secretary General 2. various of ports in China 3. various of the ongoing 8th OPEC Int'l Seminar 4. various of clean energy sectors of China STORYLINE: The secretary general of the Organization of the Petroleum Exporting Countries (OPEC) said that he is very optimistic about China's economic recovery, and he sees broader cooperation with China in energy transition, technology and other areas. SOUNDBITE (English): HAITHAM AL GHAIS, OPEC Secretary General "China is a stable, reliable outlet for oil production, oil consumption actually, with increasing imports year-on-year. Most of our member countries in OPEC have excellent relationships with China, including my own country Kuwait. For oil demand growth, our forecasts are showing global oil demand growth this year, compared to last year, increa

Saudi FM lauds growing China-Arab cooperation as business conference opens in Riyadh

STORY: Saudi FM lauds growing China-Arab cooperation as business conference opens in Riyadh DATELINE: June 12, 2023 LENGTH: 00:01:49 LOCATION: Riyadh CATEGORY: ECONOMY SHOTLIST: 1. various of King Abdul Aziz International Conference Center in Riyadh 2. various of the opening ceremony of the 10th Arab-China Business Conference 3. various of guests at the Conference STORYLINE: Saudi Foreign Minister Faisal bin Farhan Al Saud said on Sunday that the 10th Arab-China Business Conference is an opportunity to consolidate the historical Arab-China friendship, build a shared future that will benefit both sides, and promote peace and development in the world. The minister made the remarks at the opening ceremony of the conference, which kicked off in the Saudi capital of Riyadh on Sunday. The Saudi minister underlined the dedication by Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud to strengthening the long-standing and advanced partnership between the Arab countries and China in all vital inves

Foreign experts express confidence in Chinese economy

STORY: Foreign experts express confidence in Chinese economy DATELINE: Jan. 26, 2023 LENGTH: 00:02:56 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of general views in China 2. SOUNDBITE 1 (Spanish): EDUARDO REGALADO, Senior researcher, International Policy Research Center of Cuba 3. SOUNDBITE 2 (English): HAITHAM AL GHAIS, Secretary-General, Organization of Petroleum Exporting Countries (OPEC) 4. SOUNDBITE 3 (Spanish): EDUARDO REGALADO, Senior researcher, International Policy Research Center of Cuba STORYLINE: Many experts have expressed confidence in the steady growth of the Chinese economy, saying it will be a boost to the flagging global economy. Faced with the impacts of multiple unexpected factors, the Chinese economy grew by 3 percent in 2022, a relatively high rate among the world's major economies. SOUNDBITE 1 (Spanish): EDUARDO REGALADO, Senior researcher, International Policy Research Center of Cuba "The first thing to be highlighted in the results of 2022 is the resilience of the

Business leaders at Davos optimistic about Chinese economy

STORY: Business leaders at Davos optimistic about Chinese economy DATELINE: Jan. 21, 2023 LENGTH: 00:01:44 LOCATION: GENEVA, Switzerland CATEGORY: ECONOMY SHOTLIST: 1. STANDUP (English): LI CHAO, Xinhua correspondent 2. various of the annual meeting of the World Economic Forum (WEF) 3. various of technologies 4. SOUNDBITE 1 (English): SAADIA ZAHIDI, WEF Managing Director 5. various of Chinese cityscape and consumers 6. SOUNDBITE 2 (English): HAITHAM AL GHAIS, Secretary-General, Organization of Petroleum Exporting Countries (OPEC) 7. various of import and export 8. SOUNDBITE 3 (English): BANDAR ALKHORAYEF, Saudi Minister of Industry and Mineral Resources 9. various of technologies 10. SOUNDBITE 4 (English): HAITHAM AL GHAIS, Secretary-General, Organization of Petroleum Exporting Countries (OPEC) 11. various of cityscape in China STORYLINE: STANDUP (English): LI CHAO, Xinhua correspondent "In the face of a volatile global economy, decades-high inflation and geopolitical conflict, the prospects for Chinese ec

Saudi Arabia announces establishment of 5 investment firms on 2nd day of Future Investment Initiative conference

STORY: Saudi Arabia announces establishment of 5 investment firms on 2nd day of Future Investment Initiative conference DATELINE: Oct. 27, 2022 LENGTH: 00:02:04 LOCATION: Riyadh CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of the 6th edition of the Future Investment Initiative (FII) conference in Riyadh STORYLINE: Saudi Arabia's Public Investment Fund (PIF) has established five regional investment companies to invest in Bahrain, Iraq, Jordan, Oman and Sudan, according to a PIF press release published on Wednesday. The five companies, together with the Saudi Egyptian Investment Company established in August, aim to invest up to 90 billion Saudi Riyals (24 billion U.S. dollars) in various key sectors including infrastructure, real estate development, mining, healthcare, financial services, food and agriculture, manufacturing, telecoms, and technology. The announcement, made by Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, comes on the second day of the sixth edition of the Future Investm

Egypt "closely follows reactions" from OPEC+ oil production cut decision

STORY: Egypt "closely follows reactions" from OPEC+ oil production cut decision DATELINE: Oct. 18, 2022 LENGTH: 0:00:55 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the headquarters of the Egyptian Foreign Ministry STORYLINE: In a statement issued by the Egyptian Ministry of Foreign Affairs on Monday, Egypt said it was closely following the reactions from the recent OPEC+ decision to slash its daily oil production. On Oct. 5, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, announced a major production cut of 2 million barrels per day (bpd) starting November to bolster oil prices that have recently tumbled over recession fears. The reduction equals around 2 percent of this year's global oil demand, which is estimated by OPEC at around 100 million bpd. Egypt also said it supported Saudi Arabia's stance in explaining the technical considerations of the OPEC+ decision, which aims primarily to achieve oil market discipline, and to ensure the s

Turkish fuel prices rise for 3 days after OPEC+ oil production cut decision

STORY: Turkish fuel prices rise for 3 days after OPEC+ oil production cut decision DATELINE: Oct. 8, 2022 LENGTH: 00:02:19 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city, cars running on the highway 2. various of exchange office, bank and street views STORYLINE: Fuel prices in Türkiye have risen for three days in a row as of Friday, with the median prices of diesel oil in Turkish cities, for instance, now as high as 27.20 Turkish liras (1.46 U.S. dollars) per liter. The consecutive fuel hikes come hard on the heels of the decision made on Wednesday by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, to slash its daily oil production by 2 million barrels beginning November, breaking the downward trend of oil prices in the past several months. "Announcement by OPEC+ to cut daily production down by 2 million barrels is apparently enough to make fuel prices go higher, even before the production is lowered," sa

OPEC+ to cut oil output by 2 mln bpd from November

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