Latest news with #Al-Faris
Leaders
4 days ago
- Business
- Leaders
GFSA Governor Reviews Wheat Supply Readiness in Makkah Region
Ahmed Al-Faris, Governor of the General Food Security Authority (GFSA), conducted an inspection tour of the National Grain Supply Company (SABIL) facilities in Jeddah and Al-Jumum, within the Makkah Region, to evaluate their preparedness in meeting the wheat supply demands of flour mills ahead of the 1446 Hajj season. During the visit, officials reviewed operational plans approved for the Hajj period, current wheat stock levels, and measures in place to swiftly respond to flour milling companies' requests. Governor Al-Faris affirmed that the daily output of flour mills in Jeddah, Al-Jumum, and Madinah sufficiently covers consumption needs. He also highlighted that strategic reserves have been established, with over 600,000 tons of wheat and 935,000 bags of flour (each 45 kilograms) stockpiled across SABIL branches and milling companies in Makkah and Madinah, all ready for immediate deployment. Nationally, additional strategic reserves exceed 1.2 million tons of wheat. Al-Faris called on all involved entities to intensify their efforts and heighten their state of readiness to serve pilgrims, underscoring the vital role of SABIL and flour milling companies in ensuring continuous access to essential staples throughout the Hajj season. Related Topics : Saudi Arabia Gives Green Light to Licensed Companies to Export Flour Saudi Paper Manufacturing Company Signs €24.9M Deal with ABC Bank Crown Prince Announces 'Al-Alat Company Launch Saudi Arabia plans to Supply enough amount of Durum Wheat Saudi Pavilion Secures New York Architectural Design Awards at Expo Osaka 2025 Short link : Post Views: 19
Shafaq News
03-03-2025
- Business
- Shafaq News
Iraqi Oil Committee announces Kurdistan's export estimates to Turkiye
Shafaq News/ On Sunday, the Iraqi parliamentary Oil, Gas, and Natural Resources Committee confirmed that all procedures have been completed for resuming the crude oil exports from the Kurdistan Region through the Turkish port of Ceyhan. The committee revealed that the estimated quantities to be exported will range between 300,000 to 325,000 barrels per day. Ali Shaddad Al-Faris, spokesperson for the committee, told Shafaq News Agency that the federal oil ministry has officially notified the Turkish side of its readiness to resume exports, and is now awaiting Turkish approval to begin the process. This follows a recent amendment to the national budget law, which has now entered into effect. Al-Faris also noted that the Kurdistan Regional Government (KRG) has requested an increase in its share of domestic consumption, which is fixed in the budget. The 2023-2025 federal budget, approved earlier by the Iraqi parliament, set the estimated domestic consumption in the Kurdistan Region at 46,000 barrels per day. However, following the budget amendment, the KRG has demanded an increase in this figure to 110,000 barrels per day, a move that Al-Faris described as 'a violation of the national budget law and the recent amendments passed by the Iraqi parliament.' The spokesperson emphasized that following the latest budget amendments, the KRG is now obligated to deliver its oil share to SOMO, Iraq's state oil marketing company. He further stated that the term "negotiating delegations" – often used by the KRG – is no longer valid, as the legal framework set by the budget amendments must be implemented without deviation. Al-Faris reiterated that the budget law, which was passed by the Iraqi parliament and endorsed by KRG lawmakers, must be adhered to, and no exceptions should be made, calling on Prime Minister Mohammed Shia Al-Sudani and the federal oil ministry to ensure the full implementation of the national budget and its amendments. The spokesperson also pointed out that the KRG has expressed its inability to meet the estimated oil export quantities of 300,000 to 325,000 barrels per day, as outlined in the budget, which could hinder the full application of the law. 'These recurring issues raised by the Kurdistan Regional Government are nothing but obstacles to the implementation of laws passed by the Iraqi parliament,' Al-Faris added. On Sunday, informed sources reported that a KRG delegation had arrived in Baghdad to finalize arrangements for the resumption of oil exports via the Turkish pipeline. According to one source, a meeting was held between the KRG's Ministry of Natural Resources and officials from the Iraqi Ministry of Oil to resolve the remaining issues related to oil exports from the region's fields. A separate source noted that this meeting, originally scheduled for Tuesday, was advanced due to recent developments in the negotiations, though further details were not provided. Meanwhile, the Iraqi Ministry of Oil called on international oil companies operating in the Kurdistan Region, which are under the "Abu Khor" umbrella, to attend a meeting in Baghdad scheduled for Tuesday, March 4, 2025. Last Friday, eight international oil companies operating in the Kurdistan Region announced that they would not resume exports via the Ceyhan port, despite Baghdad's announcement of the imminent resumption. Earlier, Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani confirmed that the resumption of oil exports from the Kurdistan Region through the Turkish port would begin within hours.
