SABIC Hosts First Boao Forum for Asia in Riyadh on Monday

Saudi capital, Riyadh (SPA)
Saudi capital, Riyadh (SPA)
TT

SABIC Hosts First Boao Forum for Asia in Riyadh on Monday

Saudi capital, Riyadh (SPA)
Saudi capital, Riyadh (SPA)

The Saudi Basic Industries Corporation (SABIC) will host in Riyadh on Monday the first Boao Forum for Asia conference under the theme “Energy Transformation for a Sustainable Future” to boost international cooperation and increase integration among various sectors.
Building on its 16-year strategic partnership with the forum, SABIC remains committed to enhancing cooperation among companies and countries linked to product value chains, a statement from the corporation said.
In addition to supporting the annual conferences, SABIC has also participated in several related conferences, including the “Science, Technology, and Innovation Forum” and the “Global Economic Development and Security Forum” under the Boao Forum for Asia, where SABIC shared its rich expertise in innovation and sustainability.
SABIC has enhanced its commitment to the Chinese market in recent years through the forum's leading role in promoting regional cooperation and sustainable and comprehensive growth.
It has collaborated with local partners to expand its presence since its entry into the country in the 1980s.
SABIC is dedicated to supporting high-quality economic development in China by offering more innovative solutions covering the entire value chain.
It has increased its activity in renewable energy applications in China to facilitate its transition towards sustainable development through an innovation-based strategy, which also forms a significant part of the company's global roadmap towards carbon neutrality.
As a leader in the chemical industry, SABIC seeks to support the transition in the energy sector towards a sustainable future by enhancing cooperation and innovation.
It is worth noting that China continues to adopt further economic reforms and enhance the Sino-Saudi strategic partnership, and SABIC continues to benefit from the Boao Forum for Asia as a prominent platform to enhance its participation in various industries and contribute to the strategic integration between China's Belt and Road Initiative and Saudi Vision 2030.

 



Iraq Says Iran Used Forged Iraqi Documents on Oil Tankers, Tehran Denies

FILE PHOTO: A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. REUTERS/Raheb Homavandi//File Photo
FILE PHOTO: A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. REUTERS/Raheb Homavandi//File Photo
TT

Iraq Says Iran Used Forged Iraqi Documents on Oil Tankers, Tehran Denies

FILE PHOTO: A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. REUTERS/Raheb Homavandi//File Photo
FILE PHOTO: A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. REUTERS/Raheb Homavandi//File Photo

Iraq's oil minister Hayan Abdel-Ghani has said told state television that Iranian oil tankers stopped by US forces in the Gulf were using forged Iraqi documents.

US President Donald Trump's administration has restored his earlier "maximum pressure" policy on Iran, reviving a policy that seeks to isolate the country from the global economy and eliminate its oil export revenue in order to slow Tehran's development of a nuclear weapon.

"We received some verbal inquiries about oil tankers being detained in the Gulf by US naval forces carrying Iraqi shipping manifests," Abdel-Ghani said on state television late on Sunday, adding there had been no formal written communication.

"It turned out that these tankers were Iranian ... and were using forged Iraqi documents. We explained this to the relevant authorities with complete transparency and they also confirmed this."

Iran's oil ministry on Monday denied that Tehran had used forged official documents and said allegations that they had done so came from US officials, the ministry's Shana news agency reported.

"It's obvious that these allegations by US officials fold into the illegal... pressure on the nation of Iran and have no basis or credibility," Shana said.

Iran views neighbor and ally Iraq as vital to keeping its economy afloat while under sanctions. But Baghdad, a partner to both Washington and Tehran, is wary of being caught in the crosshairs of Trump's policy to squeeze Iran, sources have said.

Reuters reported in December that a sophisticated fuel oil smuggling network that experts believe generates at least $1 billion a year for Iran and its proxies has flourished in Iraq in the past few years, including by using forged documentation.

Abdel-Ghani said state marketer SOMO sold crude exclusively to companies that own refineries and does not supply trading firms.

"SOMO operates with full transparency and has committed no wrongdoing in the oil export process," he said.