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Kuwait to Drill in Durra Field before Iran Border Demarcation

Kuwaiti Oil Minister Saad Al Barrak. (KUNA)
Kuwaiti Oil Minister Saad Al Barrak. (KUNA)
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Kuwait to Drill in Durra Field before Iran Border Demarcation

Kuwaiti Oil Minister Saad Al Barrak. (KUNA)
Kuwaiti Oil Minister Saad Al Barrak. (KUNA)

Kuwait’s Oil Minister Saad Al Barrak told Sky News Arabia on Thursday his country will start drilling and begin production at the Durra gas field without waiting for border demarcation with Iran.

On July 3, Al Barrak, stated that Kuwait categorically rejects the Iranian claims and actions regarding the Durra oil field in the Gulf.

According to the Kuwaiti News Agency, Al Barrak emphasized that the Durra oil field boasts natural wealth that belongs to Kuwait and Saudi Arabia, and no other party has any rights to it until the maritime boundaries are demarcated.

“We were surprised by the Iranian claims and intentions regarding the Durra oil field, which contradict the most basic principles of international relations,” he stressed.

The Kuwaiti Foreign Ministry had declared that the maritime region containing the Durra oil field is situated within the territorial waters of Kuwait.

The natural resources in this area are jointly shared between Kuwait and Saudi Arabia, and they alone possess exclusive rights to the natural wealth in Durra.

On July 4, a reliable source at the Saudi Ministry of Foreign Affairs reaffirmed in a statement to the Saudi Press Agency that the ownership of natural resources in the demarcated submerged area, including the entire Durra oil field, is a shared solely between the Kingdom and Kuwait.

Both countries have full sovereign rights to exploit the resources in that area.

Saudi Arabia reiterated its previous calls to Iran to commence negotiations on demarcating the eastern boundary of the demarcated submerged area between the Kingdom and Kuwait as a single negotiating party, according to international law.

On March 21, Saudi Arabia and Kuwait signed an agreement for the development of the Durra field to produce one billion standard cubic feet of natural gas and 84,000 barrels of condensates daily, which will be shared between the two neighbors.

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China Denies It Is Currently in Talks with Washington over Tariffs

A general view shows container ships at a terminal with Hong Kong's financial center, including IFC 2, in the background in Hong Kong, China, April 23, 2025. REUTERS/Tyrone Siu 
A general view shows container ships at a terminal with Hong Kong's financial center, including IFC 2, in the background in Hong Kong, China, April 23, 2025. REUTERS/Tyrone Siu 
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China Denies It Is Currently in Talks with Washington over Tariffs

A general view shows container ships at a terminal with Hong Kong's financial center, including IFC 2, in the background in Hong Kong, China, April 23, 2025. REUTERS/Tyrone Siu 
A general view shows container ships at a terminal with Hong Kong's financial center, including IFC 2, in the background in Hong Kong, China, April 23, 2025. REUTERS/Tyrone Siu 

Beijing on Thursday denied it has held trade talks with Washington despite repeated comments from the US government suggesting there had been engagement.

“There is currently no economic and trade negotiations between China and the United States,” the Chinese commerce ministry’s spokesperson He Yadong said.

Yadong added, “Any claims about the progress of China-US trade negotiations are groundless as trying to catch the wind and have no factual basis.”

US President Donald Trump had suggested on Tuesday that the final tariff rate on China's exports would come down “substantially” from the current 145%.

Trump told reporters that Washington is going to be “very nice” to Beijing. “145% is very high and it won't be that high,” Trump said in a question-and-answer session with reporters in the Oval Office.

Earlier in the day, Treasury Secretary Scott Bessent told a private investor conference put on by JPMorgan Chase that he believed the current situation between China and the US would not last. He told the gathered investors to expect a “de-escalation.”

On Wednesday, Trump said that any reduction in tariffs placed on China will depend on the actions of its leaders.

“It depends on China how soon the tariffs can come down,” he said speaking in the Oval Office.

Trump then confirmed that he was in direct contact with China and President Xi “every day” and that he hopes the two sides would reach a deal.

Meanwhile, Trump’s top economic adviser said he is “optimistic” that a trade deal can be cut with China.

“I’m optimistic that we will have a deal with China, and I’m optimistic that we will be able to take the temperature down a bit and provide both economies and the world breathing space,” Stephen Miran, chairman of the Council of Economic Advisers, said at Semafor’s World Economy Summit.

On Wednesday, Chinese President Xi Jinping said that tariff and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral trading system and impact the world economic order.

Also, Beijing clarified it has not held trade talks with Washington despite repeated comments from the US government suggesting there had been engagement.

Foreign Ministry spokesperson Guo Jiakun said, “China and the United States have not conducted consultations or negotiations on tariffs, let alone reached an agreement,” calling reports of such information “false news.”

Meanwhile, in Washington DC, China's central bank Governor Pan Gongsheng said China will firmly support free trade rules and the multilateral trading system, in remarks made at a G20 meeting on the sidelines of the IMF-World Bank Spring Meetings.