Saudi Arabia cuts oil prices for Asia amid China lockdowns

News Network
May 8, 2022

Riyadh, May 8: Saudi Arabia cut oil prices for buyers in Asia as coronavirus lockdowns in China weigh on demand, countering uncertainty around Russia’s supplies as the Ukraine war drags on.

Saudi Aramco is lowering prices for the first time in four months. The state-controlled company dropped its key Arab Light crude grade for next month’s shipments to Asia to $4.40 a barrel above the benchmark it uses, from $9.35 in May. That’s in line with a Bloomberg survey of refiners and traders from late April that forecast a $5 decrease.

Aramco also lowered all grades for the north west Europe region and almost all for the Mediterranean. Prices for US customers were kept unchanged from May.

Saudi Arabia raised its crude to record levels in the past two months after prices surged above $100 a barrel when Russia invaded Ukraine. Russian exports have already fallen and may drop further as the European Union moves closer to formally sanctioning energy supplies from the country.

While the war has tightened the global oil market, Beijing’s Covid Zero strategy has lead to China’s largest demand shock since the early days of the pandemic. Consumption of gasoline, diesel and aviation fuel last month was expected to slide 20% from a year earlier, Bloomberg reported on April 22.

China’s Strategy

Chinese Premier Li Keqiang warned in a statement on Saturday of a “complicated and grave” employment situation as the government tries to contain Covid. China’s leaders doubled down on their strategy last week, warning against any attempts to question the approach even as economic activity contracts amid factory closings and supply-chain disruptions.

Still, the world’s biggest independent oil trader said on Sunday that China’s measures were working as far as stopping the spread of the virus is concerned.

“It’s obviously a terrible situation for citizens of Shanghai and entire parts of Beijing have been told to work from home,” Mike Muller, Vitol Group’s head of Asia, said Sunday on a podcast produced by Dubai-based Gulf Intelligence. “But it hasn’t spiraled or snowballed into something really, really dramatic. Therefore people have not worsened their demand-loss projections from China.”

Aramco’s decision comes days after OPEC+, led by Saudi Arabia and Russia, agreed to continue increasing crude output only gradually, adding 432,000 barrels a day to the market in June. The 23-nation group has struggled to meet even that modest target.

Saudi Arabia sends more than 60% of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers.

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News Network
December 4,2025

Mangaluru: Chaos erupted at Mangaluru International Airport (MIA) after IndiGo flight 6E 5150, bound for Mumbai, was repeatedly delayed and ultimately cancelled, leaving around 100 passengers stranded overnight. The incident highlights the ongoing country-wide operational disruptions affecting the airline, largely due to the implementation of new Flight Duty Time Limitations (FDTL) norms for crew.

The flight was initially scheduled for 9:25 PM on Tuesday but was first postponed to 11:40 PM, then midnight, before being cancelled around 3:00 AM. Passengers expressed frustration over last-minute communication and the lack of clarity, with elderly and ailing travellers particularly affected. “Though the airline arranged food, there was no proper communication, leaving us confused,” said one family member.

An IndiGo executive at MIA cited the FDTL rules, designed to prevent pilot fatigue by limiting crew working hours, as the cause of the cancellation. While alternative arrangements, including hotel stays, were offered, about 100 passengers chose to remain at the airport, creating tension. A replacement flight was arranged but also faced delays due to the same constraints, finally departing for Mumbai around 1:45 PM on Wednesday. Passengers either flew, requested refunds, or postponed their travel.

The Mangaluru delay is part of a broader crisis for IndiGo. The airline has been forced to make “calibrated schedule adjustments”—a euphemism for widespread cancellations and delays—after stricter FDTL norms came into effect on November 1.

While an IndiGo spokesperson acknowledged unavoidable flight disruptions due to technology issues, operational requirements, and the updated crew rostering rules, the DGCA has intervened, summoning senior airline officials to explain the chaos and outline corrective measures.

The ripple effect has been felt across the country, with major hubs like Bengaluru and Mumbai reporting numerous cancellations. The Mangaluru incident underscores the systemic operational strain currently confronting India’s largest carrier, leaving passengers nationwide grappling with uncertainty and delays.

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News Network
December 2,2025

Puttur: The long-cherished dream of a government medical college in Puttur has moved a decisive step closer to reality, with the Karnataka State Finance Department granting its official approval for the construction of a new 300-bed hospital.

Puttur MLA Ashok Kumar Rai announced the crucial development to reporters on Monday, confirming that the official communication from the finance department was issued on November 27. This 300-bed facility is intended to be the cornerstone for the establishment of the government medical college, a project announced in the state budget.

Fast-Track Implementation

The MLA outlined an aggressive timeline for the project:

•    A Detailed Project Report (DPR) for the hospital is expected to be ready within 45 days.

•    The tender process for the construction will be completed within two months.

Following the completion of the tender process, Chief Minister Siddaramaiah is scheduled to lay the foundation stone for the project.

"Setting up a medical college in Puttur is a historical decision by the Congress government in Karnataka," Rai stated. The project has an estimated budget allocation of Rs 1,000 crore for the medical college.

Focus on Medical Education Department

The MLA highlighted a key strategic move: requesting the government to implement the hospital construction through the Medical Education Department instead of the Health and Family Welfare Department. This is intended to streamline the entire process of establishing the full medical college, ensuring the facilities—including labs, operation theatres, and other necessary infrastructure—adhere to the strict guidelines set by the Medical Council of India (MCI). The proposed site for the project is in Bannur.

Rai also took the opportunity to address political criticism, stating that the government has fulfilled its promise despite "apprehensions" and "mocking and criticising" from opposition parties who had failed to take similar initiatives when they were in power. "Chief Minister Siddaramaiah has kept his word," he added.

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News Network
November 21,2025

israel.jpg

Local authorities say the Israeli military has expanded the so-called “yellow line” truce demarcation in Gaza City and repositioned its forces deeper into the territory in violation of a ceasefire agreement that came into force on October 10, besieging dozens of Palestinian families.

Gaza’s Government Media Office announced in a statement on Thursday that Israeli forces widened the boundary by shifting the markers, and advanced roughly 300 meters (984 feet) into the neighborhoods of Ash-Shaaf, An-Nazzaz and Baghdad Street.

The move pushed further into civilian areas, trapping families who were unable to flee as tanks rolled forward, it added.

“The fate of many of these families remains unknown amidst the shelling that targeted the area,” the office said, adding that the expansion of the yellow line shows a “blatant disregard” for the ceasefire deal.

On Friday, sources said the Israeli military carried out continued air and artillery strikes inside the so-called “yellow line” east of Khan Younis in the southern Gaza Strip.

According to the reports, Israeli warplanes and tanks targeted areas within the zone. One Palestinian was reported killed and several others wounded in the strikes, the sources said.

The fresh aggression came only a day after 25 Palestinians were killed in Israeli airstrikes on Gaza City and Khan Younis on Wednesday.

The media office reported that Israel has consistently violated the truce deal since its implementation last month, with near-daily attacks by air, artillery and direct shootings.

The office said over 400 violations have been documented. These breaches have resulted in the deaths of more than 300 Palestinians and left hundreds injured.

The Government Media Office in Gaza urged the guarantors of the ceasefire — the US, Egypt, Qatar and Turkey — to take swift action to halt the ongoing violations and facilitate the delivery of food, shelter materials, medical aid, and infrastructure equipment.

The so-called “yellow line,” set out in the agreement between Israel and Hamas resistance movement, refers to a non-physical partition where the Israeli military repositioned itself when the truce deal took effect.

It has allowed Israel, which routinely fires at Palestinians who approach the line, to retain control over more than half of the Gaza Strip.

International bodies, including the UN Independent International Commission of Inquiry, the International Association of Genocide Scholars, Amnesty International, Human Rights Watch, B’Tselem, and other rights groups, have concluded that the Israeli war on Gaza amounts to genocide.

In the attacks in Gaza since October 2023, Israel has killed at least 69,546 people and injured 170,833 others, leveling large swaths of the territory and displacing almost all of the population. 

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