• 12 hours Shell Oil Trading Head Steps Down After 29 Years
  • 16 hours Higher Oil Prices Reduce North American Oil Bankruptcies
  • 18 hours Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 19 hours $1.6 Billion Canadian-US Hydropower Project Approved
  • 21 hours Venezuela Officially In Default
  • 23 hours Iran Prepares To Export LNG To Boost Trade Relations
  • 1 day Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 1 day Saudi Oil Minister: Markets Will Not Rebalance By March
  • 1 day Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 2 days Rosneft Announces Completion Of World’s Longest Well
  • 2 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 2 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 2 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 2 days Santos Admits It Rejected $7.2B Takeover Bid
  • 2 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 2 days Africa’s Richest Woman Fired From Sonangol
  • 3 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 3 days Russian Hackers Target British Energy Industry
  • 3 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 3 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 3 days Lower Oil Prices Benefit European Refiners
  • 3 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 4 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 4 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 4 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 4 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 4 days OPEC To Recruit New Members To Fight Market Imbalance
  • 4 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 4 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 4 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 5 days GE Considers Selling Baker Hughes Assets
  • 5 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 5 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 5 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 5 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 5 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 7 days The Oil Rig Drilling 10 Miles Under The Sea
  • 8 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 8 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 8 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Alt Text

Kingdom Of Fear: Saudi Arabia On Lockdown

Saudi Arabia appears to be…

Alt Text

The War That Would Transform Oil Markets

Tensions between Saudi Arabia and…

Qatar Blockade To Continue As Doha Shrugs Off Ultimatum

Doha

Foreign ministers from Egypt, Saudi Arabia, the United Arab Emirates and Bahrain released statements following a meeting in Cairo on Wednesday, after the latest deadline they had set to Qatar expired on Tuesday night.

The four Arab nations, locked in a diplomatic crisis with Qatar, dismissed Doha’s response to their demands as “not serious” and pledged to continue to keep the Gulf state under political and economic sanctions until it changes its policies. They also “expressed regret with regards to the negative response from Qatar, which showed complacency and non-seriousness to deal with the root of the problem and reconsider their policies and practices.”

(Click to enlarge)

Arab Foreign Ministers meet to discuss the diplomatic situation with Qatar, in Cairo, Egypt.

Speaking to reporters, Egyptian Foreign Minister Sameh Shukri said that Qatar’s response to the four Arab states’ list of demands, which was passed on via intermediary Kuwait on Monday, was “generally negative” and failed to “lay the foundation for Qatar's reversal of the policies it pursues.”

He added that Qatar’s reply "lacked content", and that it was no "longer possible to tolerate Qatari acts." Shukri also accused Qatar of failing “to realize the gravity of the situation,” according to AP.

Separately, the Saudi Foreign Minister Adel bin Ahmed Al Jubeir says the alliance will weigh more measures against Qatar, and reserves the right to take action when appropriate. He also made it clear that “this is not a response to the Kuwait letter” so something more formal may follow as “consultations are ongoing." He also said that the Boycott will continue until Qatar changes policy, adding that it was no surprise that Iran is trying to get closer to Qatar, while expressing hopes that Turkey will remain neutral. Related: Saudi Reshuffle Could Completely Shake Up Oil Markets

In other words, it appears that while nothing firm was decided, “the boycott will continue until Qatar changes policy” according to the Saudi.

The Saudi-led alliances will meet again in Manama, Bahrain to discuss next steps.

Earlier in the day, Qatar's Foreign Minister accused four Arab neighbors of "clear aggression" against his country. Sheikh Mohammed bin Abdulrahman al-Thani said charges cited by Saudi Arabia, Bahrain, the United Arab Emirates and Egypt in cutting diplomatic and transport links a month ago "were clearly designed to create anti-Qatar sentiment in the west".

"Qatar continues to call for dialogue despite the violation of international laws and regulations, despite the separation of 12,000 families, despite the siege that is a clear aggression and an insult to all international treaties, bodies and jurisdictions," he told a meeting at London's Chatham House think-tank.

Qatar “wasn’t built on oppression, fear, censorship, has an independent view on global and regional events,” the official added. Also, the country successfully “mediated in 10 international portfolios in the course of the last 8 years,” without “interfering in the internal affairs of others.”

Qatar remains “open for dialogue, not an ultimatum,” as the country’s authorities believe that “citizens everywhere should have the right to a government that is responsive to their needs,” and their country, despite not being a democracy, caters to these needs. “That’s why Qatar wasn’t alarmed and threatened by the Arab Spring movement [back in 2011],” the Qatari Foreign Minister said.

By Zero Hedge

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News