Saudi Arabia crude exports fall to 5.754mln barrels per day in March
The world's largest oil exporter's crude output for March was at 8.957 million bpd, up from 8.947 million bpd in February.
Saudi refineries' crude throughput was at 2.944 million bpd in March, up 0.323 million bpd from February's 2.621 million bpd, the data showed.
Direct crude burning increased by 100,000 bpd to 383,000 bpd in March.
Saudi Arabia and other members of OPEC provide monthly export figures to JODI, which publishes them on its website.
Earlier this month, OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day.
(Reporting by Brijesh Patel in Bengaluru, Editing by Louise Heavens)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
3 hours ago
- Zawya
London hosts the Gulf-British Arbitration Forum with participation of prominent international experts
Dr. Kamal Al-Hamad, Secretary-General of the Gulf Cooperation Council Commercial Arbitration Centre (GCCCAC), inaugurated the Gulf-British Arbitration Forum held at the Arab-British Chamber of Commerce in the UK capital, London. The forum attracted significant attention, with over 100 distinguished leaders from the Gulf, Arab countries, and the United Kingdom, alongside a number of international legal, judicial, and commercial arbitration experts. The forum addressed several key topics, most notably international commercial arbitration, and introduced the upcoming Second Gulf Law and Arbitration Week, scheduled to be held in the Kingdom of Bahrain in January next year. The event served as a platform for knowledge exchange and the strengthening of legal cooperation among relevant institutions. Mr. Abdullah Al-Omair, Director General of International Agreements at the Saudi Ministry of Investment, delivered a keynote presentation highlighting the legal environment for investment in Saudi Arabia in light of the Ministry's strategies and Vision 2030. The audience praised the Kingdom's achievements in attracting foreign investment and fostering investor confidence. A delegation from the Supreme Judiciary Council of Qatar also participated, presenting the status of commercial courts and investment-related judicial structures in Qatar, with a particular focus on initiatives supporting and empowering women in the legal sector as part of the country's judicial system. On the sidelines of the forum, Dr. Kamal Al-Hamad held a series of coordination meetings with several UK arbitration institutions, accompanied by members of the GCCCAC Advisory Committee. These meetings included discussions on exchanging rosters of arbitrators and experts, as well as exploring cooperation mechanisms for training and certifying legal arbitrators and specialists. These visits are part of a broader series of international Gulf forums organized by the GCCCAC, aimed at enhancing engagement and experience exchange with leading legal and arbitration bodies worldwide. The series began in the United States in May, followed by the UK forum, and will continue in Paris this September, where meetings are scheduled with the International Chamber of Commerce (ICC) and Sorbonne University, under the patronage of the Arab-French Chamber of Commerce. The forum concluded with a special tribute to Queen Mary University of London, one of the UK's prestigious academic institutions. Dr. Peter Cameron, Professor of Law at the university, delivered a speech discussing specialized academic programs in legal training and the importance of preparing legal professionals to meet the evolving demands of international arbitration. It is worth noting that the Gulf Cooperation Council Commercial Arbitration Centre is an international regional arbitration body with legal personality, established by a resolution of the GCC heads of state during the 14th GCC Summit in Riyadh in 1993. The centre's operational framework was approved by all GCC Council of Ministers, with the aim of promoting arbitration as an independent system for resolving commercial and investment disputes. The Centre also works to train and certify arbitrators, experts, and case managers across various specialties through high-quality accreditation programs, thereby fostering a culture of justice and fairness in arbitration across the Gulf region.
Zawya
3 hours ago
- Zawya
The Professional Diploma Program in Endowment Leadership celebrates the graduation of its first cohort
Muscat: In a groundbreaking initiative to advance the future strategic vision for leading and developing the Waqf sector and establishing a comprehensive, sustainable Islamic financial model, the Professional Diploma in Waqf Leadership proudly celebrated the graduation of its inaugural cohort. This milestone marks the fruition of a strategic alliance between Bank Nizwa, Tawafuq Financial Consultancy, and the College of Sharia Sciences, dedicated to cultivating national human capital specialized in Waqf leadership. The graduation ceremony was held under the esteemed patronage of His Excellency Dr. Mohammed bin Said bin Khalfan Al Maamari, Minister of Endowments and Religious Affairs, and attended by senior officials, distinguished leaders from the Waqf and banking sectors, and representatives from the partnering institutions. Since its launch earlier this year, the Professional Diploma has underscored the critical importance of harmonizing rigorous academic research with specialized practical application in the endowment sector. Its mission is to equip a new generation of leaders with the expertise and vision required to spearhead this pivotal sector. Developed through a robust strategic partnership—Bank Nizwa serving as the banking partner, Tawafuq as the executive partner specializing in Islamic financial consultancy, and the College of Sharia Sciences as the knowledge partner—the program delivers a comprehensive, tailored educational experience meticulously designed to address the unique characteristics and operational demands of the Waqf sector. Under the expert guidance of Dr. Mohammed Fakhri Suwaileh, Islamic Banking and Endowments Advisor and Sr. Manger of Waqf Investment at Bank Nizwa, participants engaged in an intensive curriculum covering Islamic jurisprudence, legal frameworks, corporate governance, risk management, regulatory compliance, performance metrics, contemporary Waqf investment strategies, internal and Sharia audit, and Waqf accounting. By embracing an innovative pedagogical approach that transcends conventional methodologies, the diploma program has solidified a management paradigm focused on maximizing the developmental and investment impact of endowments. Graduates have been empowered with the essential tools, insights, and competencies to elevate operational efficiency, uphold transparency standards, and ensure the long-term sustainability of the sector. Reflecting on the occasion, Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, stated, 'This milestone underscores our firm commitment to partnering with like-minded institutions that share our vision of advancing Islamic finance through the development of highly skilled and specialized professionals. Initiatives of this nature are essential in cultivating individuals with a profound understanding of Waqf systems, alongside the analytical and managerial competencies needed to thrive in today's evolving institutional landscape. This program embodies our belief in structured, purposeful learning as a catalyst for sustainable transformation and meaningful impact within the sector. We are proud to have partnered with Tawafuq and the College of Sharia Sciences in empowering the first cohort of graduates from the Waqf Leadership Diploma Program, and we look forward to its continued growth and success in shaping influential leaders who will drive progress across the Waqf sector.' The graduating batch comprised professionals from a broad spectrum of institutions, including representatives from the Ministry of Endowments and Religious Affairs, endowment organizations, Islamic banks, and academic and legal fields. This diversity of professional backgrounds significantly enriched the learning experience and fostered a culture of engagement and knowledge-sharing — reflecting a shared commitment to advancing inclusive development within the Waqf sector and the broader financial ecosystem. The program provided exceptional opportunities for knowledge exchange and institutional capacity-building, aimed at enhancing performance efficiency and strengthening the infrastructure that supports the Waqf sector in the Sultanate of Oman. Initiatives such as the Professional Diploma Program for Waqf Leadership reflect the shared commitment of Bank Nizwa, Tawafuq, and the College of Sharia Sciences to advancing Waqf leadership and enhancing national talent. These efforts aim to elevate the role of Waqf in sustainable development and community service by preparing a new generation of leaders capable of driving the sector toward a prosperous future.
Zawya
3 hours ago
- Zawya
QIB expands its mobile app features to enhance customer experience
Doha, Qatar – Qatar Islamic Bank (QIB), Qatar's leading digital bank, has introduced a series of new features to its award-winning Mobile App and the QIB Lite App, further strengthening its digital offering and enhancing access to essential financial services for all customers. QIB has enhanced its Instant Credit Card feature by extending it to all eligible customers without requiring a salary transfer to QIB. The feature enables non-salaried customers to instantly apply for and receive a Credit Card via the QIB Mobile App, backed by a lien—a temporary hold—on a deposit or account balance. This update simplifies access to credit and offers customers greater flexibility and control over their finances. Additionally, QIB has expanded its Instant Cash Pickup service to include Pakistan through direct API integration with Habib Bank Limited (HBL) via both QIB Mobile App and QIB Lite App. The Cash Pickup service enables QIB customers to send money securely to beneficiaries in Pakistan, who can collect the cash instantly from any participating HBL branch. The new corridor builds on the existing Cash Pickup network covering Jordan, Egypt, and the Philippines, offering valuable remittance options to Qatar's expatriate communities. Among the newly introduced services, the Salary Advance feature is now available for eligible low-income earners (WPS) through the QIB Mobile App as well. Customers can instantly access up to 80% of their net salary in just a few steps. The service offers a one-time settlement in the following month and a fixed monthly profit rate of only 1%, making it a simple, fast, and affordable solution for customers needing short-term liquidity. The service is now available on both QIB Mobile App and QIB Lite App. Commenting on the launch, Mr. D. Anand, QIB's General Manager – Personal Banking Group, said: 'These new features reflect our ongoing efforts to build a more inclusive and responsive digital banking ecosystem. By listening to our customers and understanding their needs, we are continuously delivering solutions that improve financial access, convenience, and control. Whether it is helping customers bridge short-term expenses, access credit instantly, or support families abroad, QIB remains committed to customer-centric innovation. The continuous releases of new features is a testament to our promise to always expect more from QIB.' With over 320 features and an enhanced user interface, the QIB Mobile App has become the preferred banking channel for QIB customers. The app offers customers full control over their accounts, cards, financing, and transactions, and enables them to fulfil all their banking requirements remotely. Customers can also open new accounts, apply for financing or credit cards, and book deposits instantly and securely. Available on the App Store, Google Play, and Huawei AppGallery, customers can download the QIB Mobile App and self-register using their QID and PIN. For more information, please visit
