China refinery output rises to record level

China's oil refinery throughput in August rose to a record, as processors in the world's second-largest fossil oil consumer kept run rates high to meet summer travel demand and capitalize on strengthening export margins.

Total refinery throughput was a record 64.69 million metric tons in August, data from the National Bureau of Statistics (NBS) showed, up 19.6% from a year ago.

That is the equivalent of 15.23 million barrels per day (bpd), also a record on a daily basis and up from the 12.64 million bpd processed a year earlier when extensive COVID pandemic restrictions and weak domestic fuel demand led refiners to cut runs.

August throughput was also up from July's 14.87 million bpd.

Year-to-date throughput gained 11.9% from a year earlier to 491.4 million tons, or 14.76 million bpd.

Domestic demand for gasoline and kerosene over the August vacation season was a key driver of domestic fuel consumption, with travel levels likely to be have been further boosted by revenge travel after the pandemic, analysts said ahead of the data.

Domestic airline capacity by available seats was around 77.5 million in August, up around 17% from pre-pandemic levels, according to data from aviation analytics firm OAG.

G20 decisions, what next for Pakistan?

The G20 conference has come to an end in Delhi, where a lot happened which can become a permanent topic separately.

For example, the Indian media mentioned a statement by the Prime Minister of Italy regarding BRI, the Prime Minister of Canada spoke about Khalistan while standing in the Indian capital and when the rights of Sikh in Canada holding a referendum on Khalistan.

Muhammad Mehdi, Chairman of the Institute of International Relations and Media Research has discussed the concept of the Global South that President Biden arrived in Delhi with this concept, and the leadership of the Global South will be handed over to India according to Washington’s vision. 

According to Mehdi, for Pakistan any situation that affects the region is extremely important because the country would be affected whether it likes it or not. The Global South's vision is to prepare India to compete with China's BRI project.

India does not have enough economic size to be able to do this on its own, so its economic needs will be fulfilled by the United States as much as it needs compared to China.

The next and very important question is, whether the US economy under the debt of US$7.6 trillion has enough power to meet these needs or not? In order to promote the concept of the Global South, an MoU was signed during the G20 summit in India.

This economic corridor project will connect ports and rail links to the Middle East, Israel and Europe. The project is being named as India Middle East Europe Economic Corridor (IMEEEC).

It includes United States, India, United Arab Emirates, Saudi Arabia and the European Union. The goal of this project is to connect India's ports with the United Arab Emirates, Saudi Arabia by developing a large-scale rail network and then get access to Israel and Europe from there. And apart from the Suez Canal, another route should be developed while China's BRI project should also be made a response to it.

Discussions on this project started in 2021 at a Business Forum between the United States, India, UAE and Israel, and later Saudi Arabia also joined these discussions.

When the Abraham Accords was being signed between certain Arab countries and Israel under the patronage of the United States, Mehdi had said that it should not be seen only in the context of the Arab countries and Israel, but it will have far-reaching consequences on the region where Pakistan is located and that has started happening.

Saudi Arabia does not recognize Israel, but it has recognized Israel's position in this agreement. Now, what does the US want to achieve by including the Arab countries in it? It is clear that through the BRI project, China's footprints are clearly visible on the Arab land.  

This is not only limited to economic matters, but by standing with Saudi Arabia and Iran, China has given a clear message that now its political position has also become strong in this region and the UAE and Saudi Arabia have also joined BRICS, which also includes India, but its souls are China and Russia.

According to Mehdi, United States cannot afford such a situation. When the Ottoman Empire disintegrated as a result of the First World War, the British shadow remained over the Arab region from that time until the end of the Second World War, and then later the United States replaced the United Kingdom and enjoyed its position solely.

But China's recent successes have put many question marks on the presence of the US supremacy in this region and its future, and the supwer is taking steps to maintain its supremacy by presenting the concept of the Global South. And in order to achieve this goal, India is being encouraged.

Narendra Modi will face polls and in order to win he needs to put his nation behind a truck light similar to what he has achieved by holding this conference and promoting this economic corridor.

This is called a political slogan because there is a very strong belief that the current US economy, which will have a debt of US7.6 trillion by the end of year 2024, is not strong enough to support this project. 

Regarding the same thing that happened to the New Silk route project announced by Secretary of State Hillary Clinton during the Obama era, an economic route would be made from Afghanistan, but then it could never be implemented.

The real goal of the current plan seems to be to confuse the Arab world with the fact that the United States is coming down a new path and to make them think about how far they should go with China and how much should be carried forward.

If the US succeeds in getting the Arab countries into this mess, it will be a success. Because these Arab countries are concerned about their internal and international security, and they still depend on the largest suppliers of arms and military might.

Muhammad Mehdi is the Chairman of the Institute of International Relations and Media Research

 

US-Iran prisoner swap deal attracts criticism

Secretary of State Antony Blinken signed off on a blanket waiver last week that put the final stages of the deal in motion. The waiver allows for US$6 billion of frozen Iranian funds in South Korea to move to a bank in Qatar.

In return, Iran will release five US prisoners who have already been moved to house arrest in Tehran. The US is also releasing five Iranian prisoners as part of the deal.

The Biden administration has stressed that the unfrozen funds will only be used for humanitarian reasons and that Qatar will monitor the money.

But Iranian President Ebrahim Raisi said Iran will spend the released funds wherever we need it.

"This money belongs to the Iranian people, the Iranian government, so the Islamic Republic of Iran will decide what to do with this money,” he told NBC News.

Since the prisoners in Iran were moved to house arrest last month, Republicans have raised numerous concerns about the deal.

Senator Tom Cotton said the US was paying ransom to the world's state sponsor of terrorism, calling it shameful.

On Truth Social, former President Trump called Biden a fool and said the unfrozen funds will be used for terrorism all over the Middle East, and, indeed, the World.

Senate Foreign Relations Committee Chairman Bob Menendez also expressed concerns about encouraging adversarial nations to take more hostages in the future.

Adrienne Watson, a White House National Security council spokesperson, said the administration is working to release wrongfully held Americans and the deal remains a sensitive and ongoing process. 

 

 

Iran launches another shipping line to India

The Islamic Republic of Iran Shipping Lines (IRISL) has launched a direct container shipping line from Shahid Beheshti Port in southeastern Chabahar to India’s Nhava Sheva Port.

The direct container line from Chabahar Port to Nhava Sheva, with a transit time of five days and a very competitive price, is unique in its kind and is expected to have a significant impact on the development of trade and strengthening the regional and extra-regional position of Chabahar Port.

IRISL had previously launched similar container shipping lines from Shahid Beheshti Port of Chabahar to the main ports of China with competitive prices and a transit time of 12 days, which increased the container activity of Chabahar Port by five times.

Iran and India had previously launched shipping lines between Chabahar and the Indian ports of Mumbai, and Mundra.

The first shipping route between the two countries was put into operation in 2017 between Iran’s Chabahar port and Mumbai.

In January 2019, Iran and India inaugurated the second direct shipping route which passes through Mumbai, Mundra, Kandla, Chabahar, and finally Bandar Abbas in southern Iran.

India is using the mentioned shipping routes to transit goods to Afghanistan and Persian Gulf nations as well as the countries in Central Asia.

Through Chabahar Port India can bypass Pakistan and transport goods to Afghanistan and Central Asia, while Afghanistan can get linked to India via sea.

Iran has awarded India the project for installing and operating modern loading and unloading equipment including mobile harbor cranes in Shahid Beheshti Port in Chabahar.

The strategic Chabahar Port in southeastern Iran is the only ocean port on the Makran coast and it has a special place in the country's economic affairs.

Back in September 2021, Indian Prime Minister Narendra Modi had called on Central Asian countries to benefit from Chabahar Port capacities for expanding their trade in the region.

 

Nikki Haley views China an enemy

According to Saudi Gazette, Nikki Haley, the former South Carolina governor and 2024 Republican presidential contender, said that she views China as an enemy in a potential preview of the hardline approach she would take if elected president.

“China’s been practically preparing for war with us for years,” Haley told CNN’s Jake Tapper on “State of the Union” Sunday. “Yes, I view China as an enemy.”

United States, the former United Nations ambassador said, needs to make sure that we’re serious about China and they know that we’re serious about them — not going and being nice to them and thinking that they’re going to change.

Her comments come while President Joe Biden is in Vietnam trying to secure stronger diplomatic, military and economic ties with a network of allies and partners in response to China’s increasingly aggressive military and economic posture.

On a separate track, the Biden administration has also pursued more stable ties and improved communication with Beijing over the last year, with a series of top Cabinet secretaries making the trip to China’s capital in just the last few months.

“How much more has to happen for Biden to realize you don’t send Cabinet members over to China to appease them; you start getting serious with China and say, We’re not going to put up with it,” Haley said Sunday.

“They keep sending different Cabinet officials over, Jake, and it’s embarrassing,” she added.

Detailing what her own approach would look like, Haley stressed the importance of cutting off China’s access to US oil, combating Chinese infiltration in American universities, and ending all normal trade relations until the flow of fentanyl to the US is stopped.

“And then we’re going to build up our military, because China now has the strongest naval fleet in the world,” Haley said. 

Modi passes G20 gavel to Lula

Indian Prime Minister Narendra Modi called an end on Sunday to the G20 Summit in New Delhi by passing on a ceremonial gavel to Brazil, which will take the bloc’s presidency.

“I want to congratulate Brazil’s president and my friend Lula da Silva, and hand over the presidency’s gavel to him,” Modi said.

Modi congratulated Lula, while handing him over the presidency of G20 after the closing session of the G20 Summit 2023 at the Bharat Mandapam in New Delhi

Brazil officially will take over the mantle of the presidency of the elite grouping on December 01, 2023. Speaking on the occasion, Lula congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies.

Lula also listed social inclusion, the fight against hunger, energy transition and sustainable development as G20 priorities.

He said the UN Security Council needs new developing countries as permanent, non-permanent members to regain political strength.

“We want greater representation for emerging countries at the World Bank and the IMF,” he said.

“Brazilian presidency of the G20 has three priorities — first, social inclusion and fight against hunger. Second, energy transition and sustainable development in its three aspects... Third, the reform of global governance institutions.

“All these priorities are part of the Brazilian presidency motto which says ‘building a fair world and a sustainable planet’. Two task forces will be created — global alliance against hunger and poverty and the global mobilization against climate change.”

Lula said on Saturday that Russian leader Vladimir Putin would not be arrested in Brazil if he attends the Group of 20 meeting in Rio de Janeiro next year.

Interviewed on the sidelines of the G20 meeting in Delhi by news show Firstpost, Lula said Putin would be invited to next year’s event, adding that he himself planned to attend a BRICS bloc of developing nations meeting due in Russia before the Rio meeting.

“I believe that Putin can go easily to Brazil,” Lula said. “What I can say to you is that if I’m president of Brazil, and he comes to Brazil, there’s no way he will be arrested.”

On the occasion, Modi proposed to hold a virtual session of G20 at the end of November this year.

“In the last two days, you have put forward your views, given suggestions and a number of proposals have been put forward. It is our responsibility that the suggestions that have come forth are closely looked upon as to how they can be speeded up,” Modi said.

“It is my proposal that we hold another session of the G20 virtually in November-end. In that session, we can review the issues that have been agreed upon during this summit. Our teams will share the details of it with all of view. I hope all of you will join this (session),” he said.

“With this, I declare the G20 summit as closed,” Modi said. 

Saudi Crown Prince announces economic corridor linking India, Middle East and Europe

According to Saudi Gazette, Saudi Crown Prince and Prime Minister Mohammed Bin Salman announced the signing of a memorandum of understanding (MoU) for an economic corridor project connecting India with the Middle East and Europe.

The project aims to enhance economic connectivity, develop and upgrade infrastructure, and boost trade between the involved parties.

Speaking at the occasion of the launch of the corridor on the sidelines of the G20 Leaders' Summit in Delhi on Saturday, the Crown Prince said, “I am pleased today that we are gathered in this friendly country to sign an MoU for an economic corridor project connecting India with the Middle East and Europe.”

“This project is the culmination of our joint efforts over the past few months.

“It is built on principles that serve the common interests of our countries by enhancing economic connectivity and positively impacting our partners in other countries and the global economy as a whole.”

He added, “This project will contribute to the development and upgrading of infrastructure, including railways, port connections, and increased flow of goods and services, thus enhancing trade between the parties involved.

“It will also extend pipelines for the export and import of electricity and hydrogen to enhance global energy supply security, in addition to high-efficiency, reliable cross-border data transmission cables.”

The Crown Prince highlighted that the MoU also supports clean energy development efforts and will create new, high-quality employment opportunities along the corridors for all parties.

"To achieve what we have agreed upon in this memorandum, it requires the continuation of our collective efforts and the immediate commencement of developing the necessary mechanisms for its implementation within the agreed-upon timeframe," he said.

He also expressed profound gratitude to all those who worked together to take these foundational steps towards establishing this significant economic corridor.

Indian Prime Minister Narendra Modi announced the launch of the India-Middle East-Europe connectivity corridor, which is the first of its kind initiative on cooperation on connectivity and infrastructure involving India, UAE, Saudi Arabia, EU, France, Italy, Germany, and the United States.

The governments of Saudi Arabia and United States announced that they had signed a memorandum of understanding (MoU) between the two countries. The bilateral MoU provides a framework for developing a protocol for establishing intercontinental green transit corridors through the Kingdom to connect the continent of Asia with the continent of Europe.

This project aims to facilitate the transit of renewable electricity and clean hydrogen via transmission cables and pipelines as well as constructing rail linkages.

It is also intended to enhance energy security, support efforts for the development of clean energy, promote digital economy through digital connectivity and transmission of data via fiber cables, and promote trade and transport of goods by rail and through ports.

Saudi Arabia welcomed the role of the United States to facilitate and support the negotiation, establishment, and implementation of the green corridors transit protocol with the relevant countries.