The offshore natural gas field in the northern Gulf continues to be a bone of contention among Kuwait, Saudi Arabia and Iran.
While Kuwait and Saudi Arabia refer to the offshore natural gas field located in the neutral zone between Iran and Saudi Arabia as Durra, Iran calls it Arash. / Photo: Reuters
The Ministerial Council of the Gulf Cooperation Council has reaffirmed the"exclusive right" of Saudi Arabia and Kuwait to the disputed Durra gas field on the eastern border of the submerged area in the Gulf. In a statement following its ministerial meeting in the Saudi capital Riyadh on Thursday, the Gulf Cooperation Council affirmed that"the ownership of the natural resources in the submerged area adjacent to the Saudi-Kuwaiti divided zone, including the entire Durra field, belongs to the Kingdom of Saudi Arabia and Kuwait only.”It also welcomed that the ambassadors of Saudi Arabia and Iran began their diplomatic missions.
Iran has previously said it has a stake in the Durra field and called a Saudi-Kuwaiti agreement signed last year to develop it"illegal." In July, Iran said that it would pursue its rights over the field if other parties shunned cooperation, after Kuwait's oil minister said his country would start drilling and begin production without waiting for border demarcation with Iran.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IMF projects Saudi Arabia budget deficit at 1.2% of GDP in 2023 By ReutersIMF projects Saudi Arabia budget deficit at 1.2% of GDP in 2023
Read more »
Giannis Antetokounmpo Down To Play In Saudi Arabia After NBA CareerGiannis Antetokounmpo tells TMZ Sports he wants to take his talents to Saudi Arabia after his NBA career is over.
Read more »
WTI crude oil jumps 1% amid extended cuts by Saudi Arabia and Russia; US inventories eyedWestern Texas Intermediate (WTI), the US crude oil benchmark, advanced some 1% on Wednesday due to further draws on US crude oil inventory, while Saud
Read more »
Saudi Arabia, Russia oil cuts could impact U.S. interest ratesSaudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
Read more »
Lindsey Graham tells Trump to support Biden negotiations with Saudi ArabiaSen. Lindsey Graham (R-SC) told former President Donald Trump to support President Joe Biden's negotiations with Saudi Arabia.
Read more »
Why Are We Still Arming Saudi Arabia?If there are to be any meaningful consequences for Saudi actions, Congress will have to step in.
Read more »