Saudi Arabia Current Affairs - 2019
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Jordan has been elected as a non-permanent member of United Nations Security Council (UNSC). Jordan has replaced Saudi Arabia which was recently elected for the position but rejected the seat in protest at the UN council’s failure to end the war in Syria and act on other Middle East issues.
Which are the new members on UNSC?
Jordan is the latest entrant on the UNSC as its non-permanent member. Besides, Lithuania, Chile, Nigeria and Chad will also join as new members of the council, replacing Azerbaijan, Guatemala, Pakistan, Morocco and Togo. The other five temporary council members that will remain next year are Argentina, Australia, Luxembourg, South Korea and Rwanda.
Some key points about UNSC
The UNSC was established in 1946 as per Article 23 of Chapter V of United Nations Charter. The council has 15 members which are further categorized into 5 permanent and 10 non –permanent members of the Council. The non-permanent members have term of 2 years.
- Russian Federation
- The United Kingdom
- The United States of America
What are the key responsibilities of the UNSC?
The UNSC is one of the six key organs of the United Nations and is entrusted with the maintenance of international peace and security. Its powers include the establishment of peacekeeping operations, the establishment of international sanctions, and the authorization of military action through Security Council resolutions; it is the only UN body with the authority to issue binding resolutions to member states.
Tags: Argentina • Australia • Azerbaijan • Chad • Chile • China • Current Affairs 2013 • France • Guatemala • Jordan • Lithuania • Luxembourg • Morocco • Nigeria • Pakistan • Russia • Rwanda • Saudi Arabia • South Korea • Togo • UK • UN • UNSC • US • USA
According to International Energy Agency (IEA), the United States will leave behind Saudi Arabia and Russia to become the world’s top oil producer in 2015. This development will enable the US to become almost self-sufficient reducing its dependency on OPEC supply. However, the IEA forecasts that by 2020, the oilfields of Texas and North Dakota will be past their peak output and the Middle East will resume its dominance – especially as a supplier to Asia.
As per International Energy Agency:
- A surge in shale oil production in the United States has reversed a reduction in its oil output and the IEA, adviser to industrialised nations, predicted in its 2012 World Energy Outlook the U.S. would surpass Riyadh as top producer in 2017.
- The surge in the oil output from Brazil, the dependence on Middle East oil in the next few years will be reduced.
- Oil prices would continue to increase prompting development of unconventional resources such as the light, tight oil that has fueled the U.S. oil boom, oil sands in Canada, deepwater production in Brazil and natural gas liquids.
- By the mid-2020s, non-OPEC production will decline and nations in the Middle East mainly Organization of the Petroleum Exporting Countries (OPEC) will provide most of the increase in global supply.
- The Middle East will continue to be of central importance to fulfill the needs of the global oil industry mainly in Asia for many years to come.
- Currently, increasing U.S. tight oil production is helping to meet growing demand which is estimated to touch 101 million barrels per day (bpd) in 2035, up from 86.7 million bpd in 2011 and up slightly from 99.7 million bpd expected last year.
- Supply of Middle East oil will be crucial to the demands from China and India.
- China is expected to overtake the US as the largest oil-consuming country and Middle East oil consumption is likely to surpass that of the European Union, both around 2030.
- India is projected to become the largest single source of global oil demand growth after 2020.
What is Tight Oil?
Tight oil is petroleum that consists of light crude oil contained in petroleum-bearing formations of low permeability, often shale or tight sandstone. It is also called shale oil or Light Tight Oil (LTO). Tight oil should not be confused with oil shale, which is shale rich in kerogen.