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Report: For Now, OPEC+ Resists Calls by U.S. for Increased Oil Production
- August 17,2021
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- SUSTG Team
The so-called OPEC+ group of oil producing nations, including Russia, “believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise,” a report in Reuters said.
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‘All Around the Region, Iran Continues to be Emboldened,’ Saudi Arabia’s Foreign Minister Says at Virtual Forum
- August 4,2021
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- SUSTG Team
Saudi Arabia’s foreign minister Prince Faisal bin Farhan al Saud said on Tuesday he sees an emboldened Iran acting with increased malign intent in the region in an appearance at a virtual gathering of the Aspen Security Forum. “All around the region, Iran continues to be emboldened,” Prince Faisal bin Farhan said. “Iran is extremely active in […]
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Finance, Insurance Sectors in Saudi Arabia Latest to Move Toward 100% Saudization
- July 28,2021
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- SUSTG Team
The finance and insurance sectors in Saudi Arabia will move toward implementing total Saudization with the hiring of Saudi nationals in as many as 91,000 jobs that are currently occupied by non-Saudis, according to a report from the local Okaz/Saudi Gazette.
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Saudi Arabia’s Stock Market Has Best First Half in 16 Years – Report
- July 1,2021
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- SUSTG Team
Saudi stocks wrapped up the best first half in 16 years, after rallying 26% in 2021 so far, Bloomberg reports. According to Bloomberg, the jump so far in 2021 comes on the back of increasingly higher oil prices and government projects, including a program which aims to release $1.3 trillion of private sector investment.
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Kingdom’s Net Foreign Assets Fall Again, but Higher Oil Prices Should Lift Reserves in Coming Months
- June 29,2021
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- SUSTG Team
Saudi Arabia’s net foreign assets fell again in May by 0.8% after reaching a 10-year low last month, according to reports, but higher oil prices should boost government figures in the coming months as the Kingdom ramps up production to meet demand.
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Saudi Arabia Plans to Auction Two Major Mining Licenses in 2022 as Kingdom Seeks to Boost Foreign Investments
- June 18,2021
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- SUSTG Team
Saudi Arabia will begin auctioning off two licenses to mine in then mineral-rich Kingdom starting next year, the vice-minister for mining affairs, Khalid al-Mudaifer, told S&P Global Platts on June 16 in an exclusive interview. The mining sector in Saudi Arabia has $1.3 trillion in untapped potential reserve value, according to the minister.
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Saudi Arabia Updates Travel Ban List, Removes 11 Countries
- June 9,2021
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- SUSTG Team
Saudi Arabia has reduced the number of countries where its nationals and citizens are banned from traveling from 20 to just 9 as it continues to open up its airways following the global pandemic.
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U.S. Defense Secretary Austin, Crown Prince Mohammed bin Salman Speak by Phone; U.S. ’emphasized U.S. Commitment to Helping Saudi Arabia Defend its Territory’
- June 3,2021
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- SUSTG Team
U.S. Defense Secretary Lloyd J. Austin III spoke with Saudi Crown Prince Mohammed bin Salman on Wednesday and emphasized that the U.S. was committed to helping Saudi Arabia defend its territory and people, the Pentagon said in a statement.
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OPEC+ Believes Glut Created with Pandemic ‘Nearly Gone’, Sees Stockpiles Diminishing Rapidly in 2021 – Report
- June 1,2021
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- SUSTG Team
The so-called OPEC+ coalition of oil-producing nations lead by Saudi Arabia and Russia is “expecting world oil markets to get acutely tight” in 2021, a year after taking the unprecedented steps of slashing production in the face of weak demand created by the Coronavirus pandemic, Bloomberg reports.
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Entertainment Activities to Resume in Saudi Arabia after Coronavirus Shutdowns, Authorities Announce
- May 28,2021
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- SUSTG Team
Saudi Arabia has announced that entertainment activities and events across the Kingdom may resume after months of shutdowns and cancellations in order to curb the spread of the Coronavirus pandemic, according to Gulf News.
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Russia in the RegionU.S. steps up warnings on Russia over Syria’s Idlib, military de-confliction
The United States on Wednesday stepped up warnings to Russia over its Syria policy, saying Moscow was trying to challenge the U.S. presence in northeastern Syria by violating the terms of a de-confliction agreement and was also helping escalate the fighting in the northwestern province of Idlib.
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U.S.-TurkeyU.S. halts secretive drone program with Turkey over Syria incursion
The U.S. decision to indefinitely suspend the program, which has not been previously reported, was made in response to Turkey’s cross-border military incursion into Syria in October, the U.S. officials said, revealing the extent of the damage to ties between the NATO allies from the incident.
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Shale OilShale pioneer John Hess says key U.S. fields starting to plateau
Production in the Eagle Ford Shale in South Texas is starting to plateau, while the Bakken field in North Dakota where Hess is a major producer will hit its peak production levels within the next two years, said Hess, who spoke Tuesday in Houston at the Argus Americas Crude Summit.
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Trump Peace PlanU.N. aid agency fears U.S. Middle East plan will spark violence
Christian Saunders, head of the U.N. Relief and Works Agency for Palestine Refugees (UNRWA), asked about the U.S. plan which would not allow a right of return to Israel, said that this right was “enshrined in international law and various (U.N.) General Assembly resolutions”
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U.S.-IranU.S. says first shipments of medicine to Iran delivered via Swiss humanitarian channel
A humanitarian channel to bring food and medicine to Iran has started trial operations, the Swiss and U.S. governments said on Thursday, helping supply Swiss goods to the struggling population without tripping over U.S. sanctions.
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TurkeyTurkey’s Erdogan criticises Arab silence over U.S. Middle East plan
Turkish President Tayyip Erdogan on Friday criticised Saudi Arabia and other Gulf Arab nations for not speaking out against the U.S. Middle East plan which he said endorsed the Israeli annexation of Palestinian lands.
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Trump Peace PlanArabs prioritize key ties with U.S. against Iran in reacting to Trump peace plan
Egypt and Jordan, which already have peace deals with Israel, as well as Bahrain, Qatar and the United Arab Emirates (UAE) used similar language that swung between hope for re-starting talks and caution against abandoning long-held stances.
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Trump Peace PlanPalestinians push U.N. action over U.S. peace plan, Abbas to speak at U.N. Security Council
However, the United States is certain to veto any such resolution, diplomats said, allowing the Palestinians to take the draft text to the 193-member U.N. General Assembly, where a vote would publicly show how Trump’s peace plan has been received internationally.
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AfghanistanOfficials Recover Remains at U.S. Military Plane Crash Site in Afghanistan
Military officials said that they had recovered two sets of remains from the two-person plane, and that the crash did not appear to be caused by enemy fire.
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IranPerspective: Iran’s Leadership Works to Heal Rifts Opened Amid Protests, U.S. Pressure
The spat between the president and the armed forces, is a “struggle to apportion blame for the tragedy,” said Mr. Harris. While the military says a single officer was at fault, he said, “Rouhani and his bureaucrats want to shift the blame onto the whole military as an institution, to hopefully claw back some political capital from the tragedy.”
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