Recent stories from sustg

• 2015 Aramco Annual Review Highlights Record Year of Production
  • June 3,2016

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  • SUSTG Team
   

  Saudi Aramco’s recently released Annual Review 2015 confirms that the state-owned company produced at record levels last year – averaging 10.2 million barrels per day. The report, which features highlights of the company’s 2015 performance, also said total refining capacity stood at 3.1 million barrels per day, “reflecting successful rapid expansion downstream, optimizing the overall […]

   
• Full Text: Saudi Arabia’s ‘Vision 2030’ National Transformation Program
  • April 26,2016

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  • SUSTG Team
   

  Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman, who is chair of the Council of Economic Development Authority (CEDA) and Minister of Defense presented the much-anticipated ‘Vision 2030’ framework of new policies to be pursued by the Saudi government. Here’s the full text of his presentation, as well as the Vision 2030 roadmap itself. The […]

   
• Reduced Consumer Spending, M3 Decline Indicates Saudi Economic Slowdown
  • March 29,2016

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  • SUSTG Team
   

  Central bank data released on Monday shows Saudi consumers withdrew and spent less money in February and a key money supply metric “shrank for the first time since at least 2000,” according to Bloomberg. M3 dropped 0.9 percent from a year earlier last month. According to Reuters, narrower money supply measures M1 and M2 also […]

   
• Saudi Stocks Hit 4-Year Low as Global Markets Shudder at China’s Second Halt in Trading This Week
  • January 7,2016

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  • SUSTG Team
   

  Saudi Arabia’s stock market has continued a tumultuous start to the new year, with the Kingdom’s benchmark index falling another 4.8 percent on Thursday to a four-year low. According to the Financial Times, the drop this year has totaled 10.6 percent, and leaves it 44 per cent weaker than its post financial crisis peak in 2014. The TASI […]

   
• Video Released Shows Timelapse Construction on Riyadh’s Metro Project
  • January 5,2016

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  • SUSTG Team
   

  A recently released video by the leading construction partners on Riyadh’s metro project highlighted the progress made on the mega-project that will change the way the city’s residents get around. In October, the Riyadh metro project hit a major milestone as a consortium led by Spanish construction giant FCC said it has completed the drilling […]

   
• GE secures $1b contract to produce gas and steam turbines to power more than 500,000 homes in Saudi Arabia
  • January 4,2016

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  • SUSTG Team
   

  GE has been awarded what the company called a “landmark contract” with Saudi Arabia valued at nearly US$1 billion for the engineering, construction and provision of gas turbine services for the Waad Al Shamal combined cycle power plant of Saudi Electricity Company (SEC). The plant, scheduled for completion in 4 years, will support the phosphate mining […]

   
• Saudi Arabia’s 2016 Budget Features Prudent Fiscal Policy Decisions
  • December 29,2015

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  • SUSTG Team
   

  Saudi Arabia’s 2016 budget marks a shift in fiscal policy toward prudent but tough decisions for the future of the Arab world’s largest economy. In a recently released note to investors, Riyadh-based Jadwa Investment said the 2016 budget still provides a high level of government spending to drive the Saudi economy. Budgeted at $226b, the amount is a […]

   
• Saudi Arabia’s Unknown Shale Potential is Yet Another Variable in Shifting Global Energy Landscape
  • November 12,2015

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  • SUSTG Team
   

  The impact of the rise of shale production, particularly in the United States, has radically changed the trajectory of the global energy landscape. Only in the last year, when Saudi Arabia and OPEC decided to boost production rates to mute the impact of shale and regain market share, has conventional energy regained top-dog status in […]

   
• IEA 2015 Report: Oil Likely to Rise to $80 by 2020, but Risks for ‘Dependency’ on Low-Costs Producers Heightened
  • November 11,2015

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  • SUSTG Team
   

  Consumers stand to benefit from an extended period of lower oil prices, but a prolonged period would “trigger energy-security concerns by heightening reliance on a small number of low-cost producers, or risk a sharp rebound in price if investment falls short,” the International Energy Agency (IEA) said in its 2015 World Energy Outlook publication (WEO-2015). […]

   
• King Salman Tops Region’s Most Powerful in Latest Forbes List following Eventful First Year
  • November 6,2015

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  • Lucien Zeigler
   

  Forbes magazine has named Custodian of the Two Holy Mosques HRH King Salman as the most powerful personality in the Arab world in the magazine’s most recent list for 2015. Russian President Vladimir Putin (No. 1) takes the top spot out of 73 on Forbes’s seventh annual ranking of “The World’s Most Powerful People.” In a curious decision by […]

   
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