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Saudi Government ‘Rejects’ U.S. Senate Rulings on Saudi Arabia But Pledges to Continue Building Relationship
- December 17,2018
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- SUSTG Team
The government of Saudi Arabia issued a statement condemning a recent U.S. Senate resolution blaming Crown Prince Mohammed bin Salman for the killing of journalist Jamal Khashoggi, and said the government rejects external interference in its affairs. The Senate measure, which passed in a rare bipartisan vote with unanimous approval on Thursday, was a sweeping condemnation of Crown […]
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Breakthrough Ceasefire Agreements Reached over Yemen Ports as U.S. Senate Rebukes Trump
- December 14,2018
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- SUSTG Team
The internationally recognized Yemeni government and the Iranian-aligned Houthi movement agreed to a ceasefire around the city of Hodeidah and to remove troops from the area in a potential major turning point for the three year old conflict, according to reports. The agreement was reached at U.N.-brokered talks in Sweden. The port, which is currently under Houthi control, […]
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Looking toward Africa, Saudi Seeks Red Sea Political, Economic Bloc
- December 13,2018
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- SUSTG Team
Saudi Arabia is seeking a political and economic alliance with six countries bordering the Red Sea and the Gulf of Aden in a move aimed at strengthening its interests in the crucial waterway and in Africa, according to reports. Representatives from Egypt, Djibouti, Somalia, Sudan, Yemen and Jordan gathered in Riyadh on Wednesday to discuss the initiative, […]
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KPMG Releases Second Edition of its Saudi Arabia CEO Outlook report; Finds Positivity Among Saudi CEOs
- December 12,2018
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- SUSTG Team
KPMG has released its second edition of its Saudi Arabia CEO Outlook report, available as a .PDF from the company’s website here. The report is based on interviews with 50 CEOs of organizations in Saudi Arabia for their thoughts and insights on the potential opportunities that they have while preparing for the challenges that lie ahead, […]
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BBC Travel Profiles Asir’s ‘Flower Men’, Natural Beauty as Kingdom Eyes Tourism Push
- December 11,2018
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- SUSTG Team
A recently published story in the BBC highlights the unique culture and natural beauty of the Asir province in Saudi Arabia, whose male inhabitants don colorful and ornate head dresses made of local flowers. The U.K.-based news service traveled to Asir province in the south of the Kingdom, one of the least traveled places in Arabia by Western […]
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In Dhahran, Energy Secretary Perry, Al-Falih Discuss Oil Markets, Nuclear Possibilities
- December 10,2018
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- SUSTG Team
U.S. Energy Secretary Rick Perry held a round of talks with Saudi Minister of Energy Khalid Al-Falih and Aramco CEO Amin Nasser as well other energy industry figures in Dhahran, Saudi Arabia, according to reports. The top energy officials from the U.S. and Saudi Arabia discussed oil markets and nuclear power possibilities. Saudi Arabia’s energy minister Khalid al-Falih […]
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OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
- December 7,2018
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- SUSTG Team
OPEC and Russia have agreed to collectively throttle back oil production by 1.2 million barrels per day to dry up a global supply glut, according to energy reporters from the Wall Street Journal. OPEC nations would cut 800,000 barrels and the Russia-led group would handle the remainder, according to the WSJ. Oil prices on indices […]
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Saudi Private Sector Growth hits 11 Month High as Economy Adjusts to Reforms
- December 6,2018
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- SUSTG Team
Saudi Arabia’s non-oil private sector grew at its fastest rate for 11 months in November, Reuters reports, citing a monthly survey of companies. The positive private sector growth figure is “a sign that the economy may finally be recovering from austerity measures” imposed at the start of 2018 as part of the Kingdom’s economic reform plans, which […]
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Oil Continues Rebound as OPEC, Russia Eye Production Cut Agreement
- December 4,2018
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- SUSTG Team
The price of oil on international indices has rebounded for a second straight trading day after leaders from Saudi Arabia and Russia indicated that production cuts were likely to stabilize oversupplied markets, according to reports. But while sentiment appears to indicate a looming decision to cut production by OPEC members and Russia at a meeting in Vienna, […]
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Saudi Arabia to Host G20 Summit Meetings in 2020
- December 3,2018
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- SUSTG Team
The final communiqué of the G20 summit, which concluded this weekend in Buenos Aires, Argentina, confirmed that Saudi Arabia will host the summit in 2020. Hosting the major event involving the world’s largest economies is an opportunity for the Kingdom to showcase Saudi’s standing as a key player in the G20 and a force for economic stability. Saudi […]
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MUST-READS
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Desert Rock – carved into the Saudi Arabian mountains – opens its doors
The resort’s 54 villas and ten suites are ingeniously integrated into the natural environment, some seeming to hang from rocky pinnacles, others built into the mountain itself with cliffside plunge pools. The Cliff Hanging Villas are perched high above the resort, these villas feature dramatic views of the desert and mountains, offering an extraordinary combination of serenity and adventure. Desert Rock embodies Red Sea Global’s commitment to sustainability, responsible tourism, and luxury. Every aspect of the resort, from its architecture to its service, has been designed with a focus on preserving the unique environment and enhancing key terrestrial habitats, while offering guests an unforgettable experience powered entirely by sunlight. Desert Rock is the perfect destination for travellers seeking a luxurious escape in one of the world’s most pristine landscapes.
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Saudi Reef Forum Sets New Milestones for Sustainable Development
Organized by the Ministry of Water, Environment and Agriculture, the three-day event was recognized by Guinness World Records as the most attended agricultural forum in the world, bringing together around 70 speakers and nearly 5,000 visitors, including representatives from government entities, academia, businesses, local farms, and NGOs. The event highlighted the importance of rural communities and the role of public-private partnerships in rural development, aligning with the UN Sustainable Development Goals and Saudi Vision 2030.
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Saudi Arabia Becomes Top Buyer Of Russian Fuel Oil
Saudi Arabia was the leading buyer of Russian seaborne fuel oil and vacuum gasoil (VGO) exports in November, LSEG data has revealed. According to Reuters calculations based on LSEG data, Russian fuel oil and VGO exports grew 6% month-on-month in November to about 4.26 million metric tons. Asian countries have become top buyers of Russia's fuel oil and VGO ever since the European Union imposed a full embargo on Russian oil products in February 2023. India is no longer the biggest buyer of Russian crude. According to the Centre for Research on Energy and Clean Air (CREA), India’s imports of Russian crude fell a massive 55% in November--the lowest figure since June 2022--despite Russia continuing to sell its oil at a discount. India has lately been trying to diversify its oil supplies
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Saudi Arabia reopens its Afghanistan embassy
The Saudi embassy in the Afghan capital, Kabul announced that it had resumed services from Sunday, more than three years after the kingdom withdrew its diplomats following the Taliban takeover of Afghanistan. “Based on the desire of the government of the kingdom of Saudi Arabia to provide all services to the brotherly Afghan people, it has been decided to resume the activities of the mission of the kingdom in Kabul starting on December 22,” the embassy posted on X. There was no immediate comment from the Saudi ministry of foreign affairs on the resumption of diplomatic services, and the level of representation remains unclear.
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Great Power Competition in the Red Sea
In recent months, as the United States has lifted restrictions on Ukrainian strikes into Russian territory, Russia has countered by increasing its support for the Houthis and the group’s attacks on commercial shipping in the Red Sea. Russia has already provided satellite tracking data of commercial vessels to the Houthis through Iranian intermediaries and is now threatening to supply the group with advanced anti-ship missiles. Such a move would allow the Houthis to present an even greater threat, potentially even endangering U.S. warships patrolling the waters.
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For the OPEC+ Oil Producers, a Year of Caution Paid Off
With all the uncertainty clouding the picture, OPEC+ adopted a cautious approach throughout 2024, maintaining production levels without change in efforts to balance the market and prop up prices that were weighed down by tepid Chinese demand and higher non-OPEC+ output, mainly from the United States. It was largely successful in preventing what some analysts expected would be a slide below $70 per barrel. Benchmark Brent crude oil averaged $80.91/bbl as of December with prices trading within a tight range between $71/bbl and $74/bbl in the final trading days of the year. The U.S. Energy Information Administration has forecast that Brent crude oil prices will end the year at an average $80.49/bbl, falling to an average $73.58/bbl in 2025.
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Commentary: The balance of power is shifting in the Middle East – and it is Turkey’s ‘full moon’ on the rise
Turkey played a pivotal role in the rebels’ surprising triumph. The operation unfolded with an extraordinary lack of the kind of violent destruction that has characterised Syrian campaigns over the past 13 years. Turkey provided intelligence, guidance and political cover. In the early years of the Syrian conflict, dozens of nations offered sporadic support to opposition groups, but Turkey’s commitment to the rebels in the north-western enclave near its border was consistent. Through ceasefires and frozen frontlines brokered since 2019, Turkey ensured that the rebels had the stability to rearm and reorganise. With Iran stretched thin and unable to provide resources and manpower due to Israeli strikes against Hezbollah and Iranian networks in Lebanon and Syria, the collapse of Assad’s regime became not only possible but inevitable. Meanwhile, Russia, preoccupied with its war in Ukraine, offered only limited support to Assad.
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New grain terminal opens in Saudi Arabia
National Grain Co., a joint venture between the Saudi Agricultural and Livestock Investment Co. (SALIC) and Bahri, inaugurated the Yanbu Grain Handling Terminal on Dec. 22 at Yanbu Commercial Port. The company said the new terminal features a storage capacity of 156,000 tons, including 12 silos with a total capacity of 96,000 tonnes and a flat warehouse with a 60,00-tonne capacity, a 650-meter conveyor belt, and a ship grain unloading capacity of 800 tonnes per hour. The facility, which was constructed over a two-year period, is the first regional center for grains in the Yanbu port. It can handle up to 3 million tonnes of grain annually, including barley, corn and soybeans, the company said.
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The presence of women in Saudi press conferences
The overall results show that the recent empowerment of Saudi women has led to an increase in their participation, rising from complete absence to nearly 14% of the questions asked. This shift may also encourage journalists to broaden their focus from women’s issues to other pressing topics of greater public interest. However, while female participation in the Saudi workforce has risen from 17% to 36%, their involvement in press conferences remains underrepresented. This suggests that certain areas of the workplace may require more time to advance, potentially through further training and education.
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66 endangered species released into King Khalid Royal Reserve
The National Center for Wildlife (NCW), in collaboration with the Imam Abdulaziz bin Mohammed Royal Reserve Development Authority, has released 66 endangered species into the King Khalid Royal Reserve. As part of the initiative, the NCW has reintroduced 40 Arabian Oryx, 10 addax, 6 Nubian Ibex, and 10 Houbara Bustards. This effort forms a key component of a breeding and reintroduction program aimed at enriching the reserve's biodiversity, restoring ecological balance, enhancing sustainability, and promoting eco-tourism.
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