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  • In Dhahran, Energy Secretary Perry, Al-Falih Discuss Oil Markets, Nuclear Possibilities
     

    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 […]

     
  • OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
     

    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 […]

     
  • Saudi Private Sector Growth hits 11 Month High as Economy Adjusts to Reforms
     

    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 […]

     
  • Oil Continues Rebound as OPEC, Russia Eye Production Cut Agreement
     

    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, […]

     
  • Saudi Arabia to Host G20 Summit Meetings in 2020
     

    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 […]

     
  • Significant Step Taken in U.S.-Saudi THAAD Missile Deal
     

    A personal call between President Donald Trump and King Salman Saudi Arabia helped to finalize an agreement in which the Kingdom will buy Lockheed Martin’s $15 billion THAAD missile defense system, according to reports. The U.S. State Department said the Saudis and U.S. officials signed letters of offer and acceptance documents on Monday, formalizing terms for Saudi’s […]

     
  • Senate Set to Vote On Measure to End U.S. Support Saudi Arabia in Yemen as Pompeo Pens Op-Ed Touting ‘Vital Partnership’
     

    The U.S. Senate is expected to vote on legislation as early as Wednesday that would end U.S. involvement in the Saudi Arabia-backed war in Yemen, as the Trump Administration continues to publicly express support for the U.S.-Saudi relationship. Politico reports that the bill introduced by Sens. Mike Lee (R-Utah) and Bernie Sanders (I-Vt.) “has gained support since […]

     
  • Saudi Aramco Aims to Invest $150b to Become Gas Exporter – CEO
     

    Saudi Aramco’s gas expansion strategy needs $150 billion (117.55 billion pounds) worth of investments over the next decade as the company plans to increase output and become an exporter, Reuters reports, citing CEO Amin Nasser’s comments at an industry event in Dubai. Aramco is pushing ahead with its conventional and unconventional gas exploration and production program […]

     
  • Saudi Aramco CEO: ‘We Need a Major Acquisition For Us to Be In Different Markets Quickly’
     

    In an interview with Bloomberg, Saudi Aramco’s CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects. The interview, given in Dhahran, Saudi Arabia, said the planned spending would come on top of the already planned purchase of a […]

     
  • Donald Trump Affirms Solidarity with Saudi Arabia in Written Statement as Top Senators Vow Further Action
     

    President Donald Trump vowed on Tuesday to remain a ‘steadfast partner’ of Saudi Arabia despite saying that Saudi Crown Prince Mohammed bin Salman may have known about the plan to murder dissident journalist Jamal Khashoggi last month. “This is an unacceptable and horrible crime,” President Trump said in the statement, but added, “our relationship is with […]

     

MUST-READS

  • European players permitted to take part in Saudi International

    By Monday’s deadline, between 30 and 40 members of the tour had requested releases to play in the Asian Tour-run event near Jeddah, from February 3rd. It is sponsored by the Saudi public investment fund and carries huge appearance fees.

  • Tata Communications, Zain partner for smart city projects in Saudi Arabia

    Tata Communications IoT ecosystem will serve as one-stop-shop to provide the hardware, platform, application and insights while Zain KSA will expand the footprint with its business-to-business (B2B) offerings through joint projects related to software-defined wide area network (SD-WAN) and global contact centers, as well as the application of smart transport and Internet of Things (IoT) solutions enabling smart waste handling, smart metering and other smart city use cases.

  • Aramco, AEC announce partnership focused on accelerating Saudi Arabia’s digital ecosystem

    AEC, a Saudi Arabian Military Industries (SAMI) company, and Aramco said that the MoU would support efforts to enable the internet of things, computing and communication, drones, robotics, and semiconductors in Saudi Arabia.

  • Saudi Arabia’s defenses thwart new Houthi attacks

    Earlier on Monday, the Kingdom’s Ministry of Defense said air defenses intercepted and destroyed a “hostile aerial target” launched toward the city of Taif. “The aerial threat was launched by the Houthi militia from inside Yemen,” the ministry said, adding: “We are taking deterrent operational measures to neutralize the threat and protect civilians.”

  • 2022 Look Ahead: Saudi Arabia’s booming entertainment sector is just getting started

    Five years on, the thirst for entertainment in Saudi Arabia is plain to see. In the space of just two months, up to 8 million people have taken part in Riyadh Season 2021 — a cultural extravaganza that was unheard of just half a decade ago.

  • Saudi shares make positive start to 2022 despite COVID cases

    Saudi Arabian shares began 2022 on a positive note, in spite of a jump in cases of the Omicron coronavirus variant. The largest Gulf state, with a population of around 30 million people, registered 1,024 new coronavirus infections and one death on Sunday.

  • Two countries account for three-quarters of the Gulf’s foreign trade

    GCC countries’ total merchandise exports amounted to $ 438.5 billion in the year 2020, down 28.4% from the year 2019. The value of re-exported merchandise was $ 79.6 billion dollars in the year 2020, a 24.5% decline over the year 2019, while total imports of goods decreased 12.4% over the year 2019, to reach $ 402.2 billion during the year 2020.

  • Foreign Investment Into Saudi Arabia Falls Back To Earth

    The latest figures from the Saudi Central Bank (Sama), released this week, show inward foreign direct investment (FDI) into the country was $1.75 billion in the third quarter of 2021. That was a sharp fall from the record figure of $13.8 billion in the April-June quarter, which had been boosted by a deal for the pipeline network of energy giant Saudi Aramco.

  • Saudi and Israeli foreign ministers joined State Department virtual meeting on Omicron

    US Secretary of State Antony Blinken's virtual meeting with foreign ministers about the Omicron coronavirus variant last week included the ministers from both Saudi Arabia and Israel, a rare instance where the two countries who do not have formal diplomatic relations participated in the same call.

  • Spring migration in Saudi Arabia, part one – BirdGuides