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Recent stories from sustg
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In Interview, Governor of SAGIA Ibrahim Al-Omar Says New Licenses for Investment and Business Soaring
- May 2,2018
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- SUSTG Team
The head of Saudi Arabia’s top licensing and investment body says that the Kingdom is increasing its new licenses to investors and businessmen seeking to do business in the Kingdom, according to an interview in TheBanker.com. Ibrahim Al-Omar, head of the powerful Saudi Arabian General Investment Authority (SAGIA), told journalist James King in an interview how Saudi […]
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Milestone Achieved in Launch of Saudi Arabia’s National Privatization Program and Center
- April 27,2018
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- SUSTG Team
Saudi Arabia has announced the launch of “Delivery Plan 2020,” a privatization program headed by a newly created office, Saudi Arabia’s National Centre for Privatization (NCP), in a major milestone for the Kingdom as it looks to advance its Vision 2030 economic and social reform goals. The plan sets out the country privatization agenda for […]
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CEDA Approves Privatization Program in Progress for Vision 2030 Implementation
- April 25,2018
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- SUSTG Team
Saudi Arabia’s powerful Council of Economic and Development Affairs (CEDA) approved a Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030, according to reports. Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from the privatization program by 2020 and create […]
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Catholic Cardinal meets Saudi king in Historic Visit to Riyadh
- April 19,2018
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- SUSTG Team
Saudi Arabia’s King Salman has met French cardinal Jean-Louis Tauran during the first visit to the Kingdom by such a senior Catholic authority, according to the SPA. The move follows other overtures by Saudi Arabia’s leadership in recent weeks to other faiths, and a visit by Lebanon’s Christian Maronite Patriarch Beshara al-Rai in November. Interfaith dialogue has been […]
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Saudi Aramco Earned $33.8 billion in the first half of 2017, Has ‘Virtually No Debts’, Data Reviewed by Bloomberg Says
- April 13,2018
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- SUSTG Team
A first glimpse at Saudi Aramco’s finances by Bloomberg News reveals the state oil giant made a whopping $33.8 billion in net income in the first half of 2017 and has very little debt, according to a series of stories published by the news site. The figures have previously only been seen by top Saudi leadership and […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
- April 9,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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Crown Prince Mohammed bin Salman Meets with U.N. Secretary General in New York
- March 28,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman continued his active visit to the United States yesterday, attending a business meeting in New York with over 200 executives, and separately meeting with the Secretary General of the United Nations, Antonio Guterres. 200 top business leaders from the U.S. and Saudi Arabia – including two dozen women – assembled in […]
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Reports: Crown Prince and Delegation to Meet with Tech, Defense, Banking Giants
- March 22,2018
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- SUSTG Team
Two separate reports from Bloomberg confirm that Saudi officials are eying meetings with major banking houses and technology giants during the Crown Prince’s nearly three-week long visit to the United States. The delegation currently visiting the United States will seek to meet with executives from Amazon, Apple, Google, Pfizer and other companies as they hunt for […]
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Oil Revenues Above Saudi Budget Breakeven Price Will Go to PIF Coffers, Al Tuwaijri Says
- March 9,2018
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- SUSTG Team
Steadily climbing oil prices over the past year may help increase cash in Saudi Arabia’s massive Public Investment Fund (PIF), according to comments by Mohammed Al Tuwaijri, the kingdom’s minister of economy and planning. “Whenever oil is above our break-even point, this will all go to the PIF,” he said, as reported in the Financial Times, without […]
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Saudi Crown Prince Reassures Foreign Investors after Corruption Crackdown
- February 20,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman is seeking to reassure the business community following the Kingdom’s crackdown on corruption, which netted over $100 billion for the Saudi government from alleged impropriety. The secretive nature of the arrests and concerns over political motivations have worried local and foreign business leaders. More than 300 people, among them royals, politicians and […]
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MUST-READS
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Energy ReservesSaudi Aramco finds fields, focuses on rigless technologies
The new discoveries and reserves maintained Saudi Aramco’s crude oil reserves at 261.1 billion barrels. Total gas reserves rose to 297.6 Tcf, the firm says.
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Saudi Aramco IPOSaudi Aramco IPO: The Biggest Fee Event in Wall Street History
Some deals only happen once in a blue moon. Others only come around once in a generation. But the one Wall Street bankers are eyeing in the deserts of Saudi Arabia is going to need a new set of superlatives.
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Saudi Aramco IPOSaudi Aramco listing lures banks with prospects of game-changing deals
Investment banks are jostling to take part in the listing of a chunk of Saudi Arabia's state-owned oil giant Aramco as a portal to the lucrative deals they expect to flow from the kingdom's plan to revamp its economy.
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Saudi Aramco IPOHow Saudi Aramco IPO could be ‘highly deflationary’ for oil
Why now? That’s the question surrounding Saudi Arabia’s planned listing of a portion of its massive national oil company.
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Solar EnergySaudi Aramco sees PV storage as most economic at under 4 storage hours
PV with lithium-ion battery storage is more cost-competitive than CSP for storing up to four hours of energy, based on today’s technology and cost, said Tim Polega, executive head of Saudi Aramco's renewable energy program.
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Saudi Aramco IPOSaudi to retain key decision-making for Aramco after IPO
The taxation and accounting of Aramco would require “extensive rewiring”, Mr Falih said. Projects undertaken on behalf of the government rather than for the commercial entity would have to be “delineated”.
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Saudi AramcoSaudi Aramco signs MoU with GE and Cividale SpA
Saudi Aramco has signed a Memorandum of Understanding (MoU) with GE (NYSE: GE) and Cividale SpA of Italy to build the Middle East and North Africa’s first-of-its-kind high-end forging & casting manufacturing facility that will serve the region’s maritime and energy industries.
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Ras al-KhairSaudi Aramco Signs Maritime Yard Agreement
The Saudi Arabian Oil Company, known as Saudi Aramco, has signed a joint agreement with three potential partners for the development of a maritime yard at Ras al-Khair in the Eastern Province of the Gulf state.
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Saudi Oil PolicySaudi Aramco Lifted 2015 Oil Output to Record to Retain Market Share
Saudi Arabian Oil Co., the world’s largest crude producer, increased output to an all-time high last year while keeping its reserves unchanged as the kingdom battles for market share.
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Saudi AramcoSaudi Aramco says discovers new fields, to continue energy investments
Aramco, the world's largest oil company, which is preparing a stock market listing to sell a small portion of its shares, has discovered three new oil fields, it said in the report. They are Faskar, offshore in the Arabian Gulf near the Berri field; Janab, east of the Ghawar field; and Maqam, in the eastern Rub’al-Khali.
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