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Seven Important Takeaways from Saudi Deputy Crown Prince Mohammed bin Salman’s Lunch Meeting with President Trump
A “senior advisor to Deputy Crown Prince Mohammed bin Salman” released an enthusiastic statement following yesterday’s meeting between the Prince and President Trump, calling the meeting a “huge success.” Observers of the U.S.-Saudi relationship will read the full text of the statement closely. It provides some insight into the thinking of Saudi leaders on the […]
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Deputy Crown Prince Mohammed bin Salman Departs for United States, Set to Meet with Donald Trump
Deputy Crown Prince Mohammed bin Salman is set to visit Washington, D.C. this week and will meet with President Trump. The Saudi Royal Court, in a statement carried by the official Saudi Press Agency, said that Prince Mohammed will meet with the President and a number of US officials to discuss “the strengthening of bilateral relations […]
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Saudi Arabia’s Fiscal Balance Program (FBP) 2020: The Kingdom’s Path to Fiscal Sustainability
Fiscal reforms already underway in Saudi Arabia could save the Kingdom as much as SR362 billion ($97 billion) annually by 2020, leading to a surplus of SR162 billion ($43 billion) annually, according to a recent analysis by Jadwa Investment. That amount is a significant increase as compared to if nothing was done to address Saudi Arabia’s fiscal […]
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Saudi Arabia Gains ‘Upper Hand’ in Competition for Asia Energy Demand with Massive $7b Aramco-Petronas Deal
Oil giant Saudi Aramco signed a $7 billion deal Tuesday to take a 50 percent stake in a mega Malaysian oil refinery project, in a pact expected to help Saudi Arabia increase trade in Southeast Asia and give the Kingdom an “upper hand” in the supply competition for Asia’s energy demand, according to reports. Saudi […]
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Saudi Arabia Makes Diplomatic Push to Warm Ties with Iraq
Saudi Arabia’s Foreign Minister Adel Al-Jubeir made a surprise trip to Iraq on Saturday, the first trip there by a Saudi foreign minister since 1990. While in Baghdad, Al-Jubeir met with Iraqi Prime Minister Haider Al-Abadi and his counterpart, Ibrahim Al-Jaafari. Al-Jubeir said that Saudi Arabia plans to appoint a new ambassador and resume direct flights […]
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Petrochemicals Sector in Saudi Arabia Remains Vital for Vision 2030 Aims
The Petrochemicals sector in Saudi Arabia makes up 60% of the Kingdom’s non-oil exports and remains vital to the Kingdom’s Vision 2030 aims, according to a recent study on the sector released by Jadwa Investment. The sector’s prominence in the non-oil economy means it has been identified by both the National Transformation Program (NTP) 2020 and […]
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“Ken of Arabia” Lands Moelis and Co. as Lead Advisor for Saudi Aramco IPO
Saudi Aramco has chosen New York-based boutique investment bank Moelis & Co as an adviser on its plans for what is expected to be the world’s biggest initial public share offer, Reuters reports. Moelis & Co secured the role of lead independent adviser. The selection is set to move the small newcomer, and its CEO, […]
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Raw Video Emerges of Houthi Attack on Saudi Frigate as U.S. Sends Destroyer to Red Sea
Raw video has emerged online of a Houthi attack on a Saudi frigate that damaged the ship and drew the condemnation of Saudi Arabia and its allies. Suicide boats belonging to the Houthi militias from Yemen struck the Saudi frigate off Hodeida port in the Red Sea. Two crew members were killed and three were […]
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Saudi Restarts Renewable Energy Investment Plans with up to $50b in Solar, Wind by 2023
Saudi Arabia appears to be re-starting its efforts to expand renewable energy projects to meet growing domestic power needs with up to $50b invested through 2023, according to reports and comments by the Kingdom’s energy and industry minister Khalid al-Falih. The projects, part of the National Renewable Energy Plan (NREP) will be managed under a […]
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Jeddah Cell Connected to ISIS Busted after Two Saudis Blow Themselves Up During Raid
Saudi Arabia has busted a large terror cell after two Saudis blew themselves up during a gun battle in Jeddah, the Kingdom’s second-largest city. In addition to the two dead, 16 suspected terrorists have been arrested, including three Saudis and 13 Pakistani nationals, according to the Saudi Gazette. The Kingdom has also named the two […]
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Saudi Arabia asks Aramco to lower its maximum capacity target
Saudi Arabia's government on Tuesday ordered state oil company Saudi Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day, one million bpd below a target announced in 2020. Saudi Arabia has for decades been the holder of the world's only significant spare oil capacity, providing a safety cushion in case of major disruptions to global output such as those caused by conflict or natural disasters. In recent years, fellow OPEC member the United Arab Emirates has also built up its capacity.
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Saudi ambassador ‘disappointed’ over ‘western centric’ criticism of mulled WTA Finals move
he criticism over moving the Women's Tennis Association Finals to Saudi Arabia represents stereotypical and western-centric views, Saudi ambassador to the United States Reema bint Bandar Al-Saud has said. The debate over hosting the event in the Gulf country has intensified, especially after notable opposition from tennis greats Chris Evert and Martina Navratilova, who expressed opposition in the Washington Post.
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Messi scores but Inter Miami loses to Saudi Arabian team Al-Hilal in friendly
The Major League Soccer team is playing two games in the oil-rich kingdom as part of its preseason preparations, but even Messi could not inspire it to victory in Riyadh. While Messi got on the score sheet with a second-half penalty, Malcom came up with the decisive goal to win the match in the 88th. Al-Hilal had been strongly linked with a move for Messi when he left Paris Saint-Germain and became the most sought-after free agent in the sport last year.
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Saudi Arabia’s Aramco halts plans to increase maximum oil production capacity
Saudi Arabia’s state-controlled Aramco on Tuesday announced it is pausing plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day. In a statement, the world’s largest crude exporter said it had been ordered by the Saudi Ministry of Energy to maintain its Maximum Sustainable Capacity (MSC) at current levels, several years and billions of dollars since it received a directive to boost production capacity to 13 million barrels per day by 2027. Aramco, which went public in 2019, did not disclose the reason behind the ministry’s decision and said it will update its capital spending guidance when its full-year 2023 results are announced in March.
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Emir of Kuwait to Kick off Official Visit to Saudi Arabia
Emir of Kuwait Sheikh Meshal al-Ahmad Al Jaber Al Sabah is set to kick off an official visit to Saudi Arabia on Tuesday. Saudi Arabia and Kuwait enjoy close ties between their people and leaderships, which have always sought to deepen these relations. The neighbors also share common views over several issues, including Gulf affairs. The establishment of the Saudi-Kuwaiti coordination council is a reflection of these close ties. Formed in 2018, the council has adopted a moderate political approach and seeks to achieve security and stability for the Saudi and Kuwaiti people.
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Just the beginning of a long story on Saudi Arabia’s Tabuk region.
From deep slot canyons to the most incredible towers I've seen in any desert in the world, this is a region for the ages. I haven't processed much yet from a recent visit, but here's a little to get you started
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Head of Saudi Arabia’s AlUla cultural development arrested over corruption claims
The allegations concern events prior to his AlUla appointment in 2017. He is accused of having benefited from contracts given by the King Abdullah City for Atomic and Renewable Energy, a public scientific research fund, to a company he co-owns. The contracts were worth $55m. The source from the anti-corruption authority says that three of his partners have also been arrested, have made confessions and are now awaiting trial.
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U.S. struggles to contain Gaza conflict, as Qatar PM sees progress in hostage release talks
“I think it’s very important to note that this is an incredibly volatile time in the Middle East,” Blinken said at a press event with visiting NATO Secretary General Jens Stoltenberg this afternoon. “I would argue that we have not seen a situation as dangerous as the one we’re facing now across the region since at least 1973, and arguably even before that.” “We’ve made very, very clear from day one that we’re going to defend our people,” Blinken said. “We’re going to defend our personnel.”
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3 Options for How Biden Could Respond to Iran
The Biden administration said in a statement on Sunday that U.S. intelligence had already determined that the drone strike was orchestrated by “radical Iran-backed militant groups” in Syria and Iraq. The Associated Press reported on Monday that groups in Iraq were specifically responsible, and a coalition of Iran-backed militias called the Islamic Resistance in Iraq claimed on Sunday that it had targeted U.S. personnel in the vicinity, but it did not explicitly confirm that it had carried out this specific attack. Iran said it had “no connection and had nothing to do” with the strike, stating that decisions by so-called “resistance groups” in the region to attack U.S. forces are made by the groups on their own. However, Iran remains the primary backer of such groups, and its Islamic Revolutionary Guard Corps maintains close ties with them.
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Qatar’s Prime Minister Says Progress Made on Hostage-Release Deal
“We are in a much better place than where we were a few weeks ago,” said Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani, during a public forum in Washington. Still, gaps remain wide over key issues, including international guarantees, that during the pause in fighting a comprehensive agreement would be reached that would lead to a permanent end to the war, according to officials familiar with the talks between the leaders. While the talks were positive, a deal isn’t imminent, they said.
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