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EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
The EU will now allow citizens from Saudi Arabia, Oman, and Bahrain to apply for five-year Schengen visas. This marks a significant step forward in strengthening people-to-people relations between the EU and the GCC.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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IMF Sees OPEC+ Turn on Oil Production as Boon for Saudi Economy in 2025 – Report
The International Monetary Fund said it expects OPEC and its partners to start increasing oil output gradually from July, “a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year,” according to a report in Bloomberg. “We are assuming the full reversal of cuts is happening at the beginning of 2025,” […]
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Dr. William Greene, CIO of the Hevolution Foundation, joins The 966 to talk latest investments, strategy for Hevolution
William Greene, MD, Chief Investment Officer (CIO) of the Hevolution Foundation, joins The 966 to talk about Hevolution’s investment strategy and role as an investor in the emerging field of Healthspan Science. As CIO, Dr. Greene oversees all aspects of Hevolution Foundation’s investment strategy, planning, analysis, and execution.
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Halo Space to test Balloon Flight from Saudi
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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Saudi Arabia Gets First Cannes Official Selection Slot With Drama ‘Norah’
Saudi Arabia has landed its first film in the Cannes Film Festival official selection with “Norah,” a drama by pioneering director Tawfik Alzaidi set in 1990s Saudi, according to reports.
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Trump picks ExxonMobil CEO Rex Tillerson to be secretary of state
President-elect Donald Trump has picked as his secretary of state Rex Tillerson, the chief executive of ExxonMobil, setting up a possible confrontation with members of his own party in the Senate, Trump’s transition team announced Tuesday.
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New ExxonMobil and Saudi Aramco technologies produce ethylene directly from crude oil
Two new steam cracking processes developed by ExxonMobil and Saudi Aramco, respectively, allow petrochemical producers to essentially skip the refining process in converting crude oil directly to light olefins. These new processes could potentially save refiners as much as US$200/t of ethylene produced, according to a comprehensive engineering analysis conducted by IHS.
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New ExxonMobil and Saudi Aramco technologies produce ethylene directly from crude oil
Two new steam cracking processes developed by ExxonMobil and Saudi Aramco, respectively, allow petrochemical producers to essentially skip the refining process in converting crude oil directly to light olefins.
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ExxonMobil CEO: ending oil production ‘not acceptable for humanity’
Tillerson’s presentation at the meeting showed that Exxon believes oil and gas will still provide about 60% of the world’s energy demands by 2040, even if countries adopt climate change proposals agreed in Paris last year.
- NPR - Exxon Mobil, Chevron Shareholders Reject Resolutions Aimed At Battling Climate Change
- WSJ (Paywall) - Chevron Boss: Climate Change Could Help Business
- Washington Post - Attacks in Yemeni port city of Aden kill at least 45 men waiting to join armyClimate resolutions fall short at ExxonMobil’s annual meeting
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ExxonMobil under investigation for allegedly misleading the public about climate change
The inquiry is pursuant both to consumer protection laws and also New York’s Martin Act, a securities law which protects investors, the person said, speaking on condition of anonymity. The subpoena requests a variety of documents, public statements, and records from the company.
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Saudi Aramco-ExxonMobil refining joint venture completes desulphurisation project
The SAMREF partnership, which is celebrating 30 years of joint refining operations, demonstrates the long-term collaboration and progress towards meeting the energy needs of Saudi Arabia’s growing economy.
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