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Recent stories from sustg

  • Internet in the Middle East Still Short of Its Potential
     

    Last week’s third ArabNet conference for digital entrepreneurs in the MENA region was, by the standard of these things, a modest affair. But nonetheless it showed how the regional digital economy has grown, and how it is poised to take off. As one commentator said: “Jordan for the talent, Lebanon for the creativity, Egypt for […]

     
  • Saudi to maintain oil supply if U.S. draws stocks
     

    Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said. U.S. Secretary of State Hillary Clinton on Saturday in Riyadh sought an assurance from Saudi King Abdullah that the kingdom […]

     
  • Hillary Clinton: Time running out for diplomacy with Iran
     

    U.S. Secretary of State Hillary Rodham Clinton made clear Saturday that time is running out for diplomacy over Iran’s nuclear program and said talks aimed at preventing Tehran from acquiring a nuclear weapon would resume in mid-April. With speculation over a possible U.S. or Israel military attack adding urgency to the next round of discussions […]

     
  • Water Brings Green to Saudi Arabia
     

    Over the last two-and-a-half decades, a series of NASA’s Landsat satellites have captured these pictures of the growing agriculture industry in the northern reaches of the Syrian Desert in Saudi Arabia, not far from Jordan. Farmers use a technique called center-pivot irrigation to bring up water from below the desert floor to grow wheat and […]

     
  • U.S. Might Have More Oil Than Saudi Arabia, But…
     

    People are often confused about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to be produced if bureaucrats will simply stop blocking development. In fact, in a recent debate between Republican candidates contending for Gabrielle Giffords’ recently vacated House seat, one candidate […]

     
  • Five short stories from World Energy Outlook
     

    The IEA’s World Energy Outlook (WEO) is an annual tradition, the result of much work, data analysis and presentation. A formative volume is produced for all to read and digest, but few of us have the time to do so in the detail required.  As such we rely to some extent on IEA presentations and summary documents. […]

     
  • Saudi Arabia will act to lower soaring oil prices
     

    In an op-ed in the Financial Times, Ali Al Naimi writes, “High international oil prices are bad news. Bad for Europe, bad for the US, bad for emerging economies and bad for the world’s poorest nations. A period of prolonged high prices is bad for all oil producing nations, including Saudi Arabia, and they are […]

     
  • “Out in the Blue” Part 9 of Video Series “Distant Arabia”
     

    In this clip excerpted with permission from the documentary The Prize: The Epic Quest for Oil, Money and Power based on the book of the same name by Daniel Yergin, the story of Tom Barger’s first journey to Saudi Arabia is related through his movies and letters. The complete story is told in Barger’s book […]

     
  • GE wins $200mn power plant conversion contract in Saudi Arabia
     

    GE said it has received a contract for nearly $200 million to supply steam turbine technology, power generation services and distributed control systems for the conversion of Saudi Electricity Co.’s (SEC) PP10 power plant from simple to combined-cycle operation. The project will add 1,300 MW to the plant’s capacity. “The conversion to combined-cycle operation is […]

     
  • 10 Saudi women take fight against breast cancer to Mount Everest
     

    Princess Reema bint Bandar bin Sultan and the Zahra Breast Cancer Association launched a campaign on Tuesday where 10 Saudi women will climb to the Mount Everest base camp in May. The 10 climbers include Jude Al-Aitani, Asma Al-Sharif, Mashael Alhegelan, Mona Shahab, Noura Bouzo, Raha Al-Moharrak, Lina Almaeena, Samaher Mously, Hatun Madani, Alya Al-Sa’ad, […]

     

MUST-READS

  • In Libya, fears of rain, clouds, and climate change

    Three months after thousands of people in Libya lost their lives in devastating floods caused by Storm Daniel, residents of the badly-hit city of Derna are facing the psychological aftermath. Doctors and psychologists with Doctors Without Borders/Médecins Sans Frontières (MSF) have been providing medical care and mental health support for people impacted.

  • Yemen’s Houthis say they launched ballistic missiles at Israel

    Yemen's Houthi group launched several ballistic missiles at military posts in the southern Israeli city of Eilat, the group's military spokesperson said in a statement on Wednesday. Earlier Wednesday, the Mason, a U.S. Arleigh Burke-class destroyer, shot down a drone that originated from a part of Yemen controlled by the Houthi group, a U.S. official said. There were no injuries or damage and it was not clear what the drone was targeting.

  • Oil drops to 6-month low on weak economic outlook

    Oil prices fell on Thursday to six-month lows, as investors worried about sluggish energy demand in the U.S. and China. Brent crude futures dropped 48 cents to $73.82 a barrel by 12:48 p.m. EST (1748 GMT). U.S. West Texas Intermediate crude futures fell 33 cents to $69.05. Both benchmarks posted their lowest prices since late June. "With the largest global importer of oil (China) shuttering its thirst for crude, pressure remains on prices as the largest producer, the United States, continues with headline output," said PVM Oil analyst John Evans.

  • Al Jazeera says 22 relatives of Gaza correspondent killed by Israeli shelling

    Qatar-based Al Jazeera Media Network said an Israeli bombardment on Wednesday killed 22 relatives of its Gaza correspondent Moamen Al-Sharafi and condemned the operation. "The horrific event unfolded today at Jabalia Camp, where Moamen's family sought refuge, leading to the killing of his father, mother, three siblings and his children," the network said in a statement.

  • COP28: will there be an agreement to phase out fossil fuels?

    It's the issue at the core of COP28: will this year's U.N. climate talks, held in major oil producer the United Arab Emirates, produce the first global agreement to phase out fossil fuel use? Burning fossil fuels for energy is by far the biggest cause of climate change. It is also the engine of modern life - even with the growth of renewables, fossil fuels produce around 80% of the world's energy. U.N. climate negotiations over the last three decades, however, have yet to address the issue head on.

  • Saudi Economy Shrinks 4.4% In Third Quarter On Plunge In Oil Sector

    The country’s oil activities plunged by 17% year-on-year in the quarter, while non-oil and government activities rose by 3.5% and 1.9%, respectively, in the quarter, according to the General Authority for Statistics (GASTAT).

  • Viewpoints: Saudi Arabia forecasts $21 billion deficit in 2024

    Saudi Arabia approved its 2024 budget on Wednesday, which forecasts a fiscal deficit of 79 billion riyals ($21.06 billion) or 1.9% of GDP next year, as it pushes ahead with plans to bolster its non-oil sectors as part of plans to diversify its economy.

  • Watch Oil Analyst Sankey Says Saudi May Try to ‘Dump the Market’

    Paul Sankey, founder and lead analyst at Sankey Research, says Saudi Arabia may “dump the market and try to make everyone honest again” in the second quarter of next year out of frustration with production from Iran and the US.

  • U.S. still wants to see Saudi-Israel normalisation, energy envoy says

    "I think that not every road is a straight road and sometimes it goes in different directions first. But the goal is still the same," Hochstein said speaking on the sidelines of an industry event in the United Arab Emirates. "And we remain as committed to that goal of regional integration, and it's not just about Saudi Arabia and Israel, it has to be much broader than that."

  • Future for elite golf ‘murky’ with PGA Tour-Saudi alliance in limbo

    "There's a lot of moving parts on how we're going to play. Whether it's here on the PGA Tour or it's merging, or team golf. There's a lot of different aspects that are being thrown out there all at once." After a year of acrimony, the two parties and Europe-based DP World Tour announced in June a bombshell framework agreement to house their commercial operations in a new entity. PIF, the main financial backer of LIV Golf, would serve as the exclusive investor.