MUST-READS

• NextDecade, Saudi Aramco sign 20-year LNG supply deal
  U.S. liquefied natural gas (LNG) provider NextDecade (NEXT.O), opens new tab has signed a non-binding agreement with Saudi Aramco (2222.SE), opens new tab to supply 1.2 million tonnes per annum (MTPA) of LNG for 20 years, the companies said on Thursday.
  The deal comes at a time when Aramco is seeking to strengthen its position in the LNG market, which is set to grow globally by 50% by 2030, especially in the United States, where LNG capacity is set to almost double over the next four years.
  • Oilprice.com - Saudi Aramco to Buy LNG From U.S. Rio Grande Project
• Saudi Fintech Rasan Jumps by 30% in Riyadh Trading Debut

  The shares rose to as high as 48.1 riyals, up 30% — the maximum allowed — from the offer price of 37 riyals apiece. That aligns with the strong demand for the stock when the offer was unveiled, with investors putting in orders worth $29 billion and the deal 129 times oversubscribed.

• Formula E returns to Saudi Arabia with new circuit

  Formula E has announced the calendar for Season 11 of the ABB FIA Formula E World Championship, and Diriyah on the outskirts of Riyadh is on the list. Taking place on 14 and 15 February 2025, this marks the race’s seventh instalment of the Diriyah E-Prix in the Kingdom, promising two days packed with high-octane action.

• Saudi Crown Prince Apologizes for Not Attending G7 Summit in Italy

  Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz informed Italian Prime Minister Giorgia Meloni of his inability to attend the Group of Seven (G7) summit on Friday due to Hajj season. In a cable, the Crown Prince said he won't be able to participate in the summit slated for June 14 in Italy due to his commitments to oversee the annual Hajj season. The Crown Prince thanked the Italian prime minister for the invitation to participate in the communication session of the G7 summit. The Prince noted the strength of the relationship between their countries and wished Italian authorities success in hosting the summit.

• Masses of pilgrims in Saudi Arabia circle the Kaaba ahead of the official beginning of the Hajj

  Masses of Muslim pilgrims in the Saudi city of Mecca on Thursday circled the Kaaba, Islam’s holiest site, a day before heading to the nearby desert area of Mina to officially open the Hajj, the annual Islamic pilgrimage that takes the faithful along a route taken by the Prophet Muhammad.

  The area around the Grand Mosque in Mecca was overcrowded by midday, with the faithful going back and forth to the holy site to pray and make the circumambulation, or Tawaf in Arabic.

• Saudi minister inspects National Guard Hajj preparedness

  Prince Abdullah bin Bandar, the minister of the National Guard, inspected the readiness of ministry forces for the Hajj season, the Saudi Press Agency reported. This inspection is part of Saudi Arabia’s efforts to ensure the security of the Hajj, following the directions of the country’s leadership. During his visit to Makkah’s Al-Shara’i district, Prince Abdullah watched a detailed military parade under the theme of “Ease and Reassurance.”

• Latham Advises on Saudi Aramco’s US$11.2 Billion Secondary Offering

  Latham & Watkins has advised the bookrunners on the secondary public offering by The Government of the Kingdom of Saudi Arabia and Saudi Aramco of ordinary shares of Saudi Aramco. The offering comprised a secondary public offering of 1.545 billion shares at SAR27.25 (US$7.27) per share. Latham also represented the underwriters in Saudi Aramco’s landmark IPO in 2019, one of the largest IPOs in history.

• Saudi Arabia holds investment summit in Brazil, plans to invest $15B
  Brazil’s energy minister, Alexandre Silveira, told reporters at the FII Institute summit on Wednesday that the Saudi Public Investment Fund (PIF) plans to invest around $15 billion in Brazil. The investments will be made in sectors including green hydrogen, infrastructure and renewable energy, he said, according to Reuters. The sovereign wealth fund did not immediately comment.

• I drove across Saudi Arabia as a solo woman – and what I discovered may surprise you

  Why?” asked my puzzled friend when I told him I was planning to drive solo around Saudi Arabia. “Because I can – at last,” is the short answer. My fascination with Arabia began when my Dad gave me the book Arabian Sands about Wilfred Thesiger’s heroic crossing of the Empty Quarter. I went on to study Arabic and travel all over the region, but Saudi always felt closed. Now, you can get a tourist visa online in a matter of minutes and women won the right to drive in 2018. It was time.

• Saudi Scouts Association issues maps for pilgrims

  The Saudi Arabian Scouts Association has issued detailed and interactive maps to help pilgrims. The maps include the Mina and Arafat areas, the central area of the Holy Mosque and the Aziziyah neighborhood in Makkah, the entire city of Madinah, the central area of the Prophet’s Mosque, the Al-Naseem neighborhood, and Batha Quraish.

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