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Oil in Downward Spiral as Global Markets Push Prices to Fresh Lows
- August 25,2015
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- SUSTG Team
Recent turmoil in global markets, originating in China and spreading to markets globally, have put added pressure on an already battered price of oil as investors look for the bottom. Oil has fallen by about $60 in the last year, and instability in markets this week has increased downward pressure on the commodity with a 6% […]
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Saudi Super Cup in London Brings Saudi Football Fans a Taste of Home Sport in the United Kingdom
- August 14,2015
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- SUSTG Team
Saudi Arabian football clubs Al-Nassr and Al-Hilal squared off in the King’s Cup, the championship of the Saudi Professional League, in the United Kingdom to the delight of Saudi nationals in the UK. The UK print and online newspaper The Guardian noted that while the quality of the game may not have compared to the English Premier League gold standard, […]
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Saudi Drawdown on Reserves Continues, but Slows to Lowest in 8 months – Jadwa Chartbook
- August 12,2015
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- SUSTG Team
Saudi Arabia continued to drawdown on reserves in June, but at the lowest rate in 8 months, according to a recently released report by Jadwa Investment. Riyadh-based Jadwa found net withdrawals from Saudi government accounts fell to their lowest point in eight months, with $3 billion of net withdrawals in June while foreign reserves fell by $7.6 billion […]
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Deputy Crown Prince Mohammed bin Salman Orders Aid to Yemen as Gains for Saudi-backed Forces Continue
- July 24,2015
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- SUSTG Team
Saudi-led coalition land forces operating in Yemen have seen gains in recent weeks following the initiation of Operation Golden Arrow to recapture the city of Aden on July 16, according to DefenseNews.com. Saudi Arabia’s Brig. Gen. Ahmed Al-Assiri told Al-Arabiya television in an interview on July 22 that “[Saudi] are supporting the legitimate corps in the […]
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Saudi Arabia’s King Salman’s Outreach to Hamas Leader Seen as Widening Effort to Counter Iran through Arab Unity
- July 21,2015
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- SUSTG Team
King Salman’s historic meeting last Friday with Hamas leader Khaled Meshaal “was part of an effort by Riyadh to shore up Arab unity in the face of a perceived threat from Iran that it believes has become more urgent since last week’s nuclear deal,” writes Angus McDowall in Reuters. Meshaal, who was on pilgrimage to […]
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Improvement in Demand, Slowdown in Shale Output Push Oil Market Prices Up 13% in 2Q 2015: Jadwa Investment
- July 8,2015
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- SUSTG Team
Oil prices are rebounding steadily following a low point at the beginning of 2015, according to a recently released analysis of the oil market by Riyadh-based Jadwa Investment. Jadwa Chief Economist Dr. Fahad Alturki said that a general improvement in oil demand and slowdown in the rate of growth in US shale oil output combined […]
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Saudi Oil Export Revenues Down 46% in 2015 as Drawdown on Net Foreign Assets Continues
- June 30,2015
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- SUSTG Team
Saudi Arabia exported 1.4 billion barrels of oil in the first half of the current year for a total revenue value of SAR305 billion ($81.33 billion), according to latest figures. These revenue figures are down about 46% from the same period last year. The Kingdom also consumed about 23% of all the oil it produced for […]
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Large Jump in May Oil Shipments to China Moves Russia Past Saudi Arabia
- June 23,2015
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- SUSTG Team
Russia has leaped ahead of Saudi Arabia as the top oil supplier to China, according to Bloomberg, as the race to supply the world’s second-largest oil consumer heats up. Bloomberg: “China imported a record 3.92 million metric tons from its northern neighbor in May, according to data emailed by the Beijing-based General Administration of Customs on Tuesday. […]
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Saudi Arabia’s Shura Council Votes ‘No’ On Proposed Unity Law
- June 22,2015
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- SUSTG Team
A new proposal to implement a new legal system to “protect national unity” was voted down by Saudi Arabia’s 150-member Shura Council as “unnecessary,” according to reports in the Saudi Gazette. Put forth by the Islamic and judicial committee, the proposal “implies the necessity of establishing an entire legal body to deal with one issue, which is […]
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Saudi Arabia Reduces Crude Exports, Refining More at Home
- June 19,2015
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- SUSTG Team
Saudi Arabia reduced crude oil exports in April but used record supplies domestically for a burgeoning refining industry, Bloomberg’s Wael Mahdi reports. Shipments in April fell by an average of 160,000 barrels a day, down to 7.6m BPD from 9m BPD in March. The March shipments were the highest in almost a decade, according to […]
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MUST-READS
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SudanDeath toll rises to 60 following Sudan crackdown
At least 60 people are dead and over 300 injured after troops stormed the main camp of pro-democracy protesters in Sudan's capital Monday, according to the Central Committee of Sudan Doctors (CCSD).
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Global Oil MarketsOil falls to lowest since January on economic slowdown
Oil prices fell on Tuesday to their lowest since January on signs that an economic slowdown is starting to dent energy demand and as Russia’s top oil producer said it opposed extending joint cuts with OPEC until the end of the year.
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Oil MarketsDirty Fuel Clampdown Risks Nosedive for Middle East Crude
The global push for cleaner-burning ship fuel is threatening to drive the value of Middle East crude to a record low even as supplies are squeezed. The discount of Middle East’s Dubai crude to London’s Brent could widen beyond $8 a barrel from current levels around $4, according to Citigroup Inc. That would be the largest discount on record in data back to 2006, according to PVM Oil Associates. The spread is growing even as physical demand for Gulf grades rises as buyers try to replace barrels lost to Iranian sanctions.
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U.S.-IranTrump tries to tamp down talk of war with Iran
The tone contrasted with a series of moves by the U.S. and Iran that have sharply escalated tensions in the Middle East in recent days. For the past year, national security adviser John Bolton and Secretary of State Mike Pompeo have been the public face of the administration's "maximum pressure" campaign against Tehran.
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WWE in KSAGoldberg returns to face The Undertaker in WWE Super ShowDown match in Saudi Arabia
In addition to the first-ever Goldberg vs. Undertaker meeting, WWE also announced that Super ShowDown in Saudi Arabia will feature another chapter in the Triple H vs. Randy Orton rivalry as well as a 50-man battle royal, the largest ever in company history.
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QatarQatar Doubles Down On LNG Expansion Despite Saudi Blockade
Tiny gas-rich Qatar is pushing through with its plans to solidify its top spot as the world’s largest liquefied natural gas (LNG) player both in terms of liquefaction capacity and exports.
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Taliban TalksKabul on lockdown as assembly discusses peace with the Taliban
Afghanistan's usually bustling capital Kabul slowed to a crawl Tuesday amid massive security for a high-stakes peace summit that has previously been a target for insurgent attacks.
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AirbusAirbus keeps targets after Saudi writedown takes shine off earnings
European planemaker Airbus stuck to full-year financial targets after reporting slightly higher-than-expected core first-quarter profit, overshadowed by weaker cash and charges related to a German ban on defense exports to Saudi Arabia.
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Islamic StateFactbox: After ‘caliphate’ defeat, Islamic State is down but not out
Its involvement is not always proven, but even if the link is ideological rather than operational, Islamic State still poses a security threat in many countries.
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Expo 2020 DubaiSaudi Arabia Unveils Massive “Window to the Future” for Expo 2020 Dubai Pavilion
The Kingdom of Saudi Arabia has unveiled the design of its pavilion for the Expo 2020 Dubai. The project will cover an area the size of two football pitches as the second-biggest in size only to that of the United Arab Emirates.
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