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Saudi Arabia Makes First Purchase of Wheat from Kingdom-Owned Farm
- April 27,2020
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- SUSTG Team
Saudi Arabia has made its first purchase of wheat grown from an overseas farmland investment in Ukraine, Reuters reports, as the Kingdom makes progress on a years-long shift toward agricultural imports and water conservation goals.
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‘We are looking into any opportunity’, PIF Chief Says as Saudi Eyes Value Investments
- April 24,2020
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- SUSTG Team
Saudi Arabia’s head of its Public Investment Fund, Yasir Al-Rumayyan, said the fund is looking to make more value investments in the weeks and months to come with global markets down as a result of the Coronavirus pandemic.
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Saudi Arabia May Re-Route Tankers if U.S. Blocks or Adds Tariffs on Kingdom’s Oil During Record Glut
- April 22,2020
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- SUSTG Team
Saudi Arabia is preparing to look for alternative destinations for its U.S.-bound crude oil in the event that President Trump adds tariffs or refuses to allow those shipments to offload, sources told Reuters.
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COVID-19-Induced Oil ‘Demand Destruction’: Jadwa Sees Saudi Crude Production at 9.4 mbpd Average in 2020
- April 20,2020
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- SUSTG Team
With a bleak outlook for oil demand growth in 2020 by OPEC, and recent pledged cuts agreed to by the so-called OPEC+ group of producers last week, Saudi Arabia is set to produce about 2 million barrels per day less on average compared to previous forecasts, Jadwa Investment writes in a new quarterly oil market […]
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As Ramadan Approaches, Saudi Arabia Prepares for Holy Month Under Coronavirus Restrictions
- April 17,2020
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- SUSTG Team
For Saudis and other Muslims around the world, the approaching month of Ramadan will look different this year as governments take preventative measures to safeguard their citizens from the coronavirus.
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After Coronavirus Hit in 2020, Saudi Economy to Grow 2.9% in 2021, IMF Says
- April 15,2020
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- SUSTG Team
Saudi Arabia’s economy is forecast to contract 2.3 percent in 2020, with non-oil GDP expected to contract by 4 percent due in part to the global recession caused by the spread of the deadly coronavirus, the IMF said.
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Women’s Historic Inaugural Golf Event in Saudi Arabia Rescheduled for October
- April 14,2020
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- SUSTG Team
The first women’s professional golf event to be staged in Saudi Arabia, the Aramco Saudi Ladies International presented by Public Investment Fund, has been rescheduled for Oct. 8-11, receiving a new date after postponement last month due to the coronavirus pandemic.
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Russia, Saudi Arabia and OPEC Reach Deal for Historic Production Cuts
- April 13,2020
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- SUSTG Team
Russia, Saudi Arabia and OPEC reached a historic deal on oil production cuts over the weekend, agreeing to cut almost 10 percent of global supply with Russia and Saudi Arabia bearing the brunt of the cuts.
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Saudi Arabia, Russia Agree on Oil Cuts, Hope to Finalize Participation from Mexico, U.S.
- April 10,2020
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- SUSTG Team
Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies, Reuters reports, after the two heavyweights agreed on the cuts but Mexico “walked out” of talks yesterday at the last minute.
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Saudi Arabia’s PIF Bulks Up Energy Holdings with $1 Billion in Four Major European Oil Companies
- April 9,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has “amassed stakes worth roughly $1 billion in four major European oil companies,” the WSJ reports, as the deep-pocketed sovereign wealth fund goes on a buying spree of assets on the cheap amidst a global economic downturn.
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Global Oil MarketsWith new spare capacity, Russia joins ranks of oil’s swing producers
“We have said we have some 300,000 bpd of spare capacity but today our potential is even higher because companies kept investing (during the production cuts),” he said, confirming that Russian spare capacity was around 500,000 bpd.
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War in YemenHouthi rebels video fails to prove Saudi troop capture claim
But the video broadcast on Sunday instead shows what appear to be rebels firing at vehicles on a road. This is followed by footage of several burnt-out vehicles, as well as assorted light weaponry laid out on the ground and a group of men not in military uniforms marching down a dirt road.
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Russia in the RegionShifting Landscape: Russia’s Military Role in the Middle East
According to the Russian defense minister, the military has since learned to fight in an entirely new way. Establishing long-term bases on Syria's Mediterranean coast has made the Kremlin's regional bid more credible still, and arms sales are fortifying its position.
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Oil Facility AttacksSaudi Oil Capacity Recovers Faster Than Expected From Attack
It has now restored production at the Abqaiq and Khurais facilities to the levels they were operating at before the attacks, said the people with knowledge of presentations Aramco made to industry analysts in Dhahran on Wednesday ahead of the IPO it plans to kick off next month. A representative for Aramco had no immediate comment.
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Capital MarketsSaudi CMA says amendment of capital market law will allow establishing other exchanges
The amendment to Saudi capital market law will allow for establishing of other exchanges in the country, the Capital Market Authority (CMA) Chairman Mohammed bin Abdullah Elkuwaiz said on Wednesday
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Drone AttacksAramco Saudi Arabia: Attacks on oil supply wipe out spare capacity
The country’s national oil company, Saudi Aramco, has 35 to 40 days of supply to meet contractual obligations, according to a source close to the matter.
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TransportationSaudi Arabia’s Flyadeal looks for more A320 capacity ahead of Neo deliveries
But in an interview with The National on the sidelines of the Aviation Festival in London, the airline’s chief executive Con Korfiatis said the airline is undergoing “a changeover period”. Last December, it placed an order for 50 Boeing 737 Max aircraft that were meant to begin delivering this year.
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'Rewards for Justice'US offers cash to tanker captains in bid to seize Iranian ships
According to US officials, the US has recently started using the programme in its efforts to target Iran’s Islamic Revolutionary Guard Corps, and will offer rewards of up to $15m for information that helps the US disrupt Iranian illicit activities.
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InnovationSaudi Arabia’s innovation landscape
A KAUST Innovation Committee has been formed under the chairmanship of Andrew Liveris, former CEO of KAUST research and development partner Dow Chemical Company. The committee is creating a national innovation workshop involving many innovation partners such as TAQNIA, Monshaat, Badir, Nidlip, RPDC and Industry 4.0.
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CMA FSI RegulationsSaudi Capital Market Authority Announces New Instructions for Foreign Strategic Investors’ Ownership in Listed Companies
The FSI Instructions have removed the existing limit on the foreign ownership of a Saudi-listed company for foreign strategic investors (FSIs) that meet the FSI Instructions’ criteria, allowing them to take controlling stakes in Saudi-listed companies.
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