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  • Saudi crude oil exports to China to fall for 3rd straight month in July, sources say

    Saudi crude oil exports to China will fall in July for a third straight month to about 36 million barrels amid plant maintenance and as some refiners opted for other sources of cheaper oil, several trade sources said on Tuesday.
    The reduction underscores the challenge the world's top oil exporter faces in maintaining market share in the world's largest crude import market.
    July exports are expected to be down from about 39 million barrels in June, possibly the lowest levels for the year, the sources said.

  • Opinion: ‘The Line’ in Saudi Arabia Is a Spectacle, but That Doesn’t Make It Smart

    While Saudi Arabia’s decision to build a very tall linear city may seem bizarre, there are clear benefits to stacking buildings atop one another and connecting them with walkways at different heights and transit lines. Residents can get from one end of the city to the other in just 20 minutes without ever setting foot in a car.

  • Saudi Arabia, Brazil Hope to Kindle Investment With Deeper Ties

    Their relationship started with chicken exports in the 1970s. And now the bond is becoming a way for the Global South heavyweights to diversify their trade ties and insulate their economies from geopolitical risk.

  • Saudi Arabia’s move to allow non-Saudis to set up law firms

    In a post on its X platform, the NCC sought opinion of the public with regard to a proposal by the Ministry of Justice for a project to amend the first paragraph of Article 50 of the Kingdom’s Code of Law Practice. The amendment aims to allow foreign law firms, licensed to practice the profession in the Kingdom, to establish a professional company, wholly owned by non-Saudis, to provide legal advice in Saudi regulations, and to plead before the courts in accordance with the controls specified by the regulations, through a Saudi lawyer registered in the register of practicing lawyers.

  • Saudi Foreign Minister arrives in Russia to participate in BRICS meeting

    Saudi Minister of Foreign Affairs Prince Faisal bin Farhan arrived in Nizhny Novgorod, Russia, on Monday to participate in the BRICS ministerial meeting to be held on Tuesday. The Saudi minister's visit comes at the invitation of the Russian Foreign Minister. Saudi Arabia is attending the meeting as an invited country to join the group. During the meeting, the Foreign Minister will discuss with the BRICS countries issues and priorities of mutual interest, international developments, and global challenges. He will also hold a number of bilateral meetings on the sidelines of the conference.

  • Saudi Arabia debt issuance ramps up to finance Vision 2030 projects

    GCC governments have issued about $45 billion in bonds and sukuk so far this year, putting the region’s sovereigns on track for the most debt issuance since 2020. The volume has increased significantly this year, with the first half of 2024 alone reaching well above the $33 billion issued in the whole of last year.

    Oil prices have averaged $83 per barrel so far this year, similar to the average for last year, and several countries that have issued bonds and sukuk this year are expected to run budget surpluses in 2024, including the UAE and Qatar.

  • Saudis Said to Hand About 60% of Aramco Offer to Foreigners

    Foreign investors were allocated about 60% of the shares on offer in Saudi Aramco’s $11.2 billion stock sale, people familiar with the matter said, marking a turnaround from the oil giant’s 2019 listing that ended up as a largely local affair.

  • Saudi Arabia committed to cooperate in global efforts to protect marine resources, says climate affairs envoy

    Saudi Arabia’s climate envoy, Adel Al-Jubeir, on Saturday said the Kingdom is committed to cooperate with the international community in enhancing efforts to protect oceans and marine resources. Al-Jubeir, who is also minister of state for foreign affairs and a member of the Council of Ministers, reaffirmed the Kingdom’s commitment in a speech at Ocean Action: Immersed in Change, a high-level event in the Costa Rican capital, San Jose, the Saudi Press Agency reported.

  • Saudi Red Sea Authority Partners With The Khaled Bin Sultan Living Oceans Foundation

    We are thrilled to announce a significant new partnership between the Khaled bin Sultan Living Oceans Foundation and the Saudi Red Sea Authority (SRSA). This collaboration marks a major milestone in our ongoing efforts to advance marine conservation and promote sustainable marine tourism in the Saudi Arabian Red Sea. The partnership was officially established today with the signing of a memorandum of understanding (MoU) in Riyadh, Saudi Arabia. The signing ceremony was attended by prominent representatives from both organizations, including Mr. Mohammed Al-Nasser, Acting CEO of SRSA, and HRH Princess Hala bint Khaled bin Sultan Al-Saud, president of the Khaled bin Sultan Living Oceans Foundation.

  • Saudi Arabia to establish independent network to serve industrial and business sectors

    The Communications, Space and Technology Commission (CST) announced that the Global Digital Integrated Solutions Company (Aramco Digital) has qualified to obtain a Specialized Radio Network License in the 450 MHz band after completing the regulatory procedures for the license. The license aims to serve the industrial and business sectors by establishing a dedicated network independent from mobile networks, operating on the latest global wireless technologies.