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Recent stories from sustg
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Latest Data: Improvements in Saudi Arabia’s Labor Market in Line with Pick-up in Overall Economic Activity
- February 3,2021
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- SUSTG Team
Unemployment in Saudi Arabia declined to 14.9 percent in Q3 2020, the latest date for which such data are available, down from 15.4 percent in Q2 2020, a recent report from the Riyadh-based Jadwa Investment finds, citing figures from the official General Authority for Statistics.
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List of World’s Top Golfers Competing at Third Saudi International Grows as Kevin Na Commits
- January 21,2021
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- SUSTG Team
The field of competitors for next month’s Saudi International powered by Softbank Investment Advisers is growing as another top golfer in the world has joined some of the sports biggest names confirmed to compete in Saudi Arabia. Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is […]
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$5 Billion Hydrogen Project JV Planned for NEOM Hires Financial Advisor – Report
- January 13,2021
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- SUSTG Team
A three-organization joint venture hydrogen project between Air Products, NEOM, and ACWA Power has hired financial firm Lazard to advise on a planned $5 billion hydrogen project in the NEOM high-tech business zone in Saudi Arabia, according to a Reuters report, citing sources.
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Gulf Rift Ends after 42 Months; Qatari Emir Heads to GCC Summit as Skies, Borders Re-Open
- January 5,2021
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- SUSTG Team
Saudi Arabia and other GCC nations effectively ended their 42 month-long rift with neighboring Qatar on Monday, signaling a new era in Gulf political and economic relations and bringing to a close a long dispute begun in June 2017.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
- December 29,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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Saudi Arabia’s Tourism Minister: Kingdom Needs to Inject $200 Billion into Industry — Report
- December 22,2020
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- SUSTG Team
Saudi Arabia’s tourism minister Ahmed Al-Khateeb dismissed naysayers of the Kingdom’s ambitious tourism plans, telling Arab News‘ Frank Kane in an exclusive interview that the Kingdom’s target of obtaining 100 million visits by 2030 is not overambitious with big investments in the industry.
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Houston-Based Baker Hughes, Saudi Aramco to Develop Oil, Gas Products Using Nonmetallic Resources
- December 9,2020
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- SUSTG Team
Saudi Aramco and Houston-based Baker Hughes have announced the formation of Novel, a 50/50 Joint Venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector, the companies said in a press release.
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Saudi Economy More Resilient than Expected in Q2, Q3 2020; Recovery Possible Next Year – Jadwa Investment
- November 27,2020
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- SUSTG Team
Saudi Arabia’s economy proved to be more resilient than expectations in the face of dual crises of the Coronavirus pandemic and a drop in oil prices in 2020, Jadwa Investment writes in an economic update.
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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
- November 19,2020
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- SUSTG Team
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
- November 10,2020
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- SUSTG Team
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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MUST-READS
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Saudi AramcoSaudi Aramco to supply extra 2 million barrels/month to Indian Oil from July
Saudi Aramco will supply Indian Oil Corp Ltd an extra 2 million barrels of crude every month during July-December, an executive of the state-run Indian company said on Friday, as New Delhi looks to make up for the loss of supplies from Iran due to U.S. sanctions.
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BlockchainBlockchain Firm Raises $6 Mln From Major Energy Companies, Saudi Aramco Subsidiary
The investors purportedly expect Data Gumbo’s blockchain-as-a-service platform to improve oil and gas supply chains by eliminating disputes and enabling automated payments, as well decreasing reconciliation times between supply chain counterparts.
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Shale OilSaudi Aramco Is Said to Consider Shale Investment With Equinor
Saudi Aramco is weighing a potential investment in Norwegian oil company Equinor ASA’s U.S. shale operations in what could be the energy giant’s first ever overseas venture for gas exploration, according to people familiar with the matter.
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Saudi AramcoSaudi Aramco Said to Give Extra Oil to Hungry Asian Buyers
State-run producer Saudi Aramco will sell additional cargoes to customers in the world’s biggest oil-consuming region for June loading, according to people with knowledge of the matter. The shipments will be on top of those scheduled under long-term crude contracts, they said, asking not to be identified because the information is confidential.
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Shale GasSaudi Aramco Sees Shale Gas as Kingdom’s Next Energy Bonanza
Now, with improved technology, Aramco is seeking unconventional gas at the South Ghawar and Jafurah deposits in eastern Saudi Arabia, Nasser said.
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Saudi AramcoSaudi Aramco Looks To Bolster Gas Business Through Joint-Ventures
At the end of February, Nasser said that Saudi Arabia aims to export as much as 3 billion cubic feet of gas per day by 2030 as part of its goal to boost the international footprint of its natural gas business.
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Saudi BudgetAramco Cash Behind Saudi Oil Revenue Rise That Puzzled Analysts
“We received royalties, tax, dividends and special dividends in the first quarter, like we did last year” from Aramco, Al-Jadaan told Bloomberg Television in an interview in Riyadh on Thursday.
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Saudi AramcoAramco’s bond is “only the beginning”, Saudi energy minister says
Saudi Aramco, the world's biggest oil producer, will remain active in the debt markets after its debut $12 billion bond earlier this month, which was "only the beginning", Saudi Energy Minister Khalid al-Falih said on Wednesday.
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SASREFAramco to buy Shell’s stake in Saudi refining JV for $631 million
Saudi Aramco Shell Refinery Co (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd).
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Future Projects ForumSaudi Aramco partners with the Saudi Contractors Authority fostering collaboration at ‘Future Projects Forum’
More than 600 upcoming Saudi Arabia construction projects worth $130 billion (SR500 billion) were presented to approximately 1,500 contracting professionals at the Middle East’s first and largest contracting forum held in Riyadh recently.
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