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Recent stories from sustg
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World Bank’s Women, Business and the Law Report says Saudi Arabia Top Reformer, Improver Among 190 Economies
- January 15,2020
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- SUSTG Team
The Kingdom of Saudi Arabia has realized a remarkable leap in the World Bank’s Women, Business and the Law 2020 report, with a score of 70.6 out of 100 and achieving the honor of being the top improver over the last year, according to reports.
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Saudi Arabia launches third phase to build up solar power capacity, invites bidders for new projects
- January 9,2020
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- SUSTG Team
Saudi Arabia’s energy ministry has issued a request for qualifications for the third round of the Kingdom’s National Renewable Energy Program (NREP), which comprises of “four Solar PV projects with a combined generation capacity of 1,200 MW,” the Saudi Press Agency said.
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Saudi Arabia’s Spending Cuts Could Reduce the Kingdom’s ‘Fiscal Vulnerabilities’ to Oil Price Fluctuation, IIF Says
- December 16,2019
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- SUSTG Team
Saudi Arabia will lower government spending in 2020 as the Kingdom’s economic and social reforms start to kick in. That could help reduce Saudi Arabia’s medium-term fiscal vulnerabilities to lower oil prices, the Institute of International Finance (IIF) said, and put Saudi on track for a balanced budget by 2023.
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Saudi Arabia to Grant Citizenship to ‘Scientists, Intellectuals and Innovators’ From Around the World
- December 5,2019
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- SUSTG Team
In a bid to attract top talent and spark innovation in the Kingdom, Saudi Arabia has announced that it would grant full citizenship to “scientists, intellectuals, and innovators” from key sectors and focuses, according to reports.
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Saudi Arabia Gears Up to Host G20 Summit; Saudi FM Travels to Japan for Ceremony
- November 22,2019
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- SUSTG Team
Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight. The meeting will be held on November 21–22, 2020, and will be chaired […]
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Saudi Aramco to Seek $1.7 billion valuation with 1.5% Share Float; Cancels International Roadshow
- November 18,2019
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- SUSTG Team
Saudi Aramco is seeking a valuation of up to $1.7 trillion, which would become the world’s biggest IPO and confirm the company as the world’s most valuable. The valuation is below the initial $2 trillion sought by Saudi Arabia’s leadership. The Kingdom is hoping to raise $30 billion on the local Tadawul index by offering 1.5% of the […]
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MODON, GAMI Ink Deal to Promote Investments in Saudi Arabia’s Defense Sector
- November 14,2019
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- SUSTG Team
A new strategic cooperation between the Saudi Authority for Industrial Cities and Technology Zones (MODON) and the General Authority for Military Industries (GAMI) aims to encourage the localization of military industries in the Kingdom, according to the Saudi Press Agency (SPA). The new cooperation “supports the localization of 50 percent of the expenditure in military industries through […]
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Saudi Aramco targets zero flaring by 2030
- November 6,2019
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- SUSTG Team
Saudi Aramco said on Wednesday it was joining the World Bank’s initiative to reduce gas flaring to zero by 2030, and said its flaring was already less than 1% of its total raw gas production in the first half of 2019, Reuters reports. The announcement comes as the company began this week the process of floating shares […]
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Saudi Arabia Names Prince Faisal bin Farhan as New Foreign Minister
- October 24,2019
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- SUSTG Team
Saudi Arabia appointed Prince Faisal bin Farhan Al-Saud as the Kingdom’s new foreign minister as part of a larger reshuffling of the cabinet. Prince Faisal bin Farhan is the third foreign minister in three years. He replaces Ibrahim Al-Assaf, who was relieved of his post and appointed minister of state and a member of the Saudi Council of […]
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Saudi Aramco delays planned IPO until after earnings update, seeks local listing
- October 18,2019
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- SUSTG Team
Saudi Aramco has delayed the planned launch of its initial public offering “in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm,” Reuters reports, citing two sources familiar with the matter. The slight delay allows Saudi Aramco to reassure investors by first presenting results covering the period in which two […]
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MUST-READS
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Aramco HomesAramco showcases expertise in building residential complexes
The company has granted 65,000 home loans since 1951 through its “Home Ownership Program” to help employees build or buy suitable housing.
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KAUSTNew Aramco research center at KAUST ready by mid-2019
The facility will include laboratories and offices to support research in the areas of chemicals, intelligent systems, solar energy, reservoir engineering, computational modeling, and environmental protection.
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Wind EnergySaudi Aramco, GE to launch first wind turbine in Kingdom
Saudi Aramco plans to commission its wind turbine pilot project, the first in the kingdom, next month, the state oil company said on Sunday, part of nationwide plans to diversify energy supplies and to meet an increase in demand.
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Saudi AramcoSaudi Aramco in deals with foreign firms in push for local content
State oil giant Saudi Aramco signed deals with several foreign companies as part of a drive to expand the kingdom’s industrial base and manufacture a bigger share of products domestically.
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Saudi Oil StorageJapan, Saudi Aramco extend Okinawa crude storage deal
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said it signed a contract with the world's top exporter Saudi Aramco on Wednesday to extend a crude oil storage deal on the island of Okinawa by three years.
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Saudi AramcoSaudi Arabia Ready for Aramco’s Share Sale in Domestic Market
Saudi Arabia is ready for the initial public offering of Saudi Arabian Oil Co. in the domestic market, with additional work needed if there is a decision to sell shares in more than one country, according to the vice chairman of the kingdom’s market regulator.
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Saudi AramcoSaudi Aramco inaugurates $800 million cultural center in Dhahran
Saudi Aramco opened an $800 million cultural center in Dhahran on Thursday, underlining the wide range of commitments the world’s biggest oil company has made as the kingdom tries to transform its economy.
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AramcoSaudi Aramco scientists achieve new world record
This achievement opens the door for us to simulate the Saudi Arabian peninsula in its entirety, as one model, using the reservoir simulation grid.
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Aramco IPOPromise of $1bn fees from Saudi Aramco IPO has London bankers in a frenzy but greater transparency is the real prize
The stake sale is expected to amount to only 5 per cent of Aramco’s total shares, but even that would amount to US$100 billion, which is four times what China’s Alibaba raised two years ago.
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Offshore Drilling RigsRowan, Saudi Aramco to create new offshore drilling company
Rowan (NYSE: RDC) has just disclosed its intent to form a joint offshore drilling company with Saudi Aramco. This is huge news for the offshore drilling market, so let's look at the details of the announcement.
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