MUST-READS

• Saudi Arabia and OPEC+ Brace for Impact as Trump Plans New Oil Moves

  In is exceptionally difficult to imagine Saudi Arabia’s Crown Prince Mohammed bin Salman and his United Arab Emirates (UAE) counterpart Sheikh Mohammed bin Zayed al Nahyan disdaining to take an urgent telephone call from President Donald Trump, as they did from President Joe Biden at the height on the energy crisis just after Russia had invaded Ukraine in 2022. However, at its 5 December meeting, selected members of the OPEC+ oil cartel decided to delay the rollback of 2.2 million barrels per day (bpd) of oil production cuts (supposedly being made by Saudi Arabia, the UAE, Kuwait, Kazakhstan, Algeria, Oman, Iraq and Russia) to April from January. Another 3.6 million bpd in output reductions across the OPEC+ group has been extended to the end of 2026 from the end of 2025. By the time of the next full OPEC+ meeting – four full months into the second Presidency of Trump – things may have changed.

• Saudi Arabia Accelerates $2.5 Trillion Mining Plans To Cut Oil Reliance

  According to the IMF, Saudi Arabia, the GCC’s biggest economy, needs an oil price of $96.20 per barrel to balance its books, more than $20 above current oil prices. The situation is not helped by the fact that over the past two years, the oil-rich nation has borne the lion’s share of OPEC+ production cuts after agreeing to cut 1 million barrels per day or nearly half of the group’s 2.2 mb/d in pledged cuts. In effect, Saudi Arabia has been selling less oil at lower prices, thus compounding the revenue shortfall. Emerging reports indicate that mining now plays a central role in Riyadh’s strategy to reduce oil dependency, with the country looking to exploit its significant reserves of phosphate, gold, copper and bauxite. Earlier in the year, Saudi Arabia’s mining minister, Bandar Al-Khorayef, revealed that the Kingdom’s reserve potential had grown by nearly 90% from the US $1.3 trillion forecasted eight years ago to $2.5 trillion. Saudi Arabia has set a goal to increase the mining industry’s GDP contribution from $17 billion to $75 billion by 2035.

• Key questions behind Fifa’s Saudi World Cup decision

  Fifa's confirmation of Saudi Arabia's hosting of the men's 2034 World Cup - despite the country facing years of scrutiny over its human rights and environmental record - will be one of the most controversial steps that football's governing body has ever taken. Yet while many critics will be dismayed at the prospect, few should be surprised given the influence that the kingdom's unprecedented investment in sport has secured. So is the tournament being used to help transform Saudi Arabia's reputation, or can it be a catalyst for social reform? And what does this tell us about Fifa and football more widely? Here, BBC Sport looks at the key questions.

• Saudi PIF Nears Deal to Invest in PGA Tour Enterprises

  The sovereign wealth fund is in advanced talks about taking a roughly 6% stake in the PGA Tour’s commercial arm, said the people, who asked not to be identified because the information is private. An agreement, if reached, would come after months of negotiations, and follow a deal inked earlier this year with Strategic Sports Group, which can invest as much as $3 billion in PGA Tour Enterprises. PIF’s investment could value PGA Tour Enterprises at about $12 billion, matching the terms at which SSG invested, the people said. Terms could change and the potential deal still requires regulatory approval, said the people.

• Acadia, companies eye $9 billion US renewables roll-out
  U.S. investor Acadia Infrastructure Capital and companies including Microsoft (MSFT.O), opens new tab are looking to help develop a $9 billion pipeline of renewable energy projects across the country, the project lead told Reuters. Launching the Climate and Communities Investment Coalition (CCIC) with the technology giant as an anchor member, Acadia Vice President Brian O'Callaghan said it was also talking with companies in sectors including retail and consumer goods.

• MBC Studios Announces Feature Adaptation Of Osamah Almuslim’s Saudi Bestseller ‘Travellers’ Hell’

  MBC Studios had unveiled plans for a feature adaptation of Saudi bestseller Travellers’ Hell (Jahim Al-Abirin) by popular writer Osamah Almuslim. Hana Al-Omair, who directed and co-wrote Netflix’s first original series Whispers, has been tapped to direct the fantasy tale. Almuslim will adapt the screenplay from his original work, with filming slated to take place in Saudi Arabia in the first half of 2025. The news was announced on the fringes of the Red Sea Film Festival in Jeddah, where MBC Studios has been out in force this week.

• Saudi’s new Riyadh Metro sees almost 2 million passengers hop aboard in first week

  Saudi Arabia’s capital marked a historic milestone this month with the launch of its first metro system - and it is already proving to be an instant success with 1.9 million passengers utilizing the transport link in the first week of operations. Riyadh Metro, which began operations on December 1, is a multi-billion-dollar project featureing six color-coded lines spanning 176 kilometers with 85 stations, and has 183 trains manufactured by industry leaders Siemens, Bombardier, and Alstom, establishing itself as the world’s longest driverless metro network. The metro is designed to carry 1.2 million passengers daily, with plans to scale up to 3.6 million, helping to ease traffic jams and reduce reliance on cars.

• Norway plans to protest FIFA and abstain from decision giving 2034 World Cup to Saudi Arabia

  Norway’s soccer federation plans to abstain from giving its approval when Saudi Arabia is confirmed Wednesday as the 2034 World Cup host, saying FIFA has done too little to protect human rights around the tournament. “FIFA’s own guidelines for human rights and due diligence have also not been adequately integrated into the process, increasing the risk of human rights violations,” Norway federation president Lise Klaveness said in a statement Tuesday.

• The Saudi Anticorruption Drive Moves Beyond Frying a Few Big Fish

  Beyond “frying a few big fish,” the kingdom has been devoting extensive effort toward tackling petty corruption, as well. The country’s anti-bribery law, which was first enacted in 1992, was ratified in 2018 and extended later in 2021 to incorporate both the private and non-governmental sectors. Nazaha has ramped up its operations, clamping down on public servants. Currently, Saudi civil servants face the highest risk of prosecution for corruption related crimes within the Middle East. According to our recent analysis drawing on data from national anticorruption agencies, the annual risk of a Saudi civil servant being sanctioned or prosecuted for corruption is approximately one in 658—a figure that compares favorably with Hong Kong (1:845) and Singapore (1:1,000). KSA ranks well ahead of other MENA countries on this metric, such as Jordan, where the risks are one in 1,251; Palestine (1:4,839); and Kuwait (1:66,267).  

• From Oil Kingdom to Mineral Titan? Inside Saudi Arabia’s Ambitious Mining Revolution

  Saudi Arabia is striving to strike a balance between its oil and other mineral resources with the goal of trying to keep its energy dominance intact, something it has managed to do so far with regard to oil production. According to reports, the Kingdom wants to increase the GDP contribution of its mining industry to US $75 billion by 2035, a significant jump from the present day US $17 billion. The Saudi Arabian Mining Company (Ma’aden), a key state-owned enterprise, plays a vital role in implementing the kingdom’s mining strategies, forming partnerships to develop mineral resources and managing major projects. To further boost mining initiatives, Saudi Arabia has introduced a $182 million exploration incentive program and issued 33 more mining licenses.

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