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  • Saudi Arabia awards $31.7 billion Contracts in First Quarter 2024

    The value of awarded contracts witnessed an astounding surge during Q1’24 as the value reached SAR118.8 billion ($31.7 billion). This continues the impressive pace that was witnessed in 2023, which finished the year with SAR270.6 billion ($72.2 billion) in awarded contracts. The value of awarded contracts during Q1’24 grew by 79 percent YoY and marks the second highest value during a quarter on record since Q3’15, when it reached SAR147.1 billion ($39.2 billion).

  • Parsons Awarded over $160 million Contracts in Saudi Arabia

    The Projects including a confidential $41 million contract for technical consulting, $60 million of additional scope on existing contracts, approximately $30 million of new work for a resort and marina and new work supporting a Saudi developer.

  • Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

    Saudi Arabia has some of the biggest gas reserves in the world. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030.

  • Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

    Saudi Aramco has awarded construction contracts worth $25 billion for the development of its Jafurah gas project, as it looks to boost production of the fuel considered a key part of plans to reduce plant-warming emissions. The contracts awarded include $12.4 billion for increasing gas output at Jafurah, plus $8.8 billion for expanding the so-called master gas system, which delivers natural gas to customers around the country, according to a statement. Aramco also awarded $2.4 billion in contracts for gas rigs.

  • Saudi Arabia Warns of Misleading Hajj Visa Practices by Foreign Companies

    Saudi Arabia has raised concerns about tourism companies from other countries misleading visa holders into taking part in the Hajj pilgrimage. Talal Shalhoub, security spokesperson for the Saudi Interior Ministry, announced on Monday that these companies issued visas not intended for Hajj and encouraged travelers to break regulations by arriving in Mecca two months ahead of the pilgrimage season, the Saudi Press Agency reported.

  • Sinopec awarded $1.37 Billion Contract from Saudi Aramco

    Sinopec International Petroleum Services Corporation, a wholly-owned subsidiary of Sinopec Oilfield Service Corporation and Saudi Arabian Oil Company (Saudi Aramco) entered into a turn-key fixed-price contract for the in-country procurement and construction of Packages 6 and 7 of the Phase 3 Pipeline Project Clusters of the Master Gas System (“MGS”),

  • Saudi’s National Building awarded $93.3 million Contract for Residential Units in Riyadh

    National Building and Marketing Co. (NBM), Saudi Arabia announces the signing of a contract worth SAR 350 million for constructing villas and residential apartments (Granada Riyadh Project) with Al-Fayzia Real Estate Development Co. As part of the contract, the company will carry out the infrastructure and superstructure works, construct, finish, implement and supply all project building materials, administrative follow-up and implementation of all related services until the project is ready for investment.

  • Five impacts of the Gaza war to watch

    Support for the United States was not high in the Middle East prior to October 7, 2023 and strong US support for Israel has always angered the Arab public. Still, the mass casualties caused by Israel’s post-October 7, 2023 operations, coupled with President Joe Biden’s strong support for Israel, have caused public indignation towards the United States to reach new heights. From my conversations with business leaders and experts in the region, there is a concerning level of outrage with US policy, which is perceived as both amoral and damaging to the region’s ability to develop economically.

  • Latest Saudi textbooks reflect an increasingly positive shift toward Jews, Israel – IMPACT-se

    Saudi Arabia’s school curriculum has shown positive improvements in tolerance and inclusivity and significant moderation of anti-Israel material, a new study by The Institute for Monitoring Peace and Cultural Tolerance in School Education (IMPACT-se) revealed Tuesday.

  • Hezbollah introduces new weapons and tactics against Israel as war in Gaza drags on

    Hezbollah has regularly fired missiles across the border with Israel over the past seven months, but the one on Thursday appears to have been the first successful missile airstrike it has launched from within Israeli airspace. The group has stepped up its attacks on Israel in recent weeks, particularly since the Israeli incursion into the southern city of Rafah in the Gaza Strip. It has struck deeper inside Israel and introduced new and more advanced weaponry.