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  • Aramco CEO calls for investments in oil & gas and ‘more credible’ energy transition plan

    On the other hand, Aramco’s CEO underscored that the energy transition plan has been “undermined by unrealistic scenarios and flawed assumptions” as many were led to assume that “major oil use sectors would switch to alternatives almost overnight,” but oil demand came surging back after lockdowns, as did gas. According to Nasser, solar and wind currently account for 10 per cent of global power generation, and less than 2 per cent of the global primary energy supply, thus, he believes that “this is the moment to increase oil and gas investments, especially capacity development.”

  • Aramco CEO calls for investments in oil & gas and ‘more credible’ energy transition plan

    “When you shame oil and gas investors, dismantle oil- and coal-fired power plants, fail to diversify energy supplies (especially gas), oppose LNG receiving terminals, and reject nuclear power, your transition plan had better be right. Instead, as this crisis has shown, the plan was just a chain of sandcastles that waves of reality have washed away.”

  • Big oil companies are spending millions to appear ‘green.’ Their investments tell a different story, report shows

    An analysis from London-based energy and climate think-tank InfluenceMap found that the amount of climate-positive messaging used by five major oil and gas companies – BP, Chevron, ExxonMobil, Shell, and TotalEnergies – is inconsistent with their spending on low-carbon activities.

  • Aramco VC Fund Turns to Global Investments in Saudi Startup Push

    “Many global start ups see the next expansion avenue in the region as funding is available in plenty and they can have an edge by potentially relocating into Saudi Arabia and the GCC,” he said. “We will attract firms from those sectors and position the kingdom as the center of gravity for these global ventures.” To tap these opportunities, Wa’ed has increased the size of its typical investment to $20 million from $5 million, Alidi said.

  • Aramco VC Fund Turns to Global Investments in Saudi Startup Push

    Wa’ed will invest about $100 million this year after spending around $50 million over the past nine years, Chief Executive Officer Fahad Alidi said in an interview. Its $200 million fund is planning 11 investments in the second half. On top of fintech and e-commerce, the firm will expand into sectors such as deep tech, space tech the metaverse and sustainability.

  • Saudi Arabia positioning itself as ‘world’s leading investment opportunity’: Expert

    There are various business types available to foreign companies in the Kingdom: Subsidiary Company, Branch Office, Joint Stock Company, and technical and Scientific Services Office (TSO), all of which have their advantages, requirements, and differing scope of business activities and registration requirements. The most common type of business entities established by foreign investors entering the Saudi market are limited liability companies (LLC) which require a minimum capital investment of around $133,100 (500,000 Riyals) and can have a minimum of two shareholders and limited to a cap of 50 shareholders.

  • Saudi Arabia’s startup investment poised to set new record

    Venture-backed startups in Saudi Arabia have been bolstered by a confluence of favorable trends in recent years—including low interest rates, increasing urbanization, demand for online groceries, pro-business reforms and a sharp rise in oil revenues. The momentum has catapulted VC deal value in the region, reaching more than $425 million so far this year, on pace to surpass record levels of 2021, according to PitchBook data.

  • Saudi Arabia’s startup investment poised to set new record

    As part of the Kingdom's Vision 2030 strategy, the country launched the Financial Sector Development Program to move toward a cashless society and enable financial institutions to support the private sector. The latest in the slew of freshly funded startups in the region is Tamara, a provider of a buy now, pay later platform. The company raised $100 million in a round led by Sanabil Investments, Arab News reported.

  • Investment Challenges Affecting the Oil and Gas Industry

    The unprecedented crisis generated by the COVID-19 pandemic has affected the investment in the oil and gas sector, which was already suffering from low investment levels, among other reasons due to the climate change misconceptions. This report analyzes the main challenges negatively impacting investments in the sector, focusing on the four most important problems: price volatility, uncertainties due to significantly diverging long-term forecasts, increasing climate change concerns, and the lack of regulation on environmental and social, and governance.

  • Global LNG investments to hit $42 billion in 2024, report shows

    These greenfield investments are 200 times compared to the amount in 2020 when only $2 billion was invested in LNG developments due to the pandemic. However, project approvals after 2024 are expected to slow down as governments transition away from fossil fuels and accelerate investments in low-carbon energy infrastructure.