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Trump’s Complex Global Business Interests Could Present Problems for President-Elect
- November 22,2016
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- SUSTG Team
President-elect Donald Trump’s complex business dealings before and during his candidacy for the office, and now after his victory on November 8th, continue to draw scrutiny from the media and elected officials in the United States. The president-elect has drawn additional attention for his initial meetings with world leaders that apparently mix his business and family […]
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Saudi, Russia Energy Ministers to Meet in Doha as Output Cut Deadline Looms
- November 16,2016
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- SUSTG Team
Saudi Arabia and Russia energy ministers will meet in Doha, Qatar this week on the sidelines of Gas Exporting Countries Forum (GECF), industry sources quoted by the Wall Street Journal said. The meeting comes as OPEC and non-OPEC members try to solidify an oil output limiting deal agreed to in September. OPEC is hoping to complete […]
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Saudi Arabia’s Former Minister of Petroleum and Natural Resources Ali Al-Naimi Pens Memoir
- November 4,2016
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- SUSTG Team
Saudi Arabia’s former Minister of Petroleum and Natural Resources Ali Al-Naimi has penned a memoir that offers “a rare insight into decades of domestic infighting over the future of state-run Saudi Aramco,” Reuters reports. Out of the Desert: My Journey from Nomadic Bedouin to the Heart of Global Oil, published by Portfolio Penguin, “describes the battles waged […]
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US Customs Facilities Coming to Riyadh, Jeddah Airports to Add Convenience, Efficiency to U.S.-Saudi Travelers
- October 27,2016
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- SUSTG Team
The United States Customs and Border Protection (CBP) will soon set up facilities at Riyadh and Jeddah airports to process U.S.-bound passengers’ arrival documents before landing in the U.S., the Saudi Gazette reports, citing a person with knowledge of the situation who spoke with the Okaz Arabic daily. Long delays and extra screenings have become standard for […]
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Yemen Ceasefire Tested by Missiles, Airstrikes
- October 21,2016
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- SUSTG Team
The 72-hour U.N.-backed truce in Yemen came under duress on Thursday when missiles fired from inside the war-torn country killed two civilians in Saudi Arabia, while a Saudi-led coalition launched air strikes that Iran-allied Houthi fighters said killed three people, according to reports. The U.N.-brokered ceasefire began late on Wednesday, which “brought Sanaa its first night without air strikes in […]
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72-Hour Ceasefire in Yemen Set for Wednesday Night
- October 18,2016
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- SUSTG Team
The United Nations Special Envoy to Yemen announced a 72-hour cease-fire to begin Wednesday night, after he received commitments from all of the country’s warring factions, according to reports. Ismail Ould Cheikh Ahmed said the cessation of hostilities will begin at 8:59 p.m. UTC Wednesday and could be renewed after the initial three-day period. Twice […]
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U.S. Responds to Missile Strikes from Yemen, Destroys 3 Radar Sites
- October 13,2016
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- SUSTG Team
The U.S. military struck three radar sites in Houthi-controlled territory on Yemen’s Red Sea coast, the Pentagon said in a statement. The strikes were aimed at preventing future missiles from being launched toward U.S. warships. “These limited self-defense strikes were conducted to protect our personnel, our ships, and our freedom of navigation in this important […]
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Yemen’s Houthis Fire Another Missile into Saudi Arabia as Kingdom, Iran Spar at UN over War
- October 12,2016
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- SUSTG Team
Saudi Arabia says it has shot down a ballistic missile fired into the Kingdom by Houthi rebels and their Iranian allies in the latest incident in Yemen’s civil war that has raged for nearly 19 months. The missile targeted the southwestern city of Khamis Mushait and was destroyed Tuesday night without causing any injuries, the Saudi Press […]
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Deadly Coalition Missile Attack on Funeral in Yemen Draws International Condemnation, Prompts U.S. Review of Support
- October 10,2016
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- Lucien Zeigler
The ongoing conflict in Yemen was further inflamed this weekend after a missile attack on a funeral hall killed over 160 civilians, sparking outrage across the war-torn country. Yemeni officials and witnesses are blaming the Saudi-led coalition fighting in Yemen for the attack, which threatens to significantly alter the war’s course. The coalition initially denied […]
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Top Saudi Investment Officials in New York for Two-Day JPMorgan Chase Event
- October 4,2016
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- SUSTG Team
Saudi Capital Market Authority Chairman Mohammed Al-Jadaan and Tadawul stock exchange Chief Executive Officer Khalid Al Hussan are among officials attending a two-day event in New York City this week organized by JPMorgan Chase & Co., Bloomberg reports. According to Bloomberg, senior representatives of the kingdom’s economy ministry and central bank will also be present. The […]
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MUST-READS
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U.S. to hold its biggest offshore wind auction
The auction's scale marks a major step forward for offshore wind power in the United States, which has lagged European nations in developing the technology. Currently, the United States has just two small offshore wind facilities, off the coasts of Rhode Island and Virginia, along with two additional commercial-scale projects recently approved for development.
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U.S. sanctions on Russia not targeting energy markets – State Dept official
Actions the Biden administration took on Tuesday and may take soon to punish Russia's economy over its aggression in Ukraine are not intended to hit global energy markets, a senior U.S. State Department official said. Western nations on Tuesday imposed new sanctions on Russian banks and elites after Moscow ordered troops into separatist regions of eastern Ukraine.
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U.S. eyes 100-strong Mideast sea drone fleet with security partners
The United States Navy and security partners will patrol Middle East waters with 100 unmanned vessels next year to improve deterrence against attacks, like those presented by Iran, the U.S. Fifth Fleet commander said on Monday. The region is vital for global trade, especially oil supplies that flow out of the Gulf via the Strait of Hormuz.
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U.S. Imports of Saudi Oil Are Set to Drop Amid Price Hikes, Refinery Maintenance
Shipments from the kingdom are forecast to drop to about 400,000 barrels per day in both February and March, from an average of 500,000 barrels per day in the three prior months, according to energy intelligence firm Kpler. American refineries typically conduct seasonal maintenance during February and March, leaving additional volumes for Riyadh’s more-profitable Asian market. The planned repairs are set to conclude by the spring when refineries gear up for the high-demand summer season.
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U.S., Saudi officials discuss managing market pressures from possible Russian invasion
U.S. officials held discussions with Saudi Arabia about a "collaborative approach" to managing potential market pressures stemming from a possible Russian invasion of Ukraine, the White House said on Thursday. "In Saudi Arabia, State Department Special Envoy for Energy Affairs Amos Hochstein joined Brett McGurk (coordinator for the Middle East and North Africa) to discuss a collaborative approach to managing potential market pressures stemming from a possible Russian invasion of Ukraine," the White House said in a statement.
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Europe’s Energy Crisis Pays Off for U.S. Natural-Gas Sellers, Global Traders
Europe’s gas crisis began to unfold in the fall and led prices to record highs on Dec. 21 of more than €180 a megawatt-hour, equivalent to $205. Vessels carrying American LNG to markets around the world set a new course for Europe, and in December the U.S. surpassed Qatar on a weekly basis to become the biggest LNG exporter in the world for the first time. In the following month, the U.S. supplied almost half of the record 11.7 million metric tons of LNG delivered into Europe, according to market-intelligence firm Kpler.
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U.S. sea level to rise by 2050 as much as in past century, NOAA says
The study forecasts that sea levels along the U.S. shoreline will rise 10-12 inches (25-30cm) on average by 2050. Sea levels will tend to be higher along the Atlantic and Gulf shores, because of greater land subsidence there, than along the Pacific coasts.
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Saudi PIF held nearly $56 billion of U.S.-listed stocks in December 2021
Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric car maker Lucid, it said in a U.S. regulatory filing. The fund's Lucid holdings were valued at $38.6 billion as of December, up from $25.8 billion at the end of September, the filing showed.
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Saudi PIF held nearly $56 bln of U.S.-listed stocks in December 2021
Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric car maker Lucid (LCID.O), it said in a U.S. regulatory filing.
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U.S. to Deploy F-22 Jets, Warship to Help UAE Fend Off Houthi Attacks
The U.S. plans to deploy a squadron of Lockheed Martin’s F-22 fighter jets in addition to moving guided-missile destroyer USS Cole to help the United Arab Emirates fend off attacks from Yemen’s Houthi rebels. The USS Cole “will patrol the waters of the UAE, working closely with UAE air defenders to protect their nation,” General Kenneth F. McKenzie, commander of the U.S. Central Command, told state-run WAM news agency. “And then additionally, over the next week or so, we’re going to bring in a squadron of F-22 fighter jets.”
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