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Work to Begin on 400-megawatt Dumat Al Jandal Wind Power Facility in Saudi Arabia
- July 22,2019
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- SUSTG Team
Saudi Arabia will begin producing wind energy at the Dumat Al Jandal site within three years to offset domestic oil consumption and diversify its energy supply, according to reports. Work will begin soon on Dumat Al Jandal, the Kingdom’s first major wind power facility, located in the Al-Jouf province in the north of Saudi Arabia, near the […]
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PIF Acquires Stake in Jasara Program Management Co., Agrees to $10b Loan Terms
- July 16,2019
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Jasara Program Management Co., a joint venture between Saudi Aramco and Jacobs Engineering Group, three people familiar with the matter told Bloomberg. The PIF acquired 30% of Jasara Program Management Co. from Saudi Aramco and 10% of the joint venture from Jacobs, one of the people told Bloomberg, […]
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‘Expanded Reach’ for SIDF to Mining, Logistics and Energy Projects – Report
- July 10,2019
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- SUSTG Team
Saudi Arabia is reportedly expanding the reach of its $28b Saudi Industrial Development Fund (SIDF) to allow the financing of energy, logistics and mining projects as part of broader efforts to develop the kingdom’s industries. The changes greatly extend the purview of the Saudi Industrial Development Fund, which previously only provided financing to local manufacturing […]
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Princess Reema bint Bandar al-Saud Presents Credentials to President Trump at White House
- July 9,2019
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- SUSTG Team
Saudi Ambassador to the United States Princess Reema bint Bandar Al-Saud presented her credentials to President Trump at the White House on Monday, officially beginning her tenure as the Kingdom’s new top diplomat in Washington. “Presented credentials today at the White House. Conveyed the well wishes of Kingdom’s Leadership. Looking forward to working on strengthening and […]
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Saudi Desalination Plant Struck by Missile from Yemen, U.S. Drone Shot Down – Reports
- June 20,2019
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- SUSTG Team
A Saudi desalination plant was struck by a missile that appeared to come from within Yemen, according to reports. Hours after the statements from U.S. officials, Saudi Arabia confirmed the missile strike, saying it caused no damage or casualties, the Wall Street Journal reports. Shortly after the strike was made apparent, senior U.S. officials met at […]
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Aramco Expats’ The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 1: Madain Salih
- June 14,2019
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- SUSTG Team
Aramco Expats, an online blog that is a resource for current and former Saudi Aramco expatriates and their families, recently published a series of excellent blog posts on the seven wonders of the Arabia – the best heritage sites and historical places in the Kingdom. The blog noted that this list was, in fact, the seven runners up to […]
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UK Petrochemical Company INEOS will Invest $2bn to Build Three Plants in Saudi Arabia
- June 3,2019
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- SUSTG Team
INEOS, one of the world’s largest chemical producers and oil and gas companies, is a privately owned company based in London. “On top of a combined $4bn investment recently announced in the UK and Europe, this is part of a wider Group strategy of globalisation that will stimulate growth and jobs worldwide,” the company said on Twitter. […]
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Vision 2030 economic reforms ‘have started to yield positive results’ in Saudi Arabia, IMF says
- May 16,2019
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- SUSTG Team
The International Monetary Fund (IMF) said that Saudi Arabia’s Vision 2030 economic and social reform plan was starting to pay off for the Kingdom, according to a report issued by the fund after a mission visit. “Economic reforms have started to yield positive results. Non-oil growth has picked-up, female labor force participation and employment have […]
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Bloomberg Economics: Rising Private Sector Spending, Fiscal Stimulus Boost Non-Oil Economy
- May 10,2019
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- SUSTG Team
Rising private sector consumption and government fiscal stimulus measures are expected to give a boost to the non-oil Saudi economy, Bloomberg Economics reports. “BE expects non-oil growth to average 2.6% this year, up from 2.1% in 2018, helped by fiscal stimulus, a lower drag from monetary policy and improved private consumption,” the outlet revealed in […]
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Saudi Arabia Replaces Head of Civil Aviation by Royal Decree Amid Airport Delays
- May 8,2019
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- SUSTG Team
Saudi Arabia replaced the head of its civil aviation authority on Wednesday, Reuters reports, appointing Abdelhadi Al-Mansouri president of the General Authority for Civil Aviation (GACA). Al-Mansouri’s appointment fills a position that has been vacant officially since January, when his predecessor, Abdelhadi Al-Mansouri, was dismissed. He was appointed in June 2017. No details were given on the […]
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MUST-READS
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Saudi AramcoSaudi Aramco buys remaining 50 percent of rubber joint venture from Lanxess
Saudi Aramco has completed its acquisition of a 50 percent stake in Arlanxeo, its Netherlands-based joint venture with chemicals firm Lanxess, to become the full owner of the company, it said in a statement on Monday.
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Saudi AramcoSaudi Aramco sets up fuel retail subsidiary as part of downstream business push
The move is part of Aramco’s overall strategy of further enhancing its crude production, increase its refining capacity and invest in its consumer-facing business.
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Saudi AramcoSaudi Aramco’s Motiva eyes $6.6B petrochemical expansions
The Houston subsidiary of Saudi Arabia's national oil company is considering some $6.6 billion worth of investments in its Port Arthur refinery to expand into the petrochemical business.
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TechnologySaudi Aramco, Saudi Information Technology Company to form venture to invest in tech sector
Saudi Aramco and the Saudi Information Technology Company signed an agreement to set up a joint venture firm that will develop a platform to invest in high potential growth companies in the information, communication, and technology sector, Aramco said on Tuesday.
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Saudi-IndiaSaudi Aramco, ADNOC’s India refinery project delayed by two years
India has delayed the commissioning of a giant refinery that state-owned firms are building in tie up with Saudi Aramco and Abu Dhabi National Oil Co (ADNOC) by two year to 2025, a senior official at the consortium told Reuters on Tuesday.
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Saudi AramcoSaudi Aramco Awards BHGE Major Well Services Contract for Conventional Fields in Saudi Arabia
Baker Hughes, a GE company, has been awarded a major stimulation and well-testing contract by Saudi Aramco to be a partner in optimizing production from new and existing wells across conventional fields in Saudi Arabia.
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Saudi AramcoSaudi Aramco aims to become gas exporter with $150 billion investment drive
Saudi Aramco’s gas expansion strategy needs $150 billion (117.55 billion pounds) worth of investments over the next decade as the company plans to increase output and become an exporter, its chief executive said on Tuesday.
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IKTVASaudi Aramco to hold 4th annual IKTVA Forum and Exhibition for best practices in local content
IKTVA seeks to develop a reliable, sustainable supply chain capable of sourcing 70 percent of its energy sector materials and services requirements locally. By 2030, the program also aims to establish 30 training centers helping 360,000 highly skilled graduates take on the jobs of the future.
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Aramco-SabicSaudi Aramco-Sabic Deal: More Fodder For IPO Skepticism
Saudi Aramco buying Sabic is the perfect illustration of what has gone wrong with the long-promised Aramco IPO. So reports of difficulties around financing the acquisition are … more perfect?
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Oil and GasSaudi Aramco ‘on way to becoming gas powerhouse’
Saudi Aramco has outlined to Arab News how it plans to massively ramp up its multibillion-dollar natural gas business, both in the Kingdom and overseas, as gas gradually replaces coal and oil in global power generation.
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