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QUOTED
“An enduring focus on oil security is a consequence of the continued need for oil to fuel cars, trucks, ships and aircraft, as well as to produce the petrochemicals necessary to manufacture countless everyday items.” IEA energy security analyst Ronan Graham and IEA energy security researcher Ilias Atigui, OPEC Voices Encouragement after IEA Affirms Support for Oil Security [Rigzone]
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TOP STORY
Non-oil economic activity in Saudi Arabia contributed 50 percent to the Kingdom’s gross domestic product in 2023, the highest level ever, the Ministry of Economy and Planning said on Thursday.
The total non-oil economy was worth $453 billion at constant prices, driven by continued growth in investment, consumption and exports.
[more]
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MORE TOP STORYLINES
Via Mary Clare Jalonick and Ellen Knickmeyer in apnews.com: Schumer, the first Jewish majority leader in the Senate and the highest-ranking Jewish official in the U.S., strongly criticized Netanyahu in a 40-minute speech Thursday morning on the Senate floor. Schumer said the prime minister has put himself in a coalition of far-right extremists and “as a result, he has been too willing to tolerate the civilian toll in Gaza, which is pushing support for Israel worldwide to historic lows.”
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Via Nour Fakharany in archdaily.com: The mosques construction was completed within six months and spearheaded by Wajnat Abdulwahed, the spouse of the late Abdulaziz Abdullah Sharbatly. Aimed at fostering serenity amongst worshipers while integrating natural light, the mosque also features distinctive minarets, creating a landmark within the neighborhood.
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Via Maria-Cristina Florian in archdaily.com: Commissioned by Diriyah Company, HKS Architects have revealed the design for a new multisport arena in Diriyah. Envisioned as a catalyst for the local culture and the entertainment sector, the 20,000-seat venue will be located in the center of The City of Earth, a 76,000-square-meter development aligned with Saudi Vision 2030, aimed at becoming one of the most attractive venues for tourism in the Middle East.
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MORE ON THE KINGDOM AND BEYOND
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More than 200,000 people converged at the conference, including Adam Selipsky, chief executive of Amazon’s cloud computing division, who ...[By Adam Satariano and Paul Mozur via nytimes.com]
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Diriyah Gate, one of the first Saudi giga-projects, said this week that it was on target for completion by late 2027.
The opening of the project’s...[By Andrew Hammond via agbi.com]
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His comment is significant because, like LIV Golf’s team competition and shotgun starts, the...[By Cindy Boren via washingtonpost.com]
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The recently released book “Battleground – 10 Conflicts that Explain the New Middle East” by historian Christopher Phillips provides a useful overview of ten ongoing conflicts...[By Christopher Phillips via thecipherbrief.com]
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A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse...[By Larry Elliott via theguardian.com]
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The regional upswing also defies oil production cutbacks which have all weighed on economic growth in the region as seen from International Monetary Fund’s latest...[By Issac John via khaleejtimes.com]
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Speaking at the event titled “Industrial policies to promote economic diversification,” the top official said there have been fundamental changes in the legislative and economic regulations to...[via arabnews.com]
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From April 22 to 25, 2024, the 26th World Energy Congress convened in the Netherlands, drawing participation from the Kingdom of Saudi Arabia’s energy industry....[By Pooja Chandak via solarquarter.com]
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Henning Larsen Architect has just revealed the designs for The Jeddah Opera House, a new local landmark in Saudi Arabia. Drawing inspiration from the historical...[By Nour Fakharany via archdaily.com]
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One of Saudi Arabia's top universities has announced a Red Sea project described as the world’s largest coral reef restoration.
...[By Daniel Bardsley via thenationalnews.com]
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The National Debt Management Center announces the closure of April 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total amount allocated was...[via mof.gov]
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The month-on-month decline in imports from Russia comes amid lower discounts offered by Russia. Russia has been the largest source of crude for...[By Rituraj Baruah via livemint.com]
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Two major U.S. law firms are opening offices in Saudi Arabia following a change last year in...[By David Thomas via reuters.com]
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Spending on the information and communication technology (ICT) market in Saudi Arabia is expected to reach about $37.4 billion by the end of 2024, showing...[via argaam.com]
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Set within the landmark Mediateca Santa Teresa library in Milan’s Brera district, Design Space AlUla presented a smattering of projects...[By Ryan Waddoups via surfacemag.com]
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Hamas has presented a Gaza ceasefire proposal to mediators and the U.S. that includes the release of Israeli hostages in exchange for freedom for Palestinian...[By Samia Nakhoul via reuters.com]
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In a speech delivered Thursday on the Senate floor, Schumer declared that Prime Minister Benjamin Netanyahu’s extremism, especially in his refusal to tone down the...[By Fred Kaplan via slate.com]
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Pressure kept building Thursday, as Senate Majority Leader Charles E. Schumer (D-N.Y.) warned that Israel risked becoming an international “pariah” if Netanyahu remained in power....[By Shira Rubin and Yasmeen Abutaleb via washingtonpost.com]
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With ally Hamas under attack in Gaza, the head of Iran's Quds Force visited Beirut in February to discuss the risk posed if Israel next...[By Samia Nakhoul, Parisa Hafezi and Laila Bassam via reuters.com]
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The poll also found that most Americans who think Israeli actions were not justified say the United States is at least partly responsible for Israeli...[By Shibley Telhami via brookings.edu]
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