Saudi Arabia expects to throttle back domestic energy consumption by 2030 by up to the equivalent of 2m barrels of oil per day, in line with the Kingdom's Vision 2030 economic and social reform initiative, according to comments made by Khalid Al-Falih published by Reuters.
Photographs of Crown Prince Mohammed bin Salman and some of Saudi Arabia's top officials visiting some of Saudi Arabia's most famous mountains in the Northwest region of the country have gone viral on social media.
The report is based on interviews with 50 CEOs of organizations in Saudi Arabia for their thoughts and insights on the potential opportunities that they have while preparing for the challenges that lie ahead, Chairman Abdullah Al Fozan said.
The price of oil on international indices has rebounded for a second straight trading day after leaders from Saudi Arabia and Russia indicated that production cuts were likely to stabilize oversupplied markets, according to reports.
A personal call between President Donald Trump and King Salman Saudi Arabia helped to finalize an agreement in which the Kingdom will buy Lockheed Martin’s $15 billion THAAD missile defense system, according to reports.
In an interview with Bloomberg, Saudi Aramco's CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects.
A recently released macroeconomic update by Jadwa Investment finds the fundamentals of the Saudi economy remain unaltered and the bank "expects solid growth in the next few years" by 2.2 percent in 2018 (compared to -0.9 percent in 2017).
Saudi Arabia has adjusted some targets within its five-year National Transformation Plan (NTP), making changes to metrics on the official document that can be found on the Kingdom's Vision 2030 website.