QUOTED

“Aramco has demonstrated the full power of the Saudi market…[W]e believe the Saudi market will continue to be a strong and vibrant market for IP0s in 2020.”

-Mohammed Ali Yasin, chief strategy officer at Al Dhabi Capital Ltd in Abu Dhabi. [reuters.com]

TOP STORY

CLIMATE

Saudi Arabia’s 2018 CO2 Emissions Fall Faster Than Expected

saudi-industry1

Latest data for the year of 2018 show that emissions in Saudi Arabia have fallen significantly for the first time, down 4.4% or 26 million tons, according to researchers at the King Abdullah Petroleum Studies and Research Center (KAPSARC). [more]

 

TOP STORY

OIL PRICES

Report: Saudi Arabia Pushing for a ‘Major, Short-Term Oil Production Cut’

Organization of the Petroleum Exporting Countries along with Russia and its allies will curb oil output by a collective 1.2 million barrels a day.

OPEC and its allies are “considering cutting their oil output by a further 500,000 barrels per day (bpd)” with eyes on mitigating the impact on oil demand from the coronavirus, Reuters and the WSJ report. [more]

 
 

MORE TOP STORYLINES

Saudi King and Putin Discuss Oil Market After Virus Slams Prices

Via Ilya Arkhipov and Dina Khrennikova in bloomberg.com : OPEC and its allies only recently started a fresh round of deeper production cutbacks, the latest step in a three-year effort to prevent plentiful U.S. shale supplies putting the global market into surplus. But the outlook has deteriorated rapidly in the last few weeks as the coronavirus clouds the outlook for the global economy.

Saudi Foreign Minister Doesn’t Want US Troops to Leave Iraq

Via Dale Gavlak in voanews.com : Iraq resumed joint military operations last week with the U.S.-led coalition to fight Islamic State after a nearly three-week pause that followed heightened tensions with Baghdad over Washington’s targeted killing of a top Iranian general, Qassem Soleimani, on Iraqi soil in January.

Video: Hordes of locusts block out the skies in Saudi Arabia

Via Thomas Shambler in esquireme.com : Residents of Saudi Arabia took to social media this week to post the bewildering sight of a swarm of 360 billion (with a B) of locusts. The massive locus swarm measures roughly the size of New York’s island of Manhattan, and has caused tens of millions worth of damage. It has already devastated parts of East Africa, and the worst is yet to come.

 

MORE ON THE KINGDOM AND BEYOND

Netflix screening ‘big boost’ to Saudi filmmakers

“Six Windows in the Desert,” a series of short films created by Saudis, will make its Netflix debut on Thursday, streaming in 190 countries. After buying...[via arabnews.com]

 

Saudi Officials Hold Talks with US Special Envoy for Syria

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah has met with US Deputy Assistant Secretary for Levant Affairs and Special Envoy for Syria Joel...[via aawsat.com]

 

More Than A Dozen Saudi Oil Firms Book Hefty Losses In 2019

A total of 14 Saudi companies in the energy sector booked hefty losses last year, Middle East Monitor reported on Wednesday, quoting analysts who had...[By Tsvetana Paraskova via oilprice.com]

 

Trekking to the Most Beautiful Wadi in the Middle East

Wadi Lejab is this magical spot somewhere on the map of the Al-Raith mountains in Saudi Arabia. After driving for 2 days from Riyadh, we...[By Eva zu Beck via youtube.com]

 

Inaugural Saudi Cup To Be Televised On FS1

Live coverage of the inaugural Saudi Cup airs Saturday, Feb. 29 at noon Eastern on FS1. The field for the Saudi Cup, the world's richest...[via paulickreport.com]

 

Can I Fly to Riyadh? Emirates Air to Limit Access to Saudi Arabia

Saudi Arabia suspended entry for nationalities holding tourist visas and coming from: Greater China, Iran, Italy, Korea, Japan, Thailand, Malaysia, Indonesia, Pakistan, Afghanistan, Philippines, Singapore,...[By Layan Odeh via bloomberg.com]

 

Sports minister launches Saudi Games, Kingdom’s largest sporting event

The event will feature 40 games with the participation of 35 sports federations in 18 venues within Riyadh....[via arabnews.com]

 

Aramco Is Said to Start Early Preparations for Overseas Listing

The world’s largest publicly traded company is in discussions with Wall Street banks to draw up scenarios for a second listing overseas, according to the...[By Matthew Martin, Dinesh Nair, and Ishika Mookerjee via bloomberg.com]

 

Saudi cuts March oil volumes to China by at least 500,000 bpd

Saudi Arabia, the world’s top oil exporter, is reducing crude supplies to China in March by at least 500,000 barrels per day (bpd) due to...[By Alex Lawler via reuters.com]

 

OPEC+

OPEC+ Consults China for Urgent Analysis of Virus Threat to Oil

The unusual appearance at the cartel’s headquarters of Wang Qun, China’s ambassador to international organizations in Vienna, underscores how the outbreak has upended the global...[By Grant Smith, Salma El Wardany, and Javier Blas via bloomberg.com]

 

Turkey in the Region

Turkey targets Syria troops in deadly counterattack

Turkey's President Recep Tayyip Erdogan has vowed to continue Ankara's operation in Idlib, Syria, after at least four Turkish soldiers were killed during "intensive shelling"...[via dw.com]

 

Iraq

Can Iraq’s new prime minister nominee navigate Baghdad’s political chaos?

Salih named Mohammed Tawfik Allawi as his designee for the premiership. Salih has set a deadline for February 1 for Iraq’s parliament to elect a...[via atlanticcouncil.org]

 

Saudi-Iran

Iran wants to resolve issues with Saudi, UAE quickly: Iranian official

Iran wants to resolve differences with its Gulf foes Saudi Arabia and the United Arab Emirates “as quickly as possible”, Tehran’s ambassador to Iraq told...[By John Davison and Babak Dehghanpisheh via reuters.com]

 

Libya

Libya envoy pushes for lasting ceasefire at Geneva talks

The talks, likely to last all week, represent progress since for days Khalifa Haftar – the general who leads the self-styled Libyan National Army, based...[By Patrick Wintour via theguardian.com]

 

War in Yemen

Saudi Arabia and Yemen’s rebels were making rare progress in peace talks. Then new violence flared.

While McKenzie said the recent fighting did not aid prospects for peace, he identified Iran’s support for the rebels as the bigger problem. “It is...[By Missy Ryan and Kareem Fahim via washingtonpost.com]

 

Afghanistan

Violence Must Stop Before Afghanistan Peace Agreement, Pompeo Says

“We got close once before to having an agreement, a piece of paper that we mutually executed, and the Taliban weren’t able to demonstrate either...[By Edward Wong via nytimes.com]

 

EU-Iran

EU top diplomat holds talks in Iran ‘to de-escalate tensions’

Borrell’s trip, his first to Iran since taking office, follows a spike in tensions between Washington and Tehran after the January 3 assassination in Baghdad...[via timesofisrael.com]

 
 

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