MUST-READS

• Desert Rock – carved into the Saudi Arabian mountains – opens its doors

  The resort’s 54 villas and ten suites are ingeniously integrated into the natural environment, some seeming to hang from rocky pinnacles, others built into the mountain itself with cliffside plunge pools. The Cliff Hanging Villas are perched high above the resort, these villas feature dramatic views of the desert and mountains, offering an extraordinary combination of serenity and adventure. Desert Rock embodies Red Sea Global’s commitment to sustainability, responsible tourism, and luxury. Every aspect of the resort, from its architecture to its service, has been designed with a focus on preserving the unique environment and enhancing key terrestrial habitats, while offering guests an unforgettable experience powered entirely by sunlight. Desert Rock is the perfect destination for travellers seeking a luxurious escape in one of the world’s most pristine landscapes.

• Saudi Reef Forum Sets New Milestones for Sustainable Development

  Organized by the Ministry of Water, Environment and Agriculture, the three-day event was recognized by Guinness World Records as the most attended agricultural forum in the world, bringing together around 70 speakers and nearly 5,000 visitors, including representatives from government entities, academia, businesses, local farms, and NGOs. The event highlighted the importance of rural communities and the role of public-private partnerships in rural development, aligning with the UN Sustainable Development Goals and Saudi Vision 2030.

• Saudi Arabia Becomes Top Buyer Of Russian Fuel Oil

  Saudi Arabia was the leading buyer of Russian seaborne fuel oil and vacuum gasoil (VGO) exports in November, LSEG data has revealed. According to Reuters calculations based on LSEG data, Russian fuel oil and VGO exports grew  6% month-on-month in November to about 4.26 million metric tons. Asian countries have become top buyers of Russia's fuel oil and VGO ever since the European Union imposed a full embargo on Russian oil products in February 2023. India is no longer the biggest buyer of Russian crude. According to the Centre for Research on Energy and Clean Air (CREA), India’s imports of Russian crude fell a massive 55% in November--the lowest figure since June 2022--despite Russia continuing to sell its oil at a discount. India has lately been trying to diversify its oil supplies

• Saudi Arabia reopens its Afghanistan embassy

  The Saudi embassy in the Afghan capital, Kabul announced that it had resumed services from Sunday, more than three years after the kingdom withdrew its diplomats following the Taliban takeover of Afghanistan. “Based on the desire of the government of the kingdom of Saudi Arabia to provide all services to the brotherly Afghan people, it has been decided to resume the activities of the mission of the kingdom in Kabul starting on December 22,” the embassy posted on X. There was no immediate comment from the Saudi ministry of foreign affairs on the resumption of diplomatic services, and the level of representation remains unclear.

• Great Power Competition in the Red Sea

  In recent months, as the United States has lifted restrictions on Ukrainian strikes into Russian territory, Russia has countered by increasing its support for the Houthis and the group’s attacks on commercial shipping in the Red Sea. Russia has already provided satellite tracking data of commercial vessels to the Houthis through Iranian intermediaries and is now threatening to supply the group with advanced anti-ship missiles. Such a move would allow the Houthis to present an even greater threat, potentially even endangering U.S. warships patrolling the waters.

• For the OPEC+ Oil Producers, a Year of Caution Paid Off

  With all the uncertainty clouding the picture, OPEC+ adopted a cautious approach throughout 2024, maintaining production levels without change in efforts to balance the market and prop up prices that were weighed down by tepid Chinese demand and higher non-OPEC+ output, mainly from the United States. It was largely successful in preventing what some analysts expected would be a slide below $70 per barrel. Benchmark Brent crude oil averaged $80.91/bbl as of December with prices trading within a tight range between $71/bbl and $74/bbl in the final trading days of the year. The U.S. Energy Information Administration has forecast that Brent crude oil prices will end the year at an average $80.49/bbl, falling to an average $73.58/bbl in 2025.

• Commentary: The balance of power is shifting in the Middle East – and it is Turkey’s ‘full moon’ on the rise

  Turkey played a pivotal role in the rebels’ surprising triumph. The operation unfolded with an extraordinary lack of the kind of violent destruction that has characterised Syrian campaigns over the past 13 years. Turkey provided intelligence, guidance and political cover. In the early years of the Syrian conflict, dozens of nations offered sporadic support to opposition groups, but Turkey’s commitment to the rebels in the north-western enclave near its border was consistent. Through ceasefires and frozen frontlines brokered since 2019, Turkey ensured that the rebels had the stability to rearm and reorganise. With Iran stretched thin and unable to provide resources and manpower due to Israeli strikes against Hezbollah and Iranian networks in Lebanon and Syria, the collapse of Assad’s regime became not only possible but inevitable. Meanwhile, Russia, preoccupied with its war in Ukraine, offered only limited support to Assad.

• New grain terminal opens in Saudi Arabia

  National Grain Co., a joint venture between the Saudi Agricultural and Livestock Investment Co. (SALIC) and Bahri, inaugurated the Yanbu Grain Handling Terminal on Dec. 22 at Yanbu Commercial Port. The company said the new terminal features a storage capacity of 156,000 tons, including 12 silos with a total capacity of 96,000 tonnes and a flat warehouse with a 60,00-tonne capacity, a 650-meter conveyor belt, and a ship grain unloading capacity of 800 tonnes per hour. The facility, which was constructed over a two-year period, is the first regional center for grains in the Yanbu port. It can handle up to 3 million tonnes of grain annually, including barley, corn and soybeans, the company said.

• The presence of women in Saudi press conferences

  The overall results show that the recent empowerment of Saudi women has led to an increase in their participation, rising from complete absence to nearly 14% of the questions asked. This shift may also encourage journalists to broaden their focus from women’s issues to other pressing topics of greater public interest. However, while female participation in the Saudi workforce has risen from 17% to 36%, their involvement in press conferences remains underrepresented. This suggests that certain areas of the workplace may require more time to advance, potentially through further training and education.

• 66 endangered species released into King Khalid Royal Reserve

  The National Center for Wildlife (NCW), in collaboration with the Imam Abdulaziz bin Mohammed Royal Reserve Development Authority, has released 66 endangered species into the King Khalid Royal Reserve. As part of the initiative, the NCW has reintroduced 40 Arabian Oryx, 10 addax, 6 Nubian Ibex, and 10 Houbara Bustards. This effort forms a key component of a breeding and reintroduction program aimed at enriching the reserve's biodiversity, restoring ecological balance, enhancing sustainability, and promoting eco-tourism.

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