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ExxonMobil Announces $20 billion Investment in Manufacturing on U.S. Gulf Coast
Exxon Mobil Corporation said in a press release that it is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period “to take advantage of the American energy revolution.” The projects, at 11 proposed and existing sites, are expected to generate thousands of new high-paying jobs and […]
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Yemen’s President Hadi Says Saudis Gave $10 Billion to Rebuild War-Torn Nation
Yemen’s President Hadi said that Saudi Arabia has given his nation $10 billion to rebuild following nearly two years of civil war, according to reports. The funds will go to restoring electricity and water supply, healthcare, education and communications, according to RT. Hadi defined these as the “urgent priorities” for his government. Saudi officials have yet to […]
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Saudi Arabia Taps U.S.-Based Bechtel Corp to Run State Infrastructure Oversight Office
Saudi Arabia’s new National Project Management Office (NPMO) is something you will hear a lot about in the coming years. The Kingdom has tasked U.S.-based Bechtel Corp to oversee its state infrastructure projects, known in Arabic as “Mashroat,” and ensure that projects are run at low costs and as efficiently as possible. The deal was awarded […]
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Stability in Oil Price Attributable to Coordinated Action by OPEC, But Will U.S. Shale Spoil the Party?
With Brent oil hovering around $55 for the past two months, actions by OPEC and non-OPEC members to keep 900,000 barrels per day off the market have had a stabilizing effect on prices, Riyadh-based Jadwa Investment said in a note released to investors. But despite the stable start to the year, Jadwa sees a likely return of […]
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Saudi Arabia Approves $24.5b for Water, Agriculture, and Environment Spending to Meet Vision 2030 Goals
Saudi Arabia has approved $24.5b for water, agriculture, and environment spending to allow government leaders to meet 16 goals set as part of its Vision 2030 development plan, Reuters reports. The figure was stated by Abdulrahman Al-Fadhli, Saudi Arabia’s minister for environment, water and agriculture at a speech at an industry conference in Riyadh. Reuters reports that […]
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Saudi Energy Ministry Announces New Renewable Energy Plan for up to $50b in Investments
Saudi Arabia appears to be re-starting its efforts to expand renewable energy projects to meet growing domestic power needs with up to $50b invested through 2023, according to reports and comments by the Kingdom’s energy and industry minister Khalid al-Falih. The projects, part of the National Renewable Energy Plan (NREP) will be managed under a […]
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Saudi Arabia Gives Final Approval to VAT
The Saudi Cabinet approved on Monday a GCC-wide measure for implementing a value added tax (VAT) of 5% on certain goods, according to reports. The Unified Agreement for Value Added Tax, which will be implemented throughout the Gulf Cooperation Council (GCC) starting next year, is in line with Saudi Arabia’s goals of diversifying government revenues […]
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Saudi Aramco Selects U.S. Firms to Audit Reserves for 2018 IPO
Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday. Saudi Aramco has asked a unit of oil services firm Baker Hughes – Gaffney, Cline and Associates – to carry […]
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Saudi-backed Softbank Technology Investment Fund Hits $100b Mark Ahead of Schedule
Oracle founder Larry Ellison will join Apple, Qualcomm and Foxconn in backing SoftBank’s record-setting technology fund, allowing the Japanese telecoms group to hit its $100 billion goal weeks ahead of schedule, the Financial Times reports. According to the report, the Saudi-backed fund may be oversubscribed by the time it closes. Abu Dhabi’s sovereign wealth fund is […]
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Four of Seven Saudi Bodies are Returned Home as Kingdom Reels from Lost Youth in Istanbul Terrorist Attack
The bodies of four Saudis who were slain in the attack on an Istanbul nightclub were returned home as the Kingdom reels from the loss of its citizens at the hands of Daesh terrorists abroad. The attack killed seven Saudis and 39 total from 14 countries. Included in the four dead returning to the Kingdom today […]
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MUST-READS
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Commentary: Will Saudi Arabia’s New Ambassador Draw U.S. Deeper Into War in Yemen?
Saudi Arabia and its new ambassador to Washington want to convince the Trump administration to get more involved in the war in Yemen.
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If Saudi Future’s So Bright, Why Can’t These Banks Find Buyers?
Saudi Arabia is about to cast off its oil-dependence, build brand-new industries and open its economy to foreign investment, according to the government. That might make it a good time to buy into a Saudi bank. And substantial stakes in two of them are up for sale.
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Can the bankers sell Saudi Aramco?
Spare a thought today for the hundreds of bankers trapped in the luxury hotels of Riyadh and Dhahran working for on the sale of the century – the privatisation of part of Saudi Aramco, the state oil company.
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A young prince is reimagining Saudi Arabia. Can he make his vision come true?
Mohammed bin Salman said that the crucial requirement for reform is public willingness to change a traditional society. “The most concerning thing is if the Saudi people are not convinced. If the Saudi people are convinced, the sky is the limit,” he said, speaking through an interpreter.
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In Oman, a train-of-succession mystery: Who follows Qaboos?
The childless Sultan Qaboos, who used oil wealth to build the strategically placed nation into an important Gulf Arab player, has put in place a secretive succession process in an attempt to ensure stability, if only for the short term.
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Who Runs the World? Mid-Level Bureaucrats
Among the hundreds of new officials who will take on foreign policy and national security assignments, many will be appointees who serve at the senior advisor or deputy assistant secretary/administrator level, as we did for a combined twelve years under President Barack Obama.
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What’s Trump’s plan for Syria? Five different policies in two weeks
It may not be clear what the US policy toward Syria actually is, including to senior policymakers whose divergent and even contradictory statements have overlapped with one another. But here, at least, is what they have said:
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Can US Warplanes Evade Russian Air Defenses? We May Soon Find Out in Syria
If things go south, high-end American fighters may take on top-of-the-line Russian anti-aircraft missiles.
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Perspective: Is freedom of expression on the rise in Saudi Arabia?
In terms of freedom of expression, the Saudis are more likely to articulate their opinions on Twitter than in local newspapers. Mohammed al-Bishr, the head of the Center for Global Thought on Saudi Arabia, told Al-Monitor that citizens are not interested in newspapers whose editors-in-chief oppose freedom of expression.
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What role will Iran-linked militias play once IS leaves Iraq?
Iraqi Prime Minister Haider al-Abadi said recently that any group taking up arms in Iraq outside the state's official framework will be considered outlaws. However, it seems at least some of the factions fighting under the banner of the Popular Mobilization Units (PMU) in Iraq would not obey Abadi's order.
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