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Recent stories from sustg
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Engineers and Two Government Employees to Face Charges in Mecca Crane Disaster – Report
- July 12,2016
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- SUSTG Team
Saudi prosecutors will bring charges against engineers and two government employees as a result of the 2015 crane collapse in Mecca, Saudi Arabia, which killed 107 people and infuriated top government leaders. Reuters reports that Al-Riyadh, a local newspaper that “reflects government thinking,” quoted a source as saying that investigators and the prosecution “had completed an […]
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G.E., Aramco Ventures Pump $52m into Boston-Area 3D Printing Startup
- July 6,2016
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- SUSTG Team
General Electric Ventures and Saudi Aramco Ventures have led an investment of $52m in total funding into a Boston-based 3D printing device company, Desktop Metal. Desktop Metal aims to bring “an everyday-use metal 3D printing solution to the workspace of every engineering team,” according to CEO Ric Fulop. Boston Business Journal reports that the investment from […]
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Jadwa Investment: A Turn to Positive for Saudi Economic Data in July 2016 Economic Chartbook
- July 1,2016
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- SUSTG Team
Jadwa Investment’s recently released July 2016 Chartbook reveals economic data for Saudi Arabia trending toward the positive for the month of May, citing data on ATM withdrawals and point-of-sales transactions showing seasonal increases. Cement sales and PMI data also showed a slight acceleration in activity. The government also has reversed the months-long decline in assets at […]
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Deputy Crown Prince Mohammed bin Salman, Minister of Commerce Majed Al-Qasabi Tour Facebook, Meet with Mark Zuckerberg
- June 23,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince, Mohammed Bin Salman, met Facebook Inc. Chief Executive Officer Mark Zuckerberg during a tour of Silicon Valley before departing for New York. The Deputy Crown Prince was given a tour of Facebook’s headquarters in Silicon Valley and was accompanied by the Saudi Minister of Commerce, Dr. Majed al-Qasabi. Prince Mohammed […]
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Back in a Business Suit, Deputy Crown Prince Mohammed bin Salman and Delegation Sign Agreements with Six Flags, Cisco Systems
- June 21,2016
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- Lucien Zeigler
Saudi Arabia has signed partnership agreements with theme park company Six Flags Entertainment and Cisco Systems during a visit by Deputy Crown Prince Mohammed bin Salman and his accompanying delegation to Silicon Valley this week as Saudi Arabia looks to boost its business and commercial ties with the United States. The prince was shown wearing a gray […]
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Deputy Crown Prince Mohammed bin Salman Meets with Defense, U.S. Chamber of Commerce Officials
- June 17,2016
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- SUSTG Team
U.S. Defense Secretary Ash Carter hosted an enhanced honor cordon yesterday to welcome Deputy Crown Prince Mohammed bin Salman, Saudi Arabia’s defense minister, at the Pentagon in Washington, D.C. The two leaders and other defense officials from both the U.S. and Saudi Arabia met “for a series of constructive meetings and briefings,” the Pentagon said in […]
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Saudi’s New Minister of Commerce and Investment Dr. Majed Al-Qasabi to Meet with Business Leaders at U.S. Chamber of Commerce Today
- June 14,2016
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- Lucien Zeigler
Saudi Arabia’s New Minister of Commerce and Investment, Dr. Majed bin Abdullah Al-Qasabi, will meet with business and private sector leaders today at the U.S. Chamber of Commerce in Washington, D.C. The private roundtable discussion is part of the U.S.-Saudi CEO Summit initiative which is a partnership between the U.S. Chamber of Commerce and the […]
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Dispute Between U.N.’s Ban Ki Moon, Saudi Arabia Spills into the Public
- June 10,2016
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- SUSTG Team
UN chief Ban Ki-moon said in public comments on Thursday that Saudi Arabia had exerted “unacceptable” pressure on the world body after a U.N. report blacklisted a Saudi-led military coalition for killing children in Yemen, according to reports. Moon said financing for humanitarian operations in the Palestinian territories, South Sudan and Syria would be compromised if […]
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Saudi Arabia’s National Transformation Program Released
- June 7,2016
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- Lucien Zeigler and Richard Wilson
Saudi Arabia has unveiled its long-awaited National Transformation Program (NTP), a 112-page document outlining Saudi Arabia’s strategic objectives in achieving its previously-announced “Vision 2030” initiative as well as identifying the challenges faced by government bodies in the economic and development sectors. “The National Transformation Program is one of the executive programs supporting Vision 2030. The program […]
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Uber Scores the Largest Single Investment Ever Made in a Private Company from Saudi Arabia’s Public Investment Fund; Snags $3.5b
- June 2,2016
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- SUSTG Team
In what is being called the largest single cash investment ever made into a private company, Saudi Arabia’s Public Investment Fund (PIF) has invested $3.5 billion for 5% of the on-demand car service Uber. The investment is the first of likely many more investments into technology as Saudi Arabia looks to act on its ‘Vision 2030’ […]
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MUST-READS
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Solar EnergySaudi Aramco turns to PV to ‘displace hydrocarbons’ from electricity generation
The project is a part of a bigger program to see Saudi Aramco reduce its energy consumption at its “nonindustrial buildings” by 35% by 2020. LED lighting and new standards for thermal insulation are also a part of the scheme.
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Saudi AramcoSaudi Aramco Shares Strategies for Navigating Economic Downturn at MEOS 2015
“The challenge of keeping up during a downturn is more complicated today than ever before,” he said. “But we have seen how that approach to a spending crunch plays out. Indeed, we are still living with the consequences. The reduced investment in technology and talent that characterized the 1980s and early ‘90s should remind us that repercussions can be lasting.”
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Saudi AramcoKBR Bags Saudi Aramco’s Project Management Services Contract
Under the terms of this six-year contract, KBR will provide project management and engineering services for existing and new offshore facilities to maintain and increase crude production levels to meet Saudi Aramco’s maximum sustained capability for production under the company’s capital program.
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Saudi AramcoSaudi Aramco nears $10 bln loan deal at tight pricing
Saudi Aramco, the kingdom's state oil giant, is close to completing a $10 billion tightly-priced loan, banking sources said on Thursday, part of which could be used to back the purchase of a stake in German synthetic rubber firm Lanxess.
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AramcoSaudi Aramco Says Operating 212 Drilling Rigs, No Decision On Increase
Aramco deployed 210 oil and gas rigs in 2014, an exceptionally busy year, company sources had said.
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Saudi AramcoVideo: Aramco pushing ahead with Jizan refinery
Saudi Aramco will start the construction phase of its planned world-scale refinery and integrated gasification combined cycle power plant in 2015 and 70,000 workers will be on-site within 18 months.
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Saudi AramcoSaudi Aramco Said to Seek Loan Cost Lower Than Exxon Mobil Debt
Saudi Arabian Oil Co., the world’s largest oil exporter, is in talks with banks to raise a $10 billion revolving credit facility at cheaper pricing than Exxon Mobil Corp., according to three people familiar with the matter.
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Saudi AramcoSaudi Aramco Senior VP Buainain Steps Down-Sources
Saudi Aramco’s senior vice president for technical services Khalid al-Buainain has left the company, industry sources said. Ahmad al-Sa’adi will take over Buainain’s role in the company as acting head for technical services until the end of August this year.
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Unconventional GasSaudi Aramco extends bidding for unconventional gas work -sources
State energy firm Saudi Aramco has extended the deadline for companies to bid for work on its unconventional gas facilities in the north of the country, signalling it remains committed to developing shale gas deposits, industry sources said.
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Saudi AramcoOpinion: Saudi Aramco: An overburdened champion
With official blessing, the company has been spending heavily on getting into all sorts of businesses far removed from drilling for crude. Besides huge investments in petrochemicals—an obvious diversification for an oil producer—it has gone big on solar energy; and it is planning to build a shipyard, with a South Korean company.
- WSJ (paywall) - Oil-Drop Pain Spreads to Saudi Arabia’s Energy Behemoth
- Onsite Exclusives - Saudi Aramco seeking international partners for mall and hotel construction for its 10,000 homes in Dahran project
- Al-Bawaba - Aramco seeking $10 billion loan
- Seeking Alpha: Saudi Aramco seeks to cut costs, asks oil services providers for deals
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