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  • Oil Revenues Above Saudi Budget Breakeven Price Will Go to PIF Coffers, Al Tuwaijri Says
     

    Steadily climbing oil prices over the past year may help increase cash in Saudi Arabia’s massive Public Investment Fund (PIF), according to comments by Mohammed Al Tuwaijri, the kingdom’s minister of economy and planning. “Whenever oil is above our break-even point, this will all go to the PIF,” he said, as reported in the Financial Times, without […]

     
  • Saudi Crown Prince Mohammed bin Salman Adds Egypt Leg to International Trip
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman will begin a weeks long international tour with a three day visit to Egypt, according to a Reuters report citing confirmation from the office of Egypt’s president Abdel Fattah Al-Sisi. Egypt and Saudi Arabia have enjoyed strong ties since Al-Sisi took power and ousted the Muslim Brotherhood in 2013. […]

     
  • VAT, Fuel Price Reforms Cause Bump in Saudi Inflation
     

    Inflation rose in Saudi Arabia in January 2018 by 3 percent year-on-year, and 3.9 percent month-on-month “largely as a result of the implementation of VAT and utility and fuel price reform during the month,” Riyadh-based Jadwa Investment confirmed in a research note. The data is based on official Saudi figures released by the government. The figures suggested […]

     
  • King Salman Replaces Top Military Commanders in Cabinet Shuffle
     

    Saudi Arabia has replaced some of its top military officers by royal decree, elevating a younger generation as the war in Yemen approaches its fourth year without a victory. No reason was given for the changes, according to Bloomberg and the Financial Times. King Salman appointed First Lieutenant General Fayyad bin Hamed al-Ruwayli as chief […]

     
  • Development on Jeddah Tower and Surrounding Economic City Moves Forward After Alwaleed’s Release
     

    Construction of what is planned to be the world’s tallest skyscraper in Jeddah is going ahead following the release of Saudi Arabia’s Prince Alwaleed bin Talal, the head of the consortium behind the $1.5 billion project said. Mounib Hammoud,  chief executive of Jeddah Economic Co (JEC), said in an interview that the project will ideally be completed […]

     
  • ACWA Power Wins First Utility-Scale Solar Energy Project in Saudi Arabia
     

    Saudi Arabia has announced that ACWA Power, the Saudi power generation and desalination company, has won the contract for the first utility scale solar power project in Saudi Arabia with a record-breaking tariff of 2.34 US-cents per kilowatt-hour, according to reports. ACWA Power announced the win on its website on Tuesday. “This plant is the first of what […]

     
  • Saudi Crown Prince Mohammed bin Salman will Visit Washington, Other U.S. Cities in Early March
     

    The Royal Embassy of Saudi Arabia in Washington is working to organize a visit by crown prince Mohammed bin Salman to the United States in early March, the first trip to the U.S. since he became crown prince last year, according to reports. Rumors of a forthcoming visit by the powerful crown prince have surfaced in […]

     
  • New Turmoil in Yemen as Separatists Surround Presidential Palace in Aden
     

    Infighting between forces supported by the Saudi and UAE-led coalition in Yemen to restore power to the legitimate government in Yemen is threatening to derail the larger campaign against the Iran-aligned Houthi rebels, according to reports. Clashes broke out between the two once-friendly sides in Aden, Yemen this week, where the pro-Saudi elected government of […]

     
  • Report: Locations Scouted for Potential Nuclear Power Plant Sites in Saudi Arabia
     

    Saudi Arabia is eying initial work on two sites for its first nuclear power plants, a report in MEED said, as the Kingdom looks to bolster alternative sources of energy to free up oil for export and power the growth needed for its Vision 2030 program. The kingdom has shortlisted two sites “and has invited […]

     
  • Saudi Alternative Energy Sector Set for Big Year with Localization in Focus
     

    With U.S. shale now forecasted by analysts and the U.S. EIA to out-produce Saudi Arabia and Russia in 2018, and Saudi Arabia needing to burn less of its own oil for domestic use and continue toward a more sustainable economy, alternative energy in the Kingdom has never been hotter. Saudi leaders have long talked about the benefit of a […]

     

MUST-READS

  • Saudi Arabia doubles Q2 Russian fuel oil imports for power generation

    Saudi Arabia, the world's largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power stations to meet summer cooling demand and free up the kingdom’s own crude for export, data showed and traders said. Russia has been selling fuel at discounted prices after international sanctions over its invasion of Ukraine left it with fewer buyers. Moscow calls the war in Ukraine a "special military operation".

  • Opinion: The Changes to Hajj Could be a Saudi Soft Power Game

    In Muslim-majority countries these lotteries are run by governments. However, in the West, several Hajj tour operators called munazzams (“organisers”) in each country are allocated a small number of Hajj visas by the Saudi government. Since 2006, pilgrims living outside of Muslim-majority countries had been required to purchase a Hajj package – including a visa, flight, accommodation, and other services – from one of hundreds of these munazzams. The cost of these packages usually range US $10-20,000 per person.

  • Saudi Arabia’s powerful prince unbowed by Western uproar

    Saudi Arabia's powerful crown prince Mohammed bin Salman has emerged unbowed from the international outrage over the killing of journalist Jamal Khashoggi four years ago, as Western leaders who once tried to isolate him now seek his support. U.S. President Joe Biden, who has accused the prince of ordering Khashoggi's murder and said Saudi Arabia should be made a pariah, will visit the oil-producing kingdom on Friday hoping for a respite from soaring global petroleum prices.

  • Saudi’s SADAFCO plans solar power project for its Jeddah warehouse

    Saudia Dairy and Foodstuff Co. (SADAFCO) plans to implement a solar photovoltaic (PV) power system at its Jeddah Central Warehouse (JCW) to lower its carbon impact, the company said in its 2021 sustainability report. The Saudi stock exchange-listed firm has initiated steps to identify and use renewable power sources at its factories and warehouses since it is well placed to utilize solar power in its operations.

  • Perspective: Saudi Religious Soft Power Diplomacy Eyes Washington And Jerusalem First And Foremost

    Ms. Lipstadt said that Saudi religious soft power diplomacy had created an atmosphere in which she could discuss with government officials and civil society leaders, who in the kingdom inevitably are likely to be linked to the government, “normalising the vision of the Jews and understanding of Jewish history for their population, particularly their younger population.”

  • Iran replaces powerful chief of Guards’ intelligence unit – state TV

    Iran has dismissed the powerful chief of the Revolutionary Guards' intelligence unit, Hossein Taeb, Iranian state TV said on Thursday, after a series of high-profile incidents Tehran has blamed on its arch-foe Israel. Iranian state media did not give a reason but state TV said Taeb would become an adviser to the Guards' Commander-in-Chief Hossein Salami. Taeb will be replaced by Mohammad Kazemi, previously head of the Guards' Intelligence Protection unit.

  • Saudi Arabia’s NEOM to build renewable-powered desalination plant

    Saudi Arabia’s futuristic planned city NEOM plans to build a water desalination plant powered by renewable energy. NEOM signed a memorandum of understanding yesterday with the Japanese trading company Itochu and the French energy company Veolia to build a desalination facility powered completely from renewable energy. NEOM plans for the facility to produce 500,000 cubic meters a day of water by early 2024, according to a press release.

  • Saudi Arabia’s ACWA Power to develop 1.1 GW wind project in Egypt

    The consortium led by ACWA Power will work with local company Hassan Allam Holding to complete site studies and secure the financing for the project, which is located in the Gulf of Suez and Gabal el-Zeit area in Egypt. The project is set to be one of the largest wind power schemes in the Middle East and will comprise wind turbines with blade heights of up to 220 meters.

  • Saudi ACWA Power signs $800mln water purchase contract

    The SPV - Shuaibah Three Water Desalination Co. - was formed by ACWA Power and Badeel Co. for the Shuaibah 3 IWP Project plant located in in Mekkah province in the kingdom. The contract is for a period of 25 years and covers the development, construction, and operation of 600,000 m3/day SWRO.

  • Visualizing the Coming Shift in Global Economic Power (2006-2036p)

    China is expected to surpass the U.S. by the year 2030. A faster than expected recovery in the U.S. in 2021, and China’s struggles under the “Zero-COVID” policies have delayed the country taking the top spot by about two years.