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  • China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
     

    China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]

     
  • Aramco Quickly Met Global Demand After Attacks, Saudi Arabia’s King Salman Says in Annual Address
     

    Saudi Arabia’s King Salman said in his annual address to the Shoura Council on Wednesday that the ability of Saudi Aramco to quickly restore oil production capacity after attacks on its facilities in September “had proven the kingdom’s ability to meet global demand during any shortage,” Reuters reports. The King pointed a finger at Iran […]

     
  • Saudi Arabia’s PIF Reportedly Invests $400m in Disruptive Food Startup Founded by Travis Kalanick
     

    Saudi Arabia’s Public Investment Fund has invested $400 million into Uber founder Travis Kalanick’s new company CloudKitchens, according to the Wall Street Journal. CloudKitchens is a food and real estate startup that buys cheap properties across the U.S. and in India, China, the U.K. and elsewhere. “The hope is that their proximity to densely populated areas will make them […]

     
  • Defense Secretary Esper in Riyadh for Surprise Visit; Kushner, Mnuchin to attend Future Investment Initiative
     

    Secretary of Defense Mark Esper arrived Monday in Saudi Arabia for an unannounced visit as the U.S. and Saudi Arabia seek to bolster their joint defense in the face of rising regional tensions. Secretary Esper met with Saudi Arabia’s King Salman in Riyadh, photos show, and Esper said he discussed the deployment of U.S. forces and […]

     
  • Law Firm Pillsbury Analyzes First Cases in Saudi Arabia’s New Bankruptcy Law
     

    Law firm Pillsbury published a research note highlighting the recently passed bankruptcy law in Saudi Arabia that incorporated modern alternatives to liquidating businesses in the Kingdom, using the first cases decided by the Saudi judiciary as case studies. “For several years now, judges in [bankruptcy] courts have been involved in seminars and training work­shops to help prepare them to rule […]

     
  • Saudi Arabia, France Announce ‘Major Partnership’ for Al-Ula Development
     

    France and Saudi Arabia have announced a “major partnership” to develop the area of Al-Ula, a historic site in the Kingdom that is part of its push to bring in tourists and open the Kingdom up to investment. According to The National, the new partnership will take place in three phases, with the first being completed in […]

     
  • Travelers Arrive in Saudi Arabia on Newly-Issued Tourist Visas
     

    First visitors have arrived in Saudi Arabia on new tourist visas as Saudi Arabia looks to attract visitors and investment into the Kingdom. Saudi Arabia announced a new tourist visa scheme on Friday that will see the Kingdom open up to international leisure travelers for the first time, a historic milestone in a broader push to diversify and modernize its economy and society. […]

     
  • King Salman Opens Jeddah Airport’s New Terminal
     

    Saudi Arabia’s King Salman opened and toured a new terminal at King Abdulaziz International Airport in Jeddah on Tuesday as the Kingdom continues to invest in ambitious plans to transform its tourism sector. The new King Abdul Aziz International Airport Terminal 1 (KAIA Terminal 1) in Jeddah is one of the biggest infrastructure projects undertaken […]

     
  • Trump says he does not want war with Iran, but says Tehran ‘likely’ behind attacks
     

    President Donald Trump said on Monday it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, according to reports, as the world watches how the Kingdom and its allies may respond to Saturday’s strikes. “It’s certainly looking that way at this moment,” Trump […]

     
  • World’s Largest Fund Manager BlackRock Opens Office in Saudi Arabia
     

    BlackRock, the world’s largest fund manager, has opened an office in Saudi Arabia, according to reports, as the company continues forward with plans to capitalize on the government’s economic reforms. A company spokeswoman told Reuters the BlackRock Riyadh office had “opened recently and is headed by Yazeed Almubarak,” the news service reports. Almubarak previously worked at Morgan Stanley […]

     

MUST-READS

  • A Middle East Quad? Scope for synergies, but divergences over Iran

    The four countries can cooperate in areas like maritime security, infrastructure and, given the Abraham Accords, there is space for trilateral economic cooperation between India, the UAE and Israel.

  • What does climate change tell us about ancient Saudi Arabia?

    Climate change and the threat it poses to all life on Earth is a problem most people would associate with the modern world. But to a team of international archaeologists working in Saudi Arabia alongside the Saudi Heritage Commission, climate is central to understanding the mysteries of half a million years' of human evolution, including mankind's early migration from Africa to the wider world.

  • Is India Abandoning Iran for a Middle Eastern Quad, or Merely Signaling China?

    The talks initially began as a trilateral U.S.-Israel-UAE meeting on October 13 in Washington that focused on the Abraham Accords and Iran’s nuclear program. Another meeting was held virtually five days later, this time with India participating as a fourth member. Although India’s relations with Tehran have been bogged down by the impact of U.S. sanctions and commercial disputes, involving key projects such as the Chabahar Port railway and Farzad-B gas field, India nevertheless views Iran as an important partner.

  • “Jeddah not ready in time?”: Concerns arise over the Saudi Arabian Grand Prix as officials are in a race against time to get the circuit ready for Formula 1

    Formula 1 journalist Rosanna Tennant paid a visit to the under-construction circuit recently. Pictures posted on her Instagram story show us that there are still tons of work to do before FP1  on 3rd December.

  • Where are the biggest investments in climate tech?

    Between 2016 and September 2021, venture capital investment into climate tech companies in the US surpassed $48 billion, according to a new report released today (Oct. 26) by not-for-profit London & Partners and Dealroom.co, a data provider on startups. China was a distant second, with VCs spending $18.6 billion.

  • Analysis: A net-zero Saudi Arabia? Not so fast

    Saudi Arabia will become a test case of how to ramp up electrification, with massive solar projects and targets for renewable power production. If the kingdom can also become a site for solar panel production, it might be a market leader in both the construction and operation of solar power across a wide swath of the Middle East and Africa, the most important growing market for energy demand.

  • Opinion: Where to now for Saudi-Iranian dialogue?

    However, Saudi Arabia cautioned their Iraqi guest during his visit as previous talks with consecutive Iranian governments all failed because the acts of the regime and its security apparatus, including the Islamic Revolutionary Guard Corps (IRGC), violated their spirit.

  • Is Saudi Oil Still Important? Interview with David Rundell.

    New industries won’t turn Saudi Arabia into South Korea, but they don’t have to. They need only make the Saudi welfare state more sustainable and, in that regard, they have a reasonable chance of success.

  • Aside from Saudi, UAE, how is the GCC faring with oil production?

    Population growth in developing countries will ensure oil is the world’s number-one source of energy until at least 2045, when coal will still comprise almost 1/5th of energy demand, and only 1 in five cars on the roads will be electric. Fossil fuels’ combined share of the energy mix is forecast to fall to 70% in 2045 from 80% last year, but that will still mean an overall increase in oil and gas production.

  • What does Saudi Arabia’s autonomous vehicle agenda mean to the rest of the world?

    Saudi Arabia has set aside $500bn to invest in the economic zone of Neom, a smart city that will be built from scratch and where inhabitants will get around by using fully autonomous vehicles (AVs). While it is certainly a significant project, the systems being developed for the Neom megacity are still in the design phase, with many details either not yet decided or not communicated to the public. Leading the effort to develop the AVs in Neom is Syrian-born Nahid Sidki, who spent more than 30 years honing his skills in artificial intelligence (AI) and robotics in the US. Sidki recently left his position as executive director for the robotics centre at Stanford Research Institute to apply his knowledge to projects in the Middle East.