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  • 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. […]

     
  • New Life-Sized Camel Sculptures Discovered in Saudi Arabia May Date Back 2,000 Years
     

    Archaeologists from France’s National Center for Scientific Research (CRNS) and their colleagues from the Saudi Commission for Tourism and National Heritage (SCTH) have discovered camelid sculptures “unlike any others in the region” dating back to the first centuries BC or AD, according to a press release from the CRNS. The find sheds new light on the evolution […]

     
  • 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 Aramco CEO Says Company Eying U.S. Expansion
     

    Saudi Aramco’s CEO Amin Nasser said the company was eying expansion in the United States “where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive,” Reuters reports. Nasser also lauded the Trump administration as being friendly toward the oil industry. “The Trump administration has been positive towards the energy […]

     
  • House Speaker Ryan meets Saudi King Salman in Riyadh
     

    U.S. House Speaker Paul Ryan is leading a Congressional delegation to the Middle East, meeting with Saudi King Salman Wednesday in the first regional stop for talks centered on security, the Associated Press reports. The week-long Congressional Delegation (CODEL) trip to the Middle East “will focus on regional stability, the campaign against ISIS and terrorism, […]

     
  • 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 […]

     
  • Will Saudi Arabia Purchase a Stake in Hollywood’s Largest Agency?
     

    Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a 5-10% stake in Endeavor, the holding company for Hollywood talent agency William Morris Endeavor (WME), for $500 million, according to reports. The Beverly-Hills, California based agency formed in 2009 as a merger between William Morris Agency and Endeavor Agency and represents artists across […]

     
  • First Utility-Scale Solar Plant Planned for Northern Saudi Arabia Receives Bids
     

    Saudi Arabia has announced a shortlist of bidders for the first utility-scale solar plant planned for northern Saudi Arabia, according to reports. The planned 300-megawatt solar photovoltaic (PV) project is in Sakaka, Al-Jouf province. “All of the bids opened today (Tuesday) will now undergo stringent technical, financial and legal evaluation,” Turki al-Shehri, the head of the […]

     
  • Bloomberg Report: Meeting Held Today at White House to Discuss Potential for U.S.-Saudi 123 Agreement
     

    Trump Administration officials are reportedly meeting at the White House today to discuss details of a potential nuclear cooperation agreement with Saudi Arabia, known as a 123 Agreement, according to two administration officials quoted in Bloomberg. Section 123 of the U.S. Atomic Energy Act requires the conclusion of a peaceful nuclear cooperation agreement for significant transfers of nuclear material, equipment, […]

     
  • Former President of Yemen Ali Abdullah Saleh Killed by Houthi Allies in Major Turning Point
     

    In a major turn in the ongoing civil war in Yemen, former President Ali Abdullah Saleh has reportedly been killed in fighting against his former allies in the three-year old war, the Iran-aligned Houthi militia. Clashes broke out between fighters allied with the armed Houthi militia and those in Saleh’s General Peoples Congress over the […]

     

MUST-READS

  • Solar
    Solar power key for Saudi future, says energy chief

    A leading figurehead in Saudi Arabia’s energy sector has called solar energy "a must" for the kingdom, stating that Saudi Arabia has little choice but to pursue the potential of solar power if it hopes to maintain the country’s standard of living.

  • Egypt
    Sisi gives Egypt military new powers after Sinai attack

    A spokesman said the new law gives the army the right to secure sites like power plants, main roads and bridges. But critics say it allows the army to return to the streets and bring back military trials for civilians. President Sisi declared a three-month state of emergency after the bomb attack in Sinai on Friday. The new decree allows state infrastructure to be defined as "military facilities" for two years, permitting the army to work with police to secure such sites.

  • Conflict in Yemen
    Iran, Saudi Arabia jockey for power in Yemen

    The most important platform for Iran and Saudi Arabia is not on the religious or economic level, but rather the military level on the ground. Tehran has a quasi-absolute influence on the political regimes in Iraq and Syria, as well as a strong ally in Lebanon, represented by Hezbollah. The Iranian president’s adviser, Ali Akbar Velayati, publicly announced his country’s support for the Houthis, as well as the fact that Ansar Allah’s role in Yemen resembles that of Hezbollah’s role in Lebanon. These challenges to the local Yemeni scene, in addition to the regional Saudi-Iran conflict, will limit Saudi Arabia’s options in Yemen in the near future. Saudi Arabia is still relying on its traditional tribal allies in Yemen, as well as weakening Iran regionally and defeating it in Syria, rather than trying to intervene directly in Yemen. This is happening in light of Saudi Arabia’s fight against IS, which represents a bigger threat to Saudi security than the challenges that Yemen is facing.

  • Global Oil Markets
    A power shift in global oil dynamics

    Ruchir Sharma, the head of Morgan Stanley's emerging markets investments, points out that over the last decade, Chinese oil demand had been increasing on average 7 percent every year. Until now. The Chinese juggernaut's seemingly insatiable appetite for commodities like oil has screeched to a halt. Growth in Chinese demand for oil is currently running at about zero. This comes as a huge surprise. China accounted for about 50 percent of the increase in oil demand over the past 10 years, Sharma points out.

  • Renewable Energy Investment
    At Reuters Summit, Saudi Arabia’s ACWA Power shifts toward renewable energy

    Saudi Arabia-based power and water project developer ACWA Power IPO-ACWA.SE is seeking to secure or arranging finance for $15 billion worth of projects, nearly half of which are in renewable energy, its chief executive said.

  • INTERVIEW
    Saudi’s ACWA Power Eyes Expansion After IFC Investment

    The Wall Street Journal sits down with ACWA’s Chief Executive Paddy Padmanathan to discuss the investment and the company’s future projects.

  • Iran Negotiations
    Iran acts to comply with interim nuclear deal with powers: IAEA

    Iran is taking further action to comply with an interim nuclear agreement with six world powers, a monthly U.N. atomic agency report showed, a finding the West may see as positive ahead of a November deadline for clinching a long-term deal. The report by the International Atomic Energy Agency (IAEA), seen by Reuters, made clear that Iran is meeting its commitments under the temporary deal, as it and major powers seek to negotiate a final settlement of a decade-old nuclear dispute.

  • Yemen
    Yemen: Power Vacuum In Sana’a Hampers Aid Response

    Following their victory, the Houthis quickly took control of other government facilities. At the same time, political parties endorsed a UN brokered deal that officially brought an end to the fighting. The agreement, signed by the Houthis and major political parties with President Abdu Rabu Mansour Hadi’s endorsement, called for the creation of a new government, a reduction in fuel prices and granted the Houthis a larger say in governmental decisions.

  • Domestic Oil Consumption
    Saudi Arabia uses largest amount of crude oil for power generation since 2010

    Saudi Arabia used an average of 0.7 million bbl/d of crude oil for power generation during the summers from 2009 to 2013. During that same period, Iraq and Kuwait, the next two largest users of crude oil for power generation in the Middle East, each averaged roughly 0.08 million bbl/d of crude burn.

  • Nuclear and Solar Energy
    Saudi Arabia Aims For Nuclear Power Within 20 Years

    With more than a dozen reactors in the plan, global competition for the Saudi contracts is fierce. In September 2013, both GE Hitachi Nuclear Energy and Toshiba/Westinghouse signed contracts with Exelon Nuclear Partners to pursue reactor construction deals with the Saudis. France’s Areva and EdF have signed a number of agreements with Saudi companies and universities. The Saudis have agreements with Argentina and South Korea, and other deals are in the works with Russia, the Czech Republic, and the United Kingdom. There is even a deal emerging with the China National Nuclear Corporation.