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Recent stories from sustg
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Saudi Aramco Joins ACWA Power, Others in $1 billion Sudair Solar Power Plant Development
- August 16,2021
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- SUSTG Team
A consortium that is developing Saudi Arabia’s largest solar project has reached financial close for the nearly $1 billion plant, and has secured the backing of state oil producer Saudi Aramco, according to Bloomberg. According to the report, Aramco, through a unit called The Saudi Aramco Power Company (SAPCO, will hold a 30% stake in the […]
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Saudi Arabia Sending Largest-Yet Delegation of Athletes to the Olympics in Tokyo
- July 14,2021
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- SUSTG Team
Saudi Arabia’s delegation of athletes to the Olympic Games in Tokyo this month is its largest ever, as the Kingdom continues to build its homegrown sports talent and develop young athletes. The Kingdom has participated in 11 Olympics, with its first athlete competing in 1976 in Montreal.
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Crown Prince Mohammed bin Salman Launches New Transportation and Logistics Strategy
- June 30,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday launched a new strategy that aims to make the kingdom a global logistics hub and boost the sector’s contribution to non-oil revenues, according to reports. The plans include an “ambitious package of mega-projects” and focuses on aviation, rail, and maritime shipping and logistics, according to the SPA.
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U.S. Envoy for Yemen Tim Lenderking Again Visits Riyadh in Push to Bring Yemen War to Close
- June 17,2021
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- SUSTG Team
Veteran diplomat and U.S. Special Envoy for Yemen Tim Lenderking traveled to Saudi Arabia this week to continue efforts at bringing to a close the ongoing war in Yemen, the State Department and reports confirm. Lenderking held meetings with senior officials from both the official Yemeni government and the Kingdom and UN Special Envoy Martin Griffiths, according to […]
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Goldman Sachs Raises Expectations for Saudi Arabia’s Oil Production and Economic Growth – Report
- June 15,2021
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- SUSTG Team
According to a report in Bloomberg, Goldman Sachs Group Inc. raised its expectations for Saudi Arabia’s oil production and economic growth in 2021 as crude prices soared over $70 a barrel this week and pandemic-related lockdowns continued to ease.
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Saudi Arabia’s Massive Public Investment Fund Appoints Two Deputy Governors to Fuel Expansion
- June 8,2021
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) said on Tuesday it has established two deputy governor roles to support the $430 billion fund’s continued growth and expansion, several outlets report. Turki Bin Abdulrahman Alnowaiser, who heads PIF’s International Investments Division, and Yazeed Bin Abdulrahman Alhumied, who leads PIF’s MENA Investments Division, will take […]
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Kingdom Registers Surge in SME Contribution to GDP, a Top Goal of Vision 2030
- May 31,2021
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- SUSTG Team
The contribution of Small to Medium Enterprise businesses (SMEs) in Saudi Arabia to the Kingdom’s overall GDP has surged 45% since the launch of Vision 2030, according to a report in Zawya, citing official government data.
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With Pandemic Waning, Saudi Arabia Set to Resume Tourism Ambitions
- May 27,2021
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- SUSTG Team
Saudi Arabia plans to resume tourist visas “very soon” after suspending them months ago because of the coronavirus, a Saudi official told Bloomberg, as the Kingdom looks to resume its drive to attract tourists to visit historical sites and new attractions.
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U.S. Blasts Houthi Leadership, Sanctions Two Top Commanders as Peace Talks Stall – Report
- May 21,2021
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- SUSTG Team
The Biden Administration announced new sanctions on two Houthi military officials, the U.S. Treasury Department said, taking action over the Iran-aligned movement’s offensive to seize Yemen’s gas-rich Marib region and lack of real commitment to finding a peaceful solution to the end of the war there.
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As Construction Activity Picks Up, Prices of Building Materials in Saudi Arabia Soars
- May 14,2021
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- SUSTG Team
Prices of key construction materials in Q1 in Saudi Arabia soared to the highest prices in 12 years, with steel leading the increase as construction activity began to recover from the slowdown caused by the coronavirus disease pandemic last year.
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Ministry of Petroleum and MineralsSaudi King Names Al-Falih Aramco Chairman, Replacing Al-Naimi
Saudi Arabia’s King Salman named Khalid A. Al-Falih as chairman of Saudi Arabian Oil Co., the world’s biggest crude exporter, replacing Oil Minister Ali Al-Naimi, according to state television.
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Ministry of HealthAramco CEO Khalid al-Falih appointed Saudi health minister
Saudi King Salman on Wednesday appointed Saudi Aramco Chief Executive and President Khalid al-Falih as the country's health minister and chairman of the state oil company in the world's top crude exporter, state television said.
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AramcoSaudi Aramco board visits S.Korean shipbuilder
Board members of Saudi Aramco visited the headquarters of South Korea's Hyundai Heavy Industries Co Ltd on Tuesday, as the shipping arm of Saudi Arabia's state oil firm looks to buy up to 10 tankers, four industry sources said
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AramcoSaudi Aramco signs $10 billion loan as oil companies raise funds
Saudi Arabian Oil Co. has signed an agreement with a group of regional and international lenders for $10 billion of standby revolving credit facilities, one of the biggest loan deals in the Gulf region since 2011.
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Saudi Aramco: ChinaSaudi Aramco wants to boost supply to China
“We see our energy supply potentially doubling at one point of time as China’s energy demand grows,” he said. The firm supplied about 13% of China’s crude-oil demand last year, according to government data.
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Saudi AramcoSaudi Aramco Said Close to Signing $10 Billion Debt Deal
Saudi Aramco, the world’s biggest oil exporter, is the latest oil company in the Middle East to capitalize on low borrowing costs to raise funds for possible acquisitions amid a downturn in the industry.
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Saudi AramcoDubai builder Arabtec wins $283 mln contract from Saudi Aramco
Arabtec, which this week put four of its five Saudi subsidiaries up for sale, said it would complete the project in Al Dhahran within 28 months.
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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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