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  • Crucial Test for Saudi Arabia, Russia on Oil Output at OPEC Meeting in Vienna
     

    OPEC and Russia are facing a “crucial test” on Thursday at a meeting in Vienna as Saudi Arabia and Russia seek to come to an agreement on oil output. Oil traders are expecting OPEC to announce a nine-month extension to supply caps that are currently due to finish at the end of March 2018, but such […]

     
  • Saudi-Led Coalition Faces Mounting International Criticism of Yemen Blockade
     

    Saudi Arabia is under growing international pressure from the U.N., U.S. Congress and global media outlets to unconditionally lift its blockade of Yemen, amid warnings of a serious deterioration to the already dire humanitarian situation in the war-torn country. In an unusual joint statement from the United Nations, the heads of the World Food Program, Unicef, and […]

     
  • Aramco Set to Invest $300 billion over 10 years in Oil and Gas Projects
     

    While speaking at the ADIPEC Energy Conference in Abu Dhabi, Aramco CEO, Amin Nasser, declared Saudi Aramco’s plans to invest $300 billion over 10 years in upstream oil and gas projects, Reuters reports. Preceding Nasser’s comments, Saudi Aramco announced on November 9 that it had signed eight agreements worth $4.5 billion with a number of […]

     
  • Fitch Ratings Affirms ‘A+’ Outlook for Saudi Arabia as Finance Ministry Pushes Back Date of Deficit Elimination
     

    Fitch Ratings on Thursday affirmed Saudi Arabia’s long-term foreign-currency Issuer Default Rating (IDR) at ‘A+’ with a stable outlook, saying the ratings are “supported by strong fiscal and external balance sheets, including exceptionally high international reserves, low government debt, significant government assets and strong commitment to an ambitious reform agenda.” The Fitch report said central […]

     
  • Despite Progress, WEF Ranks Saudi Poorly on Gender Gap Index
     

    Saudi Arabia was among the lowest-ranked countries on in the World Economic Forum’s Global Gender Gap index, despite recently issuing new rules on women driving and other progress in the Kingdom. Saudi Arabia placed 138th out of 144 countries. The Kingdom’s Vision 2030 economic and social reform plans call for greater participation and empowerment of women in Saudi […]

     
  • What We Know About Neom, Saudi Arabia’s New Planned Mega-City
     

    Saudi Arabia’s new massive planned city, Neom, is set to be the most ambitious undertaking of Saudi Arabia’s ambitious reform plans to-date. Here’s what we know about Neom so far. The new planned city is massive. At 10,000 square miles (26,500 square kilometers), the city extends across the borders of three countries, the first special […]

     
  • Reports: China Offers to Buy 5% of Aramco IPO
     

    Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal to purchase up to 5% of Saudi Aramco, according to an exclusive report in Reuters, in a move that would shelve the Company’s plans to list on international markets in favor of a direct […]

     
  • Saudi Arabia and Russia sign S-400 MOU, with Some Manufacturing in the Kingdom
     

    Saudi Arabia wants to produce a range of Russian military products, including parts for the S-400 air defense system, as part of agreements signed during King Salman’s visit to Russia this week. The agreement to produce military equipment covering the procurement of S-400 long-range air defense systems includes manufacturing part of the system in the Kingdom, […]

     
  • Saudi’s PIF Continues Investment Drive in Kingdom’s Tourism and Hospitality Development
     

    Saudi Arabia’s Public Investment Fund (PIF) is continuing to expand its investment portfolio in Saudi Arabia’s travel, tourism, and leisure infrastructure across different regions of the country as part of the Kingdom’s Vision 2030 economic and social reform plans. The latest such development came in the form of an announcement by the PIF today that it […]

     
  • The Impressive New Cranes Custom Built to Make the World’s Tallest Building in Saudi Arabia
     

    A video posted to YouTube shows the impressive array and implementation strategy for the custom cranes that will build the world’s tallest building in Jeddah, Saudi Arabia. The Kingdom Tower Jeddah is set to be the world’s tallest skyscraper when construction is completed, soaring up to 1 KM (almost 3,300 feet). The original design was to be one-mile-high […]

     

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