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  • Google’s Eric Schmidt Headlines Impressive Speaker List for the Upcoming Global Competitiveness Forum (GCF) on January 25th in Riyadh
     

    Google’s executive chairman Eric Schmidt will speak at the upcoming Global Competitiveness Forum (GCF) in Riyadh, Saudi Arabia, according to the Forum’s website. The technology billionaire headlines a long list of high-level speakers set to descend on Riyadh to discuss investment and development in the region and beyond.   Schmidt joined Google in 2001 and served […]

     
  • Ras Tanura Clean Fuels Project in Saudi Arabia Suspended Due to Low Oil Price
     

    Saudi Arabia’s $2 billion Ras Tanura clean fuels project has been suspended by Saudi Aramco following a steep drop in oil’s price since July 2014, Reem Shamseddine of Reuters reports.  The Ras Tanura clean fuels project was due to be a part of a second phase of upgrades to Aramco’s refineries, but may resume in a […]

     
  • As Oil Dips Below $70, American Producers Wonder Where the Bottom Is and Eye an End to Export Ban
     

    The second half of 2014 has been a lively period for the U.S. shale industry.  Fueled by new technologies and a soaring oil price, everyone from upstart producers to big oil were taking advantage of new production opportunities in United States in shale deposits.  Over the last year, the U.S. alone accounted for 82% of non-OPEC production growth, […]

     
  • Opinion: Teaching Religious Tolerance in Schools
     

    In recent months, much attention has been given to the expanding influence of jihadist groups and religious extremists in the Middle East. The rise of the Islamic State (ISIS) in Iraq has been attributed, in part, to former Prime Minister Maliki’s sectarian policies. The Houthis, a Shiite rebel group in Yemen have occupied Sanaa and […]

     
  • Saudi Aramco: Not Your Ordinary NOC
     

    Last month Saudi Aramco opened a 50,000 square foot, state-of-the-art research center in Houston that Saudi Aramco President and CEO, Khalid Al-Falih called, “an upstream research center like no other.”  It will be an extension of Saudi Aramco’s Exploration and Petroleum Engineering Center’s Advanced Research Center (EXPEC ARC) and it’s Research and Development Center both […]

     
  • SAGIA in Transition
     

    The Saudi Arabian General Investment Authority (SAGIA) was established in 2000 to be a major driver in the Kingdom’s efforts to liberalize its economy.  It has certainly fulfilled that role and over the last 14 years SAGIA has been a chief strategist, leading promoter and the administrative front office for the Kingdom’s business as Saudi […]

     
  • Nitaqat Three Years On: A Summer 2014 Report Card
     

    Four years into the Arab Spring, Saudi Arabia has been an oasis of relative calm and stability in an otherwise tumultuous Middle East region. This is partially because the perceived social, economic and political dysfunction resulting from Arab Spring reform movements has had a sobering effect on Saudi perceptions.  In fact, many Saudis consider the […]

     
  • Saudi Arabia’s Timely Push for Solar to Reduce Oil Consumption
     

    It’s no secret that Saudi Arabia’s energy consumption is soaring, and that to meet increasing demand, the Kingdom is siphoning off more and more of its crude to power the booming Saudi economy. Although Saudi Arabia has plenty of oil, what is consumed to meet domestic power demand cannot be sold on the market. Writing […]

     
  • PHOTOS: The 2014 SACM Career Fair at the Gaylord Hotel in Washington DC
     

    The recently completed 2014 SACM Career Fair brought together over 12,500 Saudi graduates and leading employers in Saudi Arabia to match talent with opportunities. Leading companies from the U.S., Saudi Arabia and around the world set up booths to meet the recent graduates, introduce their companies, and discuss employment opportunities.

     
  • KACARE and Saudi Arabia’s Frightening Consumption of Energy
     

    Four years ago, King Abdullah City for Atomic and Renewable Energy (KACARE) was established by a royal decree. Public statements highlighted the numerous nuclear and solar power plants that would be built and entered into production during the next 15 to 20 years. Large sums of money have been paid for advisers and global consulting […]

     

MUST-READS

  • Aramco and TotalEnergies to build petrochemical complex in Saudi Arabia

    Saudi Arabia’s ARAMCO and TotalEnergies are going to build a petrochemical complex in the Kingdom, it was announced Thursday. Construction of complex is scheduled to start in 2023 with commercial start up expected in 2027.

  • Aramcon gearing up for Dakar Rally in Saudi Arabia

    The Hail Toyota International Rally event was a stepping stone to the 45th edition of Dakar, which will run from Dec. 31 to Jan, 15, 2023. The Dakar Rally, which will be hosted in Saudi Arabia for the fourth time, will finish on the Kingdom’s eastern sea border. It will include new routes and provide many challenges for its participants. The 15 days of racing will comprise of a prologue and 14 stages, including a four-day excursion into the unexplored desert of the vast Rub’ al-Khali, or empty quarter

  • Saudi Aramco Seeks Investors For $110 Billion Unconventional Gas Project

    At the end of last year, Aramco awarded $10 billion worth of subsurface and EPC contracts for the Jafurah field development, and said it expects more than $100 billion in total overall lifecycle investment at Jafurah. Production at the field is expected to reach up to two billion standard cubic feet per day (scfd) of sales gas, 418 million scfd of ethane, and around 630,000 barrels per day of gas liquids and condensates by 2030, according to Aramco.

  • Aramco Gulf Operations, Kuwait’s KGOC agree to develop Durra gas field, Saudi news agency reports

    Saudi Aramco Gulf Operations Company signed a Memorandum of Understanding on Sunday with Kuwait Gulf Oil Company (KGOC) to develop the joint Durra gas field, Saudi state news agency (SPA) reported. Saudi Energy Minister Prince Abdulaziz bin Salman and Kuwaiti Oil Minister Badr Hamed Al Mulla attended a signing ceremony in Kuwait City, according to SPA. The development aims at producing 1 billion cubic feet of gas and 84,000 barrels of liquefied gas per day, according to the Kuwaiti state news agency.

  • Saudi Aramco’s Luberef expects to raise up to $1.32 billion from IPO

    Saudi oil giant Aramco's (2222.SE) base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company's issued share capital, or 50.045 million shares, at between 91 and 99 riyals each, the company said in a statement. State-led IPO programmes in Saudi Arabia, Abu Dhabi and Dubai have helped equity capital markets in the oil-rich Gulf, in sharp contrast to the United States and Europe, where global banks have been trimming headcount in a dealmaking drought.

  • Aramco discovers two new Saudi gas fields – SPA

    Saudi Arabia's energy minister said Saudi Aramco had discovered two new natural gas fields, Awtad and AlDahna, in the country's eastern region, state news agency SPA reported on Wednesday. Awtad was discovered southwest of the Ghawar field, and gas flowed from one well, Awtad-108001 well at a rate of 10 million standard cubic feet daily, plus 740 barrels of condensate, and another well, Awtad-100921 at 16.9 million standard cubic feet daily, and 165 barrels of condensate, SPA said.

  • Saudi Aramco Refiner Hires Banks for $1 Billion Share Sale

    Saudi Aramco Base Oil Co., a refining unit of the state-owned oil producer, named banks including Citigroup and HSBC Holdings Plc for its initial public offering on the Saudi stock exchange, which could raise about $1 billion. The company, also known as Luberef, is planning to sell 50 million shares, or a nearly 30% stake, according to a statement. The price at which all subscribers in the offering will purchase the shares will be determined after the book-building period.

  • Aramco unit Luberef set for key IPO; wins nod for Saudi listing

    Saudi oil giant Aramco has announced that its base oil subsidiary, Luberef, has won approval from the kingdom’s stock market regulator, Capital Market Authority (CMA), to launch its an initial public offering (IPO) and list its shares on the main market of the Saudi Stock Exchange.

  • Saudi Aramco signs multiple deals worth $11 billion in investment push

    With 51 domestic and international manufacturers, Saudi Aramco, one of the largest energy producers in the world, has signed 59 corporate procurement agreements as part of its ‘In Kingdom Total Value Add’ program (iktva). These $11 billion work agreements—signed with companies like Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC—can create 5,000 new jobs in the kingdom.

  • Saudi Aramco signs multiple deals worth $11 billion in investment push

    With 51 domestic and international manufacturers, Saudi Aramco, one of the largest energy producers in the world, has signed 59 corporate procurement agreements as part of its ‘In Kingdom Total Value Add’ program (iktva). These $11 billion work agreements—signed with companies like Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC—can create 5,000 new jobs in the kingdom.