MUST-READS

• Is Saudi Aramco cooling on crude oil? Don’t bet on it

  Has Saudi Arabia stopped believing in a bright future for petroleum? That is the question that in recent weeks has hung over Saudi Aramco. The desert kingdom’s national oil goliath has a central position in the world’s oil markets. Its market value of $2trn, five times that of the second-biggest oil firm, ExxonMobil, and its rich valuation relative to profits are predicated in large part on its bountiful reserves of crude and its peerless ability to tap them cheaply and, as oil goes, cleanly (see chart 1). So Saudi Arabia’s energy ministry stunned many industry-watchers in January by suspending the firm’s long-trumpeted and costly plans for expanding oil-production capacity from 12m to 13m barrels per day (b/d). Was it proof that even the kingpin of oil had finally accepted that oil demand would soon peak and then begin to decline?

• Al-Urubah Park construction begins in Riyadh

  The Board of Directors of the Royal Commission for Riyadh City (RCRC) announced the start of construction work of Al-Uruba Park, one of the largest parks in the city of Riyadh, as part of the ‘Green Riyadh’ program. The project will be implemented on a sprawling area covering 754,000 square meters. More than 600,000 trees and shrubs will be planted, covering 65 percent of the park area. The park is distinguished by its vital location at the intersection of Prince Turki bin Abdulaziz Al-Awwal Road with Al-Urubah Road, and that facilitates easy access for the residents from various parts of the city. The park contributes to raising the quality of life, providing recreational places for residents and visitors, and transforming the city of Riyadh into one of the most sustainable cities in the world, the commission said in a press statement.

• Saudi King urges international community to halt ‘brutal crimes’ against Palestinians

  In a statement marking the commencement of Ramadan, Saudi Arabia’s King Salman emphasized the international community’s duty to halt the “brutal crimes” perpetrated against Palestinians. “It pains us that the arrival of the month of Ramadan this year coincides with the ongoing attacks endured by our brothers in Palestine, and we stress the need for the international community to assume its responsibilities to stop these brutal crimes and provide safe humanitarian and relief corridors,” the official Saudi Press Agency (SPA) quoted King Salman as saying on Sunday.

• Saudi soccer club Al Hilal aims for world record wins streak after $380M transfer spend on players

  Saudi Arabian soccer club Al Hilal will target a 28th straight win in competitive games on Tuesday that could set a world record for a top-tier team. Fueled by Serbia forward Aleksandar Mitrovic's goals during Neymar's long-term injury, Al Hilal aims for the record in a second-leg game in the Asian Champions League quarterfinals against domestic rival Al Ittihad.

• Fourth Saudi charity campaign to launch Friday

  The fourth Saudi annual national campaign for charitable activities is set to launch on Friday, the Saudi Press Agency reported early Tuesday. Following King Salman‘s approval, the campaign will continue until the end of the holy month of Ramadan. Donations will be received through the secured Ehsan platform at Ehsan.sa or by calling 8001247000. Last year’s campaign in its third edition received more than 10.4 million donations of over SR760 million ($202 million), benefiting more than 398,000 people.

• A new exciting KAFD Ramadan tent is coming to Riyadh 2024

  Looking to dine with skyscraper views? The new KAFD Ramadan tent has you sorted. KAFD is bringing a unique Ramadan tent experience from Tuesday March 12 to Thursday April 11 – and everyone’s welcome to join. What’s more, all your favourite Ramadan highlights – other than iftar and suhoor – will be taking place at the tent, too. Here’s everything you need to know about the KAFD Ramadan nights.

• From Sumosan To Raoul’s, These 9 Restaurants In Riyadh Are Closing Their Doors For Ramadan

  As we embark on this sacred journey, fasting becomes a physical act and a spiritual exercise. It’s a chance to cleanse both body and soul. But wait, what’s that? The sound of restaurants closing their doors? Fear not, fellow foodies, for this is no cause for alarm. It’s simply a culinary pause or closure by the Riyadh Restaurants, a temporary hiatus to honour the traditions of Ramadan.

• Introducing Attaché: MDLBeast’s music hub is coming to Riyadh

  Saudi Arabia, get ready to turn up the volume. The team behind MDLBeast Soundstorm have announced that they are transforming an equestrian club into a music venue. Located in Diplomatic Quarter, Riyadh, Attaché is scheduled to open in 2024.  Attaché by MDLBeast will be located between rows of embassies in the Diplomatic Quarter. The neighbourhood is popular with the international community and off-duty diplomats. Expect a creative hub that brings together local and regional artists.

• US leads global oil production for sixth straight year- EIA

  U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday. In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the agency said. "The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row," the EIA added. The EIA says it is unlikely that the record will be broken by another country in the near term.

• How Tony Douglas Is Building Riyadh Air To Be A Better Airline

  Despite many years in aviation and a high profile in the sector, Tony Douglas has never launched an airline before. While he did great things at Etihad, his remit there was very much to come in and deliver transformation in five years, which he successfully achieved. But the proposition of starting an airline from scratch, with no legacy hangovers, presented the perfect opportunity for the next step in his career.

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