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The oil price: The Saudi project, part two
In the long run, there are signs that a restructuring of the market is starting, which could eventually lead to high-cost producers going bust or marginal areas being abandoned. Large oil firms have announced cuts in capital spending of over 20% for this year. BP, for example, will spend $20 billion in capital projects in 2015, compared with $23 billion in 2014. New discoveries are down even more steeply. According to IHS, a research firm, new finds of oil and gas were the equivalent of 16 billion barrels last year, the lowest for 60 years.
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Prominent Saudi Columnist Notes Arab Support for Israeli Strike on Hezbollah
To be sure, Rashed stated clearly that this new attitude does not mean Arabs have come to love Israel, but rather that they are changing their view of the region based on the age-old concept "the enemy of my enemy is my friend." Deeper Arab acceptance of Israel will need to wait for a peace deal with the Palestinians, he argued, but in the meantime Arabs could accept a tacit alliance with Israel in the event of a regional war with Iran.
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Saudi king’s son on fast track to power
Although a capable individual, it was still too early to determine whether the young prince had the stamina to do so many things, and do them well. The eldest son of the monarch’s second wife, Princess Fahdah Bint Falah Al Hithlain, from the eastern Ajman tribe that backed the Al Saud starting in the early 20th century and whose daughters married extensively into the family, Prince Mohammad had a full brother, Turki Bin Salman, who was formerly the chairman of the Saudi Research and Marketing Group that publishes the pan-Arab daily Al Sharq Al Awsat.
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Saudi Aramco said to be in talks for $10bn loan
One of the sources said the loan would be structured as a revolving credit facility, giving Aramco flexibility to opt when it wants to withdraw cash.
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US-led coalition against Islamic State meets in Saudi Arabia
Military chiefs from 26 nations involved in the U.S.-led coalition battling the Islamic State group began a two-day meeting in Saudi Arabia on Wednesday, the Saudi Press Agency reported. SPA said the meeting was aimed at giving military leaders an opportunity to exchange views about the fight against the extremist group, which controls large parts of Iraq and Syria.
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Kingdom aims at 100 percent wastewater reuse by 2025
Saudi Arabia aims to reuse over 65 percent of its water by 2020 and over 90 percent by 2040 by transforming its existing and planned wastewater treatment assets into source water suppliers across all sectors. Valued at over $4.3 billion by Global Water Intelligence, the Kingdom’s water reuse market is the third largest in the world.
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Growing Telecoms Market
Saudi Arabia’s Information and Communication Technology (ICT) market is the largest in the Middle East and represents 68% of the total sector in the Arabian Gulf. The Kingdom’s public and private sectors rely heavily on the services and products of foreign companies, so representing significant opportunities for international suppliers.
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Clash For Civilization
Broad attacks on Islam, Muslim denial of the true character of the threat -- and counterterrorism measures that are so extreme that they become dysfunctional -- can all undermine the security partnerships between Muslim and non-Muslim states that offer the only effective way to fight violent Islamic extremism.
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Saudi Arabia opens top-notch laser lab
The Attosecond Science Laboratory at King Saud University (KSU) in Riyadh hosts an ‘attosecond laser’, which generates ultrashort pulses of light, lasting just a few billionths of a billionth of a second, that can image otherwise invisible electrons as they move similarly fast within atoms. Attosecond lasers were invented in 2001, and facilities now exist at dozens of sites around the world. The Saudi Arabian facility is the result of a collaboration that began in 2008 with the Max Planck Institute of Quantum Optics (MPQ) in Garching, Germany, which hosts its own attosecond laser, and the Ludwig Maximilian University of Munich.
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CNN/ORC poll: Majority of Americans oppose Netanyahu invite
The nationwide poll, released Tuesday, shows 63% of Americans say it was a bad move for congressional leadership to extend the invitation without giving President Barack Obama a heads up that it was coming. Only 33% say it was the right thing to do. And as the Israeli-Palestinian conflict continues to simmer in the Middle East, the survey found that a similar majority thinks the U.S. should stay out of that fight altogether.
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