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As Saudi Non-Oil Revenue Soars, Uncertainty Looms Over Oil Market
Saudi Arabia saw a significant boost in non-oil revenue in the third quarter of this year, with an increase of 63% year-on-year to SR123 billion ($32.8 billion), new data shows, an encouraging trend for policymakers as the market for oil continues on an uncertain path in the face of a global pandemic and global economic slowdown.
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Images: Architect Jean Nouvel Reveals Design for Sharaan Resort in Al-Ula, Saudi Arabia
French architect Jean Nouvel unveiled his design for Sharaan, a new resort hidden within the rock dwellings of Al-Ula, a cultural oasis in north-west Saudi Arabia.
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Top Names in Golf Commit to Saudi International Tournament in February
Saudi Arabia’s annual golf tournament secured two of the sports top names to compete in February, winning commitments from the world’s top-ranked golfer and the latest major championship winner on Monday to play in the Saudi International. Dustin Johnson, the world’s number one golfer, and Bryson DeChambeau, who won the U.S. Open by six strokes in […]
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Arab News Launches ‘Research and Studies’ Unit to Deliver ‘Thought-Provoking Studies by Experts on Regional Affairs’
Arab News, Saudi Arabia’s leading English-language daily news publication, has announced the establishment of a new Research and Studies Unit (RSU) which will “deliver thought-provoking studies written by a team of acclaimed resident and non-resident experts on a number of regional affairs,” according to a press release from the company.
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U.S. Again Tops Arms Exporters to the Middle East, Saudi Arabia, Report Says
A newly released report by the Center for International Policy finds the U.S. dominated arms and defense exports to the Middle East region between 2015-2019, accounting for nearly half of all deliveries of major weapons systems.
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G20 Trade and Investment Ministers Meet as Kingdom Reportedly Suggests Delay Main Summit until December
Trade and Investment Ministers from the G20 held a meeting today under the Saudi G20 Presidency to strengthen trade and investment policy cooperation towards an inclusive and sustainable economic growth amid the COVID-19 pandemic.
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Saudi Arabia’s Oil Exports to the U.S. Hit 35-Year Lows as Goldman Sees Oil at $65 Next Year
Saudi Arabia’s oil exports to the United States fell nearly 50% year-on-year in August 2020, reaching a 35-year low in oil imported from the Kingdom, according to CNN which cited info from ClipperData.
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Brent Oil Reaches 5 Month High as Saudi Aramco Announces Discovery of Two New Oil and Gas Fields
The price of oil on the UK’s Brent Oil index reached a 5-month high on Monday as supply output cuts continue to push the price of oil higher, according to reports.
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PIF Sets Up New Real Estate Subsidiary to Help Meet Increasing Local Demand for Housing
Saudi Arabia’s Public Investment Fund (PIF) said it had set up a new real estate subsidiary, called “Roshn,” to help meet increasing local demand for housing, according to reports.
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Saudi Mega-city NEOM Signs Agreement with US-based Bechtel for Executive Project Management Work
Saudi Arabia’s futuristic mega-city NEOM has awarded a contract to U.S.-based Bechtel for executive project management work on the development of the primary, base infrastructure for NEOM, according to a press release issued by NEOM.
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MUST-READS
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Opinion: Are Arab militias losing their usefulness for Iran?
“The overall picture is that Iran’s expansion peaked in 2018 and has since entered a new phase, in which Tehran has not suffered any strategic military setbacks but is hitting a wall. Iran’s biggest fundamental problem is that a majority of its allies … frequently succeed in armed confrontations. Yet they are subsequently incapable of ensuring political and economic stability,” said Middle East scholar Guido Steinberg.
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Who is Sgt. Maj. of the Army Michael A. Grinston?
What his official biography won’t tell you is that he has seen the very worst of combat through six combat deployments, earning him five Bronze stars — two with valor devices that are still difficult for him to talk about, that he would give back in a second in return for the soldiers he’s lost. It doesn’t tell you that most of the time, you’ll find him wearing the 1st Infantry Division combat patch in remembrance of those soldiers he lost on his first deployment to Iraq.
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Libya’s elections are on December 24. But should they be postponed?
The 2011 Arab Uprisings, which began in neighboring Tunisia, led to the ousting of longtime Libyan dictator Muammar Gaddafi, plummeting the country into chaos and widespread violence. Since then, Libya, after a NATO intervention in 2011, underwent major civil strife and witnessed polarizing divisions between the east and west of the country that rendered it a de facto failed state.
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Can’t go to Mecca? Saudi Arabia brings hajj to the metaverse with ‘VR Black Stone’ experience
The "Virtual Black Stone Initiative" allows Muslims to "experience the Hajr Aswad virtually prior to the pilgrimage to Makkah [Mecca]", according to the official Haramain Facebook account.
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Opinion: What Does U.S. “Withdrawal” from the Middle East Mean?
The debate on U.S. policy in the Middle East needs to move away from abstractions like “commitment” versus “withdrawal” and engage with the real questions of just what interests in the Middle East justify the presence of U.S. military force and what threats justify its use.
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Without a Nuclear Deal, How Close Is Iran to a Bomb?
Iran has accumulated enough enriched uranium to construct several bombs should its leaders choose to purify the heavy metal to the 90% level typically used in weapons. Moreover, it has not only returned to enriching to 20% but has for the first time gone to 60%, a level of purity the International Atomic Energy Agency says is technically indistinguishable from weapons-grade fuel.
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What is it like to shoot an international production in Saudi Arabia?
“We had a really good experience,” says Nelson. “The country isn’t what you think of it in the press. We made the movie we wanted to make with nobody behind us going, ‘Sorry guys, you’ve got to do it like this’.
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What is it like to shoot an international production in Saudi Arabia?
If you build it, will they come? Saudi Arabia is investing heavily in creating a world-class locations hub. But what is the reality of shooting in this vast country of which little is still known? Less than four years after it lifted its ban on cinemas, Saudi Arabia’s aim of becoming the Middle East’s foremost filming location seems to be bearing fruit with two major Hollywood movies shooting in the country. The cameras have just started rolling on Thunder Road’s Kandahar starring Gerard Butler while Desert Warrior, starring Anthony Mackie and Aiysha Hart, has been shooting since September.
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Will other GCC countries follow UAE’s suit in a Saturday and Sunday weekend?
“The willingness of other GCC countries to follow will be attenuated by the fact that only Qatar has a comparable presence of expatriates as a percentage of the population,” said Omar Al-Ubaydli, director of research at the Bahrain Centre for Strategic, International and Energy Studies.
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Analysis: Is Shale Gas A Gamechanger For Saudi Arabia?
"All other factors remaining equal, one billion cubic feet of gas equals 0.167 million barrels of oil equivalent, so 2.2 Bcf/d (the future Jafurah output) equals 0.3674 million barrels of oil equivalent, or 367,400 barrels. Therefore, the total projected new amount of gas to come from Jafurah is around 367,400 barrels per day, which is not even enough to cover the current amount of oil being (400,000 bpd) burned for power generation in Saudi Arabia, even if Aramco’s already elevated gas production holds steady."
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