Saudi oil

Counter-drone director talks about testing in Saudi Arabia and regional expansion

BEIRUT – The Saudi government knows from experience the threat posed by drones. The September 2019 attack on the Abqaiq and Khurais oil facilities by swarms of drones and low-level cruise missiles revealed a gap in the kingdom’s defenses, despite a mix of long, medium rigs. and short range. The …

Read More »

Who’s Who: Reem Alharbi, Head of LinkedIn Operations in Saudi Arabia

RIYADH: As Saudi Arabia’s Vision 2030 reform plan celebrates its fifth anniversary, citizens of the country are examining the many ways the ambitious plan has affected their daily lives. The overarching goal of the plan, which is to move the Kingdom away from an oil-based economy, caused the entire nation …

Read More »

Saudi Arabia’s switch to renewables could save it $ 200 billion

By Irina Slav – April 26, 2021, 1:00 p.m. CDT Saudi Arabia could save some $ 200 billion over the next decade by switching from crude oil to natural gas and renewables for power generation, Reuters reports, quoting the Kingdom’s finance minister. “Instead of buying fuel in international markets for …

Read More »

Saudi, US initiative for net zero oil producer arouses skepticism

Five countries responsible for 40% of oil and gas production have launched an unprecedented climate alliance – but leaving fuel in the ground is not on the agenda Five major oil and gas producing countries have created a “Net Zero Producers Forum”, as part of a new climate alliance covering …

Read More »

Lebanon urges Saudi Arabia to reconsider product ban

BEIRUT (AP) – Lebanon on Monday called on Saudi Arabia to reconsider its decision to ban Lebanese products from entering the oil-rich kingdom over a drug trafficking case. Officials have vowed to investigate and institute tough new measures. The announcement came after a meeting attended by the Lebanese president, prime …

Read More »

Saudi Arabia sends oxygen to India to overcome acute shortage

RIYADH: As Saudi Arabia’s Vision 2030 reform plan celebrates its fifth anniversary, citizens of the country are examining the many ways the ambitious plan has affected their daily lives. The overarching goal of the plan, which is to move the Kingdom away from an oil-based economy, caused the entire nation …

Read More »

Saudi Arabia crosses SR2 trillion foreign investment milestone in 2020 despite pandemic

RIYADH: Foreign investment in Saudi Arabia surpassed SR 2 trillion ($ 0.53 trillion) for the first time at the end of 2020, despite the financial impact of the COVID-19 pandemic. The total value of investment from abroad increased 9% year-on-year, to SR 173.3 billion, in 2020, compared to SR 1.833 …

Read More »

Saudi Arabia sees more than $ 200 billion in savings thanks to energy reform plan

RIYADH: Saudi Real Estate Refinance Company (SRC), the mortgage finance giant owned by the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), is considering an international bond issue this year, possibly in the United States, its CEO told Arab News. The CBC last month issued a SR 4 billion …

Read More »

Saudi Arabia joins new climate change forum – State News Agency

General view of Saudi Aramco’s Ras Tanura Oil Refinery and Oil Terminal in Saudi Arabia on May 21, 2018. Photo taken on May 21, 2018. REUTERS / Ahmed Jadallah / Saudi Arabia will join the United States, Canada, Norway and Qatar in forming a new platform for oil and gas …

Read More »