Saudi Arabia aims for 150k new jobs in chemical plants and renewable energy, says minister

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RIYADH: Economic development, conflict resolution, and future resilience are all rooted in cross-border human capital readiness, a panel of experts claimed during the Human Capability Initiative in Riyadh. As the global community grapples with an ever-growing climate crisis, geopolitical tensions, and an imminent “fourth” industrial revolution, Saudi Arabia’s Permanent Representative to the EU, Haifa Al-Jedea, … Read more

Demand for fossil fuels not likely to diminish anytime soon: Saudi energy minister

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RIYADH: The Saudi capital is set to host the first edition of the Human Capability Initiative on Feb. 28 and 29, an event seeking to empower and uplift capabilities for all.  Touted to be the first-ever global cooperative platform designed to unify international efforts and enrich the global dialogue on the challenges and opportunities for developing … Read more

Saudi Arabia unveils major gas discovery in Jafurah Field: Ministry of Energy 

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Startup of the Week – supply chain platform Omniful aims to boost Saudi Arabia’s e-commerce space CAIRO: E-commerce and supply chain operations platform Omniful is aiming to significantly boost its presence in the Saudi market after a successful $5.85 million seed funding round. In an interview with Arab News, CEO and co-founder of Omniful, Mostafa … Read more

Energy transition not just confined to climate change, says Aramco official 

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RIYADH: Energy security and equitable transition should be prioritized along with climate change as the world sails toward a sustainable future, according to an Aramco official.  Speaking at a panel discussion during the Saudi Capital Market Forum in Riyadh on Tuesday, the vice president of energy and economic insight at Saudi Aramco, Musaab Al-Mulla, said … Read more

Saudi and UK officials discuss cooperation and opportunities in energy sector

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RIYADH: Innovation is a priority for HSBC Saudi Arabia as it aims to enhance its offerings, according to the bank’s CEO. Faris Al-Ghannam, CEO and board member of HSBC Saudi Arabia, provided a comprehensive overview of the financial institution’s prospective plans, along with the Kingdom’s economic landscape and the investment opportunities it presents.  In an … Read more

OPEC’s Al-Ghais: Peak oil delay highlights need for inclusive energy transition

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DUBAI: Haitham Al-Ghais, the secretary-general of OPEC, stated on Tuesday that the peak of oil demand is expected to be delayed, likely surpassing projections to extend beyond 2045, underscoring the imperative for an “inclusive” energy transition. Addressing the World Government Summit, the Kuwaiti executive highlighted that peak oil demand is anticipated to escalate, reaching 116 … Read more

ITFC, Djibouti sign $90m Murabah deal to secure energy supply 

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Riyadh Air inks deal with Sabre Corp. to enhance operational efficiency RIYADH: The operational efficiency of Saudi Arabia’s upcoming airline Riyadh Air is poised for improvement with the signing of an agreement with Texas-based Sabre Corp.  Under this deal, the software and technology provider will help the carrier drive incremental revenue gains through end-to-end network planning and … Read more

Aramco eyes production of all energy sources, CEO says

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RIYADH: Achieving global power security is everyone’s responsibility, according to Saudi Energy Minister Prince Abdulaziz bin Salman.  Speaking at the International Petroleum Technology Conference in Dahran on Feb. 12, the minister said that the Kingdom is continuously working toward ensuring market stability.  He added that Saudi Arabia has significant surplus oil production capabilities. “We are … Read more

Energy security is a global responsibility: Saudi minister

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RIYADH: Investments in Saudi Arabia’s tourism and entertainment sectors will continue to accelerate in 2024 as the Kingdom steadily diversifies its economy, according to an expert.  In a recent commentary, Samy Chaar, chief economist at Swiss banking group Lombard Odier, said shifting away from hydrocarbon production would be essential to Saudi Arabia’s and the Middle … Read more

OPEC Fund invests $1.7bn for global climate change and energy transition in 2023

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Saudi Arabia in prime position to become global leader in AI regulation, expert says LONDON: Saudi Arabia is well placed to become a global leader in the regulation of artificial intelligence by initiating the discussions that will help craft a consensus on how such rules should operate, an expert on the emerging technology said. Ian Khan, … Read more