Saudi Arabia’s KAPSARC, China’s CNPC ink agreement to advance energy research and innovation
The King Abdullah Petroleum Studies and Research Center (KAPSARC), a leading Riyadh-based advisory think tank, signed a memorandum of understanding (MoU) on Tuesday with the Economics & Technology Research Institute (ETRI) — a research institute affiliated with the China National Petroleum Corporation (CNPC) — to foster cross-regional cooperation in energy research. KAPSARC President Fahad […]
Energy Minister: Saudi Arabia to host regional center for Chinese factories
Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia will host a regional center for Chinese factories. “Saudi Arabia and China endeavor to enhance cooperation in the energy sector supply chains, by establishing a regional center for Chinese factories in the Kingdom by taking advantage of the Kingdom’s distinguished location among the three […]
Saudi construction strongest in MENA with $1.1trln project pipeline
Saudi Arabia’s construction industry continues to lead the Mena region despite the macroeconomic conditions hitting the sector globally, according to leading real estate expert JLL. The kingdom has been maintaining its position as the strongest market across the region with the highest total value of project awards for four consecutive years. […]
Russia sanctions will be ‘key factor’ for OPEC decisions in 2023
The impact of Russian sanctions will be the biggest influence on the supply ‘call’ for OPEC in 2023, according to S&P Global Commodity Insights. One potential complication to deeper OPEC+ cuts, later in 2023, will come from ambiguity over the timing of a planned shift to higher production baselines, Paul Sheldon, chief geopolitical advisor, analytics, […]
GCC ready to take the lead in energy transition, say experts
The GCC is well positioned to lead the energy transition, said industry leaders at the16th Gulf Petrochemicals and Chemicals Association (GPCA) Forum, which got underway today (December 6) in Saudi capital Riyadh. The two-day forum, being held at the Hilton Riyadh Hotel & Residences, was inaugurated by Saudi Minister of Energy Prince […]
Saudi’s SWPC invites bids for Juranah Independent Strategic Water Reservoir project
Saudi Water Partnership Company (SWPC), the principal off-taker for water and wastewater projects in Saudi Arabia, has issued Request for Proposal (RFP) Juranah Independent Strategic Water Reservoir (ISWR) project. The ISWR, with a total capacity of 2,000,000 cubic metres, is expected start commercial operations in the first quarter of 2027, SWPC said in a statement […]
Xi travels to Saudi for three days of Mideast outreach
Chinese President Xi Jinping arrives in Saudi Arabia on Wednesday for three days of meetings with regional leaders likely focused on energy. The overseas trip is only Xi’s third since the coronavirus pandemic began in 2020, and his first to Saudi Arabia, the world’s biggest crude oil exporter, since 2016. It will feature bilateral meetings […]
Saudi Arabia and China: Long history, bright future prospects
Diplomatic relations between the Kingdom of Saudi Arabia and the People’s Republic of China are witnessing a distinguished and solid development at a steady pace towards greater cooperation and mutual understanding in various fields for the benefit of the two friendly countries and peoples. Close relations between the two countries were initiated 80 years […]
Saudi’s Advanced Polyolefins closes $1.6bln Shariah-compliant funding for 3 plants
Saudi-listed Advanced Petrochemical Company said its subsidiary Advanced Polyolefins Industry Company has closed Shariah-compliant facilities worth 6.1 billion Saudi riyals ($1.62 billion) to finance the construction of three plants in Jubail Industrial City. The financial close comes after the company signed various Islamic facility agreementswith a consortium of financial institutions on 6 July 2022 to construct […]
Saudi’s SWPC invites bids for Ras Mohaisen – Baha – Makkah water transmission project
Saudi Water Partnership Company (SWPC), the principal off-taker for water and wastewater projects in Saudi Arabia, has issued Request for Proposal (RFP) for Ras Mohaisen – Baha – Makkah Independent Water Transmission Pipeline (IWTP) project. The IWTP, with a total capacity of 300,000 cubic metres per day, is expected start commercial operations in the third quarter of […]