Prince Charles said that "the kingdom's global leadership in energy transition is critically important".
The UK’s Prince Charles addressed the Saudi Green Initiative Forum in Riyadh, noting the importance of cleaner energy and the need for a green recovery. “At last, and after far too long, climate change and biodiversity loss are clear global challenges of paramount importance to the world,” HRH the Prince of Wales said. “At the […]
The industrial sector has managed exceptional expansion in Saudi Arabia despite market conditions
Despite the headwinds to global economic growth as a result of the pandemic, the industrial sector stands out due to its exceptional expansion, according to the H1 Saudi Arabia Industrial Market Review by global property consultant, Knight Frank. Faisal Durrani, Partner – Head of Middle East Research, Knight Frank, explained: “The government’s transformational vision for […]
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Oil prices returned to gains on Friday as profit taking gave turn to the reality of supply and storage market concerns
Yesterday may have been a day of profit taking by the most impatient market participants but in tight market conditions that doesn’t last and supply tightness – in conjunction with falling storage levels – helped prices rise again. The upside risk to oil prices is real in the very near-term as there is little incentive […]
Oil prices rose in early trading hours as US stocks surprisingly fell further, but gains were overturned as traders seem to think it’s a good time to cash in
While the oil market expected crude inventories to finally rise, the EIA report of yet another draw last week helped prices rise even further in early trading, with Brent stunningly hitting a new high in years. The storage level of crude oil is the lowest in years in the largest US hub and that caused […]
The month-long run-up in commodity prices shows no sign of easing with the main engine continuing to be the global energy crisis and its direct impact on other sectors, not least the energy-intensive industrial metal sector. Shortages of fuel leading to record-high prices has forced reductions in metal production from China to Europe, thereby exacerbating […]
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Operational technology is increasingly coming into the cybersecurity spotlight, with OT and IT converging, it could represent a major risk for oil and gas companies with thousands and thousands of physical assets, many of which are connected. Many of those assets are back of mind, like old equipment still in the field, routers, and assets […]
Oil prices declined today as traders are pricing in an expected build in US crude oil stocks and China’s intent to lower coal prices
Traders are today pricing in the first bearish developments for the oil market in a while, the expected build in US crude stocks and China’s intent to normalize coal prices – which in turn will limit coal to oil switch for power generation. Prices are declining today and the depth of the dive will very […]
Oil prices continue their ascent as the global energy supply crunch intensifies and cold weather starts to add weight on the market
The global energy supply crunch and cold weather in the Northern Hemisphere are helping oil prices continue their stunning rally for yet another week. The crunch is not only limited to main fuels for electricity production such as gas and coal, but also extends to oil supply. While it is still unsure just how transitory […]
