Echoing statements made by HRH the Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud at the original announcement of Saudi Green Initiative, the UK’s Prime Minister Boris Johnson has said the world must go “further and faster” to combat climate change by the middle of the century. In a statement to the inaugural Middle […]
Industry Trends
Posted inEnergy Transition
BlackRock CEO Larry Fink: ‘Next 1,000 unicorns will be sustainable companies’
Speaking at the Middle East Green Initiative Summit in Riyadh, BlackRock chairman and CEO Larry Fink predicted the next 1,000 global companies valued at more than one billion dollars will be sustainable companies. Mr Fink said: “It’s my belief that the next 1,000 unicorns – companies that have a market valuation over a billion dollars […]
Posted inNews
US Special Envoy John Kerry urges public and private sector to work together on climate action
John Kerry, the US Special Presidential Envoy for Climate, has urged governments and the private sector to work together on climate action while speaking at the Middle East Green Initiative in Riyadh. Special Envoy Kerry said today: “I would just say to everybody, that this is not about politics. This is not about strategic balance […]
Posted inNews
OPEC Fund and Asian Infrastructure Investment Bank to provide funding in Egypt
The OPEC Fund for International Development and Asian Infrastructure Investment Bank (AIIB) have signed a US$200 million loan agreement with the National Bank of Egypt (NBE), Egypt’s largest commercial bank, to support the bank’s on-lending to hard and soft infrastructure sub-projects. The financing package includes a US$150 million loan from AIIB and a US$50 million […]
Posted inExploration & Production
Oil rises further as energy supply crunch continues to eat up global tight supply
Oil prices continue to gain this week as global fuel supply tightness seems to fail to meet the needs of the growing energy demand, with more upside anticipated going forward
The global energy supply crunch continues to show its teeth, as oil prices extend their upward march this week, a result of traders pricing in the ongoing rise in fuel demand – which amid limited supply response is depleting global stockpiles. The relative calamity of Covid-19 and return to normalized mobility amid an energy […]
Posted inEnergy Transition
QatarEnergy and H2Korea to cooperate on hydrogen projects
This is part of a series of agreements recently signed by QatarEnergy expanding its international presence
QatarEnergy and Korea’s Hydrogen Convergence Alliance (H2Korea) signed an agreement to cooperate on hydrogen projects. The agreement provides a framework of cooperation between developing hydrogen energy sectors in both countries, and to share ideas and specific plans to encourage the growth of the hydrogen industry and the expansion of the hydrogen energy supply, in addition […]
Posted inEnergy Transition
UK’s Prince Charles highlights “dangerously narrow” window for green recovery
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 […]
Posted inProducts & Services
281% jump in investment in Saudi Arabia’s industrial sector: Knight Frank
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 […]
Posted inEnergy Transition, News
Saudi Aramco aims to achieve net zero emissions by 2050: CEO
This follows the Saudi Crown Prince's announcement of the ambition for KSA to achieve net zero emissions by 2060
Saudi Aramco is aiming to achieve net zero emissions by 2050, the company’s President and CEO Amin Nasser said at the Saudi Green Initiative Forum on Saturday. The announcement came after HRH the Crown Prince Mohammed bin Salman Al Saud revealed that Saudi Arabia aims to achieve net zero emissions by 2060 through the Carbon […]
Posted inEnergy Transition
KSA Crown Prince sets national net zero emissions goal for 2060
Crown Prince Mohammed bin Salman Al Saud has launched the first set of Saudi Green Initiatives
Crown Prince Mohammed bin Salman Al Saud, the Head of the Higher Committee for the Saudi Green Initiative (SGI), launched the first set of SGI environmental initiatives at its inaugural annual forum. SGI will also monitor the impact of initiatives that have been previously announced. In his opening remarks, HRH the Crown Prince announced a […]
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