The discussion centred around aligning with the objectives of Saudi Arabia’s Vision 2030 and China’s Bel and Road Initiative
Saudi Arabia
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‘Saudi lollipop’ for oil markets: Kingdom announces OPEC production cuts
Saudi Arabia will make additional voluntary cuts of 1 million barrels a day to its oil production in an effort to increase prices following a long OPEC+ meeting in Vienna, Financial Times reported. The 1 million b/d cut will initially be for July but could be extended, Saudi Energy Minister Prince Abdulaziz said, describing it […]
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Saudi Arabia’s energy megaprojects: 3 upcoming developments you need to know about
Saudi Arabia has announced several ambitious plans to launch a wave of megaprojects that are set to transform the country into a global economic powerhouse, as reported by Arabian Business. With investment totaling billions of dollars, the kingdom is embarking on a journey to diversify its economy away from oil, create jobs, and boost its international standing […]
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Chevron JV secures engineering contract for Rabigh complex
Chevron Lummus Global (CLG) announced a recent contract award from Saudi Arabia’s TAQAT Development Co for a new 75,000 tonnes per annum (TPA) graphite complex in Rabigh, Saudi Arabia. Under the agreement, Chevron Lummus Global will provide pilot plant testing, licensing, basic design, and additional engineering and operations support. The feedstock will be supplied by […]
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Aramco awards $480 million contract for steel pipes supply
Saudi-headquartered East Pipes Integrated Co has landed a contract worth over $480 million from Saudi Aramco to manufacture and supply steel pipes for its key projects in the kingdom. The entire contract work will be completed within a 12-month period, East Pipes said in its filing to the Saudi bourse Tadawul. Founded in 2010 in […]
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L&T secures major contracts in Saudi Arabia
Indian EPC giant Larsen & Toubro (L&T) has recently secured EPC orders in Saudi Arabia, the company announced in a press release today. L&T’s power transmission and distribution (PT&D) Business has secured two orders to establish 380kV overhead power transmission lines connecting prominent cities situated on the Red Sea coast. These systems will strengthen projects […]
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Aramco announces changes in top leadership roles
Aramco has appointed Nasir K. Al-Naimi as president of its Upstream business, and Mohammed Y. Al Qahtani as president of its Downstream business, Aramco announced in a press release today. Both presidents will report along with Aramco’s executive vice presidents to the Company’s President & CEO Amin Nasser. The newly-created positions and appointments, approved by the […]
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Saudi Arabia arrests over 11,500 for residency and labour breaches
Saudi Arabia has arrested more than 11,500 people in the past week as it looks to stop residency, labour and security breaches. The announcement was made by the Ministry of Interior in a social media post identifying 11,549 arrests between May 4 and May 10. The Ministry said the arrests were made by multiple security agencies in the Kingdom […]
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NEOM awards $1.5 billion contract to connect cities for gigaproject
NEOM has awarded contracts worth $1.5 billion to Italian company Webuild and its joint-venture partner Shibh Al Jazira Contracting Co (SAJCO) to design and build 57 kilometers of a high-speed railway in NEOM, along the north Red Sea coast of Saudi Arabia. The contract covers the design and build for a railway connecting THE LINE, […]
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Canrig opens expanded manufacturing facility in Saudi Arabia
Global supplier of rig technology Canrig has opened its newly expanded manufacturing and repair facility in the Kingdom of Saudi Arabia. On Thursday, May 11, Canrig hosted executives and customers onsite to participate in interactive demonstrations of the Automated Power Catwalk and to hear how Canrig can elevate drilling operations while providing regional value and […]
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