Saudi oil giant Aramco reported a first-quarter net profit of $31.88 billion, plummeting by 19% compared to the same period last year. Aramco said the drop was mainly driven by lower crude prices, although partially offset by lower taxes and Zakat and a rise in finance and other income. Commenting on the results, Aramco President and CEO […]
Saudi Arabia
Posted inNews
US eyes major railway project to link UAE, Saudi Arabia and India
US National Security Advisor Jake Sullivan recently met with heads of UAE, Saudi Arabia and India in Riyadh, lending credence to a report that the three Asian countries are getting together to create a major railway network, Arabian Business reported. American news website Axios, on Friday reported that the US is discussing plans for the railway network, […]
Posted inNews
Saudi’s $500 billion futuristic city NEOM unveils stunning photos
NEOM has partnered with Getty Images and Unsplash, the world’s largest providers of visual content, to create and distribute an extensive visual library showcasing its diverse and natural environment and giving the world a sneak peek into what they will discover in the years to come. Last year, NEOM launched its subsidiary company ENOWA, aimed at […]
Posted inNews
Top 5 oil and gas contracts in the Middle East: April 2023
In case you missed the announcements, here is a list of the top five contracts secured for oil and gas projects in the region
Posted inNews
Saudi Arabia announces major change to work and visit visas
Saudi Arabia has announced changes to the way it issues visas for workers and visitors to the Kingdom. The Ministry of Foreign Affairs has launched a new initiative, cancelling the visa sticker on passports and switching to an e-visa with QR code.  The new procedure is part of the digitalisation of the ministry’s consular services, including work permits, […]
Posted inNews
An inside look at Saudi Arabia’s push to produce cleaner oil
At the heart of an oil-rich kingdom pumping millions of crude oil per day is an ambitious vision to slash emissions and transition towards clean energy. Interestingly, the kingdom is injecting money in both. Saudi Arabia is transitioning to bridging solutions and shifting towards cleaner gas-burning instead of oil for its energy production, using gas […]
Posted inNews
Saudi energy ministry to impose severe penalties for obtaining illegal electricity
Saudi Arabia’s Energy Ministry has warned against the illegal use of petroleum products and getting electricity illegally, Saudi Gazette reported. The Ministry has also clarified the penalties that would be imposed over the violators if they violated the Kingdom’s Law of Trade in Petroleum Products. The punishments include a financial penalty that reaches to up […]
Posted inNews
Middle East’s largest oil and gas discoveries: Everything you need to know
Contrary to popular belief, the first oil well in the Middle East was not discovered in Saudi Arabia. That came later. Oil was first discovered in Persia, now known as Iran, thanks to William Knox D’Arcy, a British national, who had got a 60-year concession from the Iranian government. D’Arcy funded the operation, which started in 1903, […]
Posted inNews
Saudi Arabia’s Rabigh solar project begins operations
The photovoltaic power station project in Rabigh, Saudi Arabia has been successfully connected to the grid and officially entered the operation stage. This project is a critical part of the ‘Vision 2030’ formulated by the Saudi government, which includes vigorously developing new energy sources and promoting energy strategic transformation. After the project is connected to […]
Posted inNews
‘Another milestone’: Saudi Arabia ships low-carbon ammonia to Japan
A first shipment of independently-certified low-carbon ammonia has arrived in Japan for use as fuel in power generation. This initiative is part of broader efforts by Aramco and Saudi Basic Industries Corp. Agri-Nutrients to establish a global supply network for this lower-carbon fuel. Olivier Thorel, Aramco SVP of Chemicals, said: “This is another milestone that highlights the […]
Load more