Author: Steven Sahiounie

The Gulf of Mexico has been a hub for US oil production for decades. A government auction Tuesday could help make it a nexus for offshore wind, too. More than a dozen companies have qualified to bid for wind development rights during the first-ever sale of tracts off the Texas and Louisiana coast. The sites have the potential to generate 3.7 gigawatts of emission-free electricity that could be used to produce green hydrogen and provide power to Gulf Coast refineries, ports and shipyards. “All of a sudden, you could see the greening of what has been a rather carbon-intensive industrial base,” said…

Hundreds of Greek firefighters were battling a huge blaze on Monday which has killed at least 20 people over the past ten days, Europe’s deadliest wildfire so far this summer as record-setting heatwaves unleash blazes across the continent. The fire which began near the city of Alexandroupolis has raged uncontrolled in northeastern Greece’s Evros region, turbocharged by near-gale force winds and high temperatures. All but one of the victims killed so far were irregular migrants hiding in the forest, Reuters reported. “It is the definition of what we call a megafire,” Government spokesman Pavlos Marinakis told a regular briefing. The…

RIYADH: ADES Holding Co., backed by Saudi Arabia’s Public Investment Fund, has announced its plan to proceed with an initial public offering on the primary market of the Kingdom’s stock exchange, the company said in a statement.   In the statement, the oil and gas drilling firm noted that the public share sale would comprise 338.71 million ordinary shares, resulting in a free float of 30 percent after the sale of a mix of existing and newly issued shares.   ADES Holding will also issue 33.87 million new shares to be allocated to the firm’s employees and its subsidiaries, which…

Transport Ministry said Monday that the scheduled flights have been diverted from Aleppo Airport (back and forth) to Damascus and Lattakia airports due to the Israeli aggression. Earlier, a military source said that the Israeli enemy has launched an aerial act of aggression on Aleppo airport, damaging its runway and taking it out of service. Source: SANA

RIYADH: Saudi Arabia has stepped up measures to increase the scope of halal foods following the partnership of Saudi Standards, Metrology and Quality Organization, also known as SASO, with several entities, the agency said. “More than 60 accredited entities from around the world work with us in the halal sector,” Nawaf Al-Shahri, head of the conformity assessment body acceptance department at SASO, told Arab News. This information was revealed on the sidelines of the Thai Trade Exhibition Riyadh 2023, a four-day event that began on Aug. 27 at the Riyadh International Convention & Exhibition Center. Al-Shahri further elaborated that SASO’s…

Raimondo’s visit is the latest in a series of high-level trips by US officials to China in recent months US President Joe Biden said recently that he was expecting to meet China’s Xi Jinping this year BEIJING: US Commerce Secretary Gina Raimondo is set to hold meetings with Chinese counterparts Monday on a trip to Beijing aimed at cooling trade tensions between the world’s two largest economies.Her visit — which will last until Wednesday — is the latest in a series of high-level trips by US officials to China in recent months.The visits could culminate in a meeting between the…

RIYADH: Trade ties between Islamic Corp. for the Insurance of Investment and Export Credit and Saudi Pak Industrial and Agricultural Investment Co., or Saudi Pak, will soon be enhanced thanks to a new agreement. This association comes as Saudi Arabia’s ICIEC, a member of the Islamic Development Bank, has signed a memorandum of understanding with Saudi Pak, including broad areas of potential collaboration, reported the state-run news agency. The MoU cements the Kingdom’s commitment to enhance food security and expand the scope of intervention and direct support toward investments that fuel the creation of a climate-resilient renewable energy infrastructure in…

RIYADH: Saudi Arabia’s master plan to develop logistics centers in the Kingdom will help improve transport services and contribute to infrastructure development, according to Minister of Transport and Logistics Services Saleh Al-Jasser. On Aug. 27, Saudi Arabia’s Crown Prince Mohammed bin Salman launched the master plan that details a comprehensive arrangement that seeks to develop 59 logistics centers, encompassing a total area exceeding 100 million sq. meters. Al-Jasser noted that the new master plan will also strengthen Saudi Arabia’s connection with global markets, as the Kingdom is strategically placed in the middle of three continents, the Saudi Press Agency reported. …

India’s Ministry of Commerce and Industry revealed in its June data that it received a batch of uranium ore worth $ 13.5 million from Russia, for the first time since 2019. According to Indian data The volume of uranium ore purchased by New Delhi reached 118 tons, with Moscow last supplying uranium ore to India in 2019 by exporting 1.77 thousand tons of uranium worth $101.6 million. Source: Sputnik

Data and indicators of the Indian Ministry of Commerce and Industry revealed on Monday that the volume of trade exchange between Russia and India in the first half of 2023 grew by about 2.9 times to reach 33 billion US dollars. India’s imports of Russian goods tripled to $31.5 billion, with oil and petroleum products being the main item for purchases, with a 4.4-fold increase in the first half of this year, to about $25.2 billion, according to India’s Ministry of Commerce and Industry. Source: Sputnik