Author: Steven Sahiounie

RIYADH: Saudi Arabia’s Jafurah plant will be powered by the Kingdom’s first locally manufactured H-Class gas turbine from GE Vernova, advancing the Kingdom’s energy sector. 

RIYADH: Saudi energy giant ACWA Power Co. has signed financing deals worth SR1.4 billion ($373.1 million) for Tashkent’s Riverside power plant in Uzbekistan, according to a statement on Tadawul.

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 20.97 points, or 0.18 percent, to close at 11,658.53.

SINGAPORE: Oil prices climbed on Monday, supported by forecasts of a supply deficit stemming from peak summer fuel consumption and OPEC+ cuts in the third quarter, although global economic headwinds and rising non-OPEC+ output capped gains, according to Reuters.

RIYADH: Saudi real estate projects will take center-stage at a two-day summit in Spain featuring over 100 companies, showcasing major developments and new business opportunities in the Kingdom.     

RIYADH: The global market for carbon removal credits could reach $100 billion annually between 2030 and 2035, up from just $2.7 billion last year

Saudi Aramco has discovered “two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs”: energy minister

RIYADH: Saudi Arabia’s sovereign wealth fund has reported strong financial results for 2023, achieving revenues of SR331 billion ($88.3 billion) from its diverse investment portfolio, marking over 100% percent growth from 2022.

RIYADH: Loans by Saudi Arabia’s banking sector increased to SR2.72 trillion ($726.44 billion) in May, marking an annual 11.14 percent rise, official data showed. 

EU companies are signing investment deals potentially worth more than 40 billion euros ($42.85 billion) with Egypt, European Commission President Ursula von der Leyen told an investment conference that opened on Saturday.