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OIL AND GAS

Saudi Shoura members discuss measures to reduce energy consumption
September 27, 2020

he Saudi Shoura Council’s Economic and Energy Committee reviewed the annual report of the Saudi Energy Efficiency Center on Saturday. The meeting was held with Dr. Faisal Al-Fadel in the chair. It was also attended by Nasser Al-Ghamdi, the center’s president.
The committee discussed ways to localize technologies to raise energy efficiency in the Kingdom. The meeting also reviewed the challenges facing the Saudi Energy Efficiency Center and discussed"...

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KAPSARC discusses changes in residential electricity consumption within the last four years
September 23, 2020

RIYADH — A recent commentary, issued by the King Abdullah Petroleum Studies and Research Center (KAPSARC), discussed the changes in residential electricity consumption during the last four years, in addition to the impacts of energy prices reforms and energy efficiency programs on eliminating electricity consumption in the Kingdom

The commentary, published by KAPSARC’s researchers Mohammad Aldubyan and Anwar Gasim in the Energy Demand and"...

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Ziyad Al-Shiha, board member of the National Petrochemical Company
September 21, 2020

Ziyad Al-Shiha has been a board member of the National Petrochemical Company, a Saudi joint-stock company, since 2019. He is also the deputy chair of the Business 20 (B20) Trade and Investment Taskforce.
Formerly, Al-Shiha worked as the president and CEO of the Saudi Electricity Co. (SEC) from 2014 to 2018. Prior to that, he was a board member of the SEC from 2012 to 2103.
Al-Shiha received a bachelor’s degree in electrical engineering from King"...

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Saudi Arabian petrochemical companies start 35.6bn riyal merger talks
September 21, 2020

Saudi Industrial Investment Group (SIIG) and National Petrochemical Company (Petrochem) started merger talks, which may create a new entity with 35.6 billion riyals in assets .

The SIIG board gave the nod to begin discussions about a potential transaction at its meeting on September 17, the company said in a statement to the Tadawul stock exchange, where its shares trade. SIIG already controls"...

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GPCA adopts new initiative for members in Arabian Gulf
September 20, 2020

DUBAI — The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, has adopted a new initiative for members on the occasion of World Cleanup Day 2020, aimed at improving sustainability and best environmental practices at plastic manufacturing and logistics operations in the GCC.

Practiced in over 60 countries and thousands of plants around the world, Operation Clean Sweep (OCS) arrives in the"...

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KAPSARC develops 3 models for Saudi energy system
September 15, 2020

RIYADH: The King Abdullah Petroleum Studies and Research Center (KAPSARC) has developed three models and tools for the economy and energy system in Saudi Arabia, in an effort to boost and diversify Saudi Arabia’s economic and energy prosperity and achieve its Vision 2030 goals.

The center’s researchers have designed the Vision 2030 dynamic input-output tool, the KAPSARC energy"...

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Saudi Electricity Company raises $1.3bn from green sukuk sale
September 14, 2020

Saudi Electricity Company raised $1.3 billion (Dh4.7bn) from the sale of a dual-tranche green sukuk, it said in a statement on Sunday.

The state-owned electric transmission company sold five-year and 10-year dollar-denominated green sukuk, or Islamic bonds, to finance various green capital projects such as smart meters.

The"...

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Saudi Arabia keeps pushing OPEC+ to increase oil output
September 13, 2020

Saudi Arabia has been encouraing members of the Organisation of the Petroleum Exporting Countries (OPEC) and other producers such as Russia, known as OPEC+, to incerase output in the face of the coronavirus pandemic, the Financial Times reports on Wednesday.

According to report, Saudi Arabia plans to keep oil production steady despite a recent slump in prices, fearing any bigger output"...

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Sinopec holds first virtual open day event in Saudi Arabia
September 13, 2020

China Petroleum & Chemical Corporation (Sinopec) held its first virtual, as well as debut international Open Day in Saudi Arabia. A leading energy and chemical company in China, Sinopec said the 'Better Energy, Better Life' event explored its comprehensive, multi-faceted approach to sustainability. This online Sinopec Open Day event highlighted the Chinese firm's milestones since its entry into Saudi Arabia in 2000 and provided updates while inviting questions from the global audience. For over two decades, Sinopec has consistently provided high-quality engineering, technology, and refining services for the Saudi petroleum and petrochemical industry, as well as supplied petroleum and petrochemical equipment, products, and services. Sinopec, along with local partners, launched......

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Acwa Power sells stake in Bulgarian solar plant
September 12, 2020

Acwa Power divested its 100 per cent stake in a Bulgarian solar photovoltaic plant to an Austrian utility developer for an undisclosed amount.

The Saudi Arabian developer’s subsidiary, ACF Renewable Energy, sold its stake in Bulgaria's Power CF Karad PV Park to Enery Development.

The power company operates"...

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