Changi loses deal to manage and operate new Jeddah airport

Updated 21 February 2018
0

Changi loses deal to manage and operate new Jeddah airport

LONDON: Saudi Arabia’s General Authority of Civil Aviation GACA) has terminated an agreement to allow a consortium consisting of Singapore’s Changi Airports International and Saudi Naval Support Company to manage and operate the new King Abdul Aziz International Airport in Jeddah, just 10 months after it was told it had won a competitive bidding tender.
GACA said in a statement: “Following an internal review, GACA has decided to undertake a new international tendering process for the contract to manage the airport in Jeddah. This review raised a number of fundamental concerns that has required GACA to revisit and terminate the award of the concession to the consortium comprising of Changi Airports International and Saudi Naval Services.
“All actions undertaken by GACA are in accordance with the terms of the executed concession agreement. The new tendering process will meet best practice standards of transparency and fairness.”
GACA said it would communicate further information on the new tendering process in due course. It added that the decision would not impact the projected timeline for the new airport, which is scheduled for “a soft opening” in May 2018.
A consortium statement said it noted that GACA had chosen “to terminate the agreement for the operation and management of the new airport.”
It also said: “The consortium strictly observed the request for (the) proposal process, stipulated by GACA. It submitted all required documentation for GACA’s review and had obtained all requisite approvals prior to the award of the concession.”
On May 2, 2017, Singapore-based Changi Airports International said in a statement that it had won the license to run the airport for a 20-year term.


US energy secretary meets Saudi counterpart after OPEC cuts

Updated 10 December 2018
0

US energy secretary meets Saudi counterpart after OPEC cuts

RIYADH: Saudi Arabia’s energy minister held talks Monday with US Energy Secretary Rick Perry, after the Kingdom and its allies defied US pressure to cut oil production in a bid to prop up prices.
They discussed the “state of the oil market” and energy cooperation between the two countries during a meeting in eastern Dhahran city, the minister, Khalid Al-Falih, said on Twitter.
Perry tweeted that he discussed the need for “open, free, and fair markets with the Saudis.”
OPEC members and 10 other oil producing nations, including Russia, on Friday agreed to cut output by 1.2 million barrels a day from January in a bid to reverse recent falls in prices.
The decision came even as US President Donald Trump demanded that the cartel boost output in order to push prices down.
But Al-Falih shrugged off the pressure last week, saying “we don’t need permission from anyone to cut” production.
The US “is not in a position to tell us what to do,” he told reporters ahead of Friday’s OPEC meeting in Vienna.
Last week, for the first time in decades, the United States — which is not a member of OPEC — was a net exporter of crude oil and petroleum products.
It was the latest sign of how the shale boom has lifted the US standing on global petroleum markets, prompting talk of “energy dominance” by Trump.
Perry’s visit to Dhahran came as Crown Prince Mohammed bin Salman unveiled state oil giant Aramco’s plan for a new energy megaproject in the area known as the King Salman Energy Park (SPARK).
The energy park is expected to attract an initial investment of $1.6 billion, Aramco said.