Aramco CEO in call for ‘ultra clean energy’

Aramco CEO in call for ‘ultra clean energy’
“We must continuously remind all our stakeholders that we are a global industry at the cutting edge of science, technology, engineering and logistics, supported by a complex global supply chain,” Nasser said. (AFP)
Updated 11 September 2019

Aramco CEO in call for ‘ultra clean energy’

Aramco CEO in call for ‘ultra clean energy’
  • Oil giant chief takes aim at climate change deniers during global oil industry gathering in Abu Dhabi

ABU DHABI: There is no limit to the oil industry’s potential if it can meet society’s demand for “ultra clean” energy, Amin Nasser, the president and chief executive of Saudi Aramco, told delegates at the World Energy Congress in Abu Dhabi.

“The world faces an incredible climate challenge and we need a bold response to match. In my view, that means the entire industry must come together around a new mission beyond our gates of making oil and gas much cleaner across the full spectrum of end-use applications,” Nasser said.

His comments were seen against the background of Aramco’s long term strategy to be regarded not just as a pumper of crude oil, but as a diversified high technology energy group with a strong sense of corporate social responsibility. Nasser spoke recently of a “crisis of perception” in the oil industry.

“We must continuously remind all our stakeholders that we are a global industry at the cutting edge of science, technology, engineering and logistics, supported by a complex global supply chain,” Nasser said.

In an apparent swipe at climate-change deniers, he hit out at those who do not recognize the need for alternatives to hydrocarbon fuels to meet rising global energy demand. 

“Many governments are adopting policies that do not appear to consider all the complex aspects of global technology, the long term nature of our business, and the need for orderly transitions — policies that seem to assume there are quick and easy answers to the many challenges that alternatives face,” he said.

Nasser added that throughout Aramco’s history, it had a competitive edge in four key areas: Resource abundance, safe production, reliable supply and affordability. “But meeting society’s expectations requires a fifth. Quite simply, our products need to be much cleaner,” he said.

He added that the world was “at a turning point” in the search for cleaner forms of energy. “The good news is that we are not starting from scratch,” he said, highlighting Aramco’s halt to gas flaring, its low upstream carbon intensity, and low methane levels by industry standards.

He also underlined Aramco’s commitment to a range of technologies with transformative potential for the whole global oil industry, like advanced integrated engine fuel systems and carbon capture techniques.

“This is the latest turning point in our history, and we must, once again, lead the turn,” Nasser said.

 


Saudi Arabia to raise $800m from privatization of two flour mills.

Saudi Arabia to raise $800m from privatization of two flour mills.
Updated 16 min 25 sec ago

Saudi Arabia to raise $800m from privatization of two flour mills.

Saudi Arabia to raise $800m from privatization of two flour mills.
  • The National Center for Privatization & PPP (NCP) said it completed the sale of the two mills (MC2 and MC4) to private sector investors

DUBAI: Saudi Arabia is set to generate about SR3 billion ($800 million) in proceeds from the privatization of two flour mills.
The National Center for Privatization & PPP (NCP) said it completed the sale of the two mills (MC2 and MC4) to private sector investors.
A consortium that includes Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment, Al Rajhi International for Investment, National Agricultural Development and OLAM International acquires the second milling company (MC2) for about SR2.14 billion, according to a stock exchange filing on Wednesday.
Meanwhile a consortium that includes Abdullah Al-Othaim Markets Company, Allana International Company and United Feed Manufacturing Company secured the fourth milling company for SR859 million.
Saudi Arabia is accelerating plans to privatize key infrastructure in an effort to modernize the economy, speed major infrastructure works and develop its financial services sector.


AirTag or purple iPhone? Where and when can I buy Apple’s latest launches?

AirTag or purple iPhone? Where and when can I buy Apple’s latest launches?
Updated 20 min 6 sec ago

AirTag or purple iPhone? Where and when can I buy Apple’s latest launches?

AirTag or purple iPhone? Where and when can I buy Apple’s latest launches?
  • Good news for Apple fans in the Gulf – all the new products will be available in the region as early as the end of April

DUBAI: Apple just held its first keynote event of the year – announcing new products such as a button-like accessory to help people keep track of their belongings, as well as updates for existing models including a purple iPhone 12.
Good news for Apple fans in the Gulf – all the new products will be available in the region as early as the end of April.
Here are the new products launched during the Apple event in its Cupertino headquarters, and their prices and availability status in the UAE:

AirTag
Price: Starting 129 dirhams
Availability: Pre-order starts on April 23; product is available on April 30


24-inch iMac (available in seven different colors)
Price: Starting 5,499 dirhams
Availability: Pre-order starts on April 30; product is available in the second half of May

Apple TV 4K
Price: Starting 729 dirhams
Availability: Pre-order starts on April 30; product is available in the second half of May

iPad Pro with M1 chip
Price: Starting 3,199 dirhams
Availability: Pre-order starts on April 30; product is available in the second half of May

Other announcements:
The new purple iPhone 12 has no other updates other than the color – it will be the same price as the other iPhone 12 models.
The new iOS 14.5 will be launched next week. It comes with the biggest privacy changes Apple will introduce so far, according to a statement.


More jobs advertised for Saudis by Royal Commission for Jubail and Yanbu

More jobs advertised for Saudis by Royal Commission for Jubail and Yanbu
Updated 40 min 40 sec ago

More jobs advertised for Saudis by Royal Commission for Jubail and Yanbu

More jobs advertised for Saudis by Royal Commission for Jubail and Yanbu
  • The Kingdom has stepped up efforts to secure more jobs for its citizens in line with similar localization efforts underway elsewhere in the region

RIYADH: The Royal Commission for Jubail and Yanbu (RCJY) has advertised 96 jobs for Saudis on its website, in Riyadh, Jazan, Jubail and Yanbu.
They cover administrative, engineering and health roles.
Among the advertised positions are a financial planning specialist, director of transportation and equipment department, director of buildings department, and director of public facilities department.
The Kingdom has stepped up efforts to secure more jobs for its citizens in line with similar localization efforts underway elsewhere in the region.
The Royal Commission for Jubail and Yanbu (RCJY) was established by royal order in 1975 to kickstart the Kingdom’s petrochemicals industry.


WH Smith to open at King Abdulaziz International Airport in Jeddah

WH Smith to open at King Abdulaziz International Airport in Jeddah
Updated 21 April 2021

WH Smith to open at King Abdulaziz International Airport in Jeddah

WH Smith to open at King Abdulaziz International Airport in Jeddah
  • Airport retail may rebound on travel resumption
  • Pandemic culls names across retail sector

DUBAI: British retailer WH Smith is coming to King Abdulaziz International Airport in Jeddah.
Tihama Advertising, Public Relations and Marketing Company has agreed a deal with the General Authority of Civil Aviation to lease two units at the airport, it said in a Saudi stock exchange filing.
Tihama Education, a unit of the Tadawul-listed company, will operate two outlets under the WH Smith brand franchise, covering arrivals and departures.
Tihama has an existing partnership with WH Smith at Riyadh Airport and in the UAE.
WH smith did not respond to a request for comment.
Founded in 1792, WH Smith is one of the oldest names on the British high street and has also become one of the world’s leading travel retailers operating over 1,100 stores in 31 countries.
Retailers have suffered from the impact of more than a year of intermittent lockdowns worldwide but the transport-focused end of the retail business may stand to benefit from a resumption of international air travel.
Analysts at RBC upgraded WH Smith to ‘outperform’ from ‘sector perform’ last week and lifted their price target on the stock to 2,200p from 2,100p.


Surge in demand for companies looking to set up in KSA

Surge in demand for companies looking to set up in KSA
Updated 21 April 2021

Surge in demand for companies looking to set up in KSA

Surge in demand for companies looking to set up in KSA
  • Consultants have seen a 50 percent rise in activity in the first quarter of 2021

RIYADH: Sovereign AEI, a firm which specializes in helping companies set up operations in the Kingdom, has seen a spike in business activity.

“The beginning of this year has been very encouraging as we have seen a 40 to 50 percent increase in Saudi Arabia market-entry activity, when compared to pre-pandemic levels,” Stuart D’Souza, co-founder and CEO of Arabian Enterprise Incubators (AEI), one of the partner firms that makes up Sovereign AEI, told Arab News.

As part of the ambitious Riyadh Strategy 2030 announced by Crown Prince Mohammed bin Salman earlier this year, the government wants to attract up to 500 international companies to set up their regional bases in the city, create around 35,000 new jobs for Saudi locals, and double the capital’s population.

The strategy aims to invest up to SR70 billion ($18.67 billion) into the national economy by the end of the decade. The strategy is already paying dividends.

“Sovereign AEI is helping to facilitate this new strategy. Our products and services are conducive with Riyadh Strategy 2030 by helping new and existing businesses capitalize on the expected significant growth forecast for the Kingdom,” Paul Arnold, managing director of Sovereign Saudi Arabia, told Arab News.

BACKGROUND

• The government wants to attract up to 500 international companies to set up their regional bases in the city, create around 35,000 new jobs for Saudi locals, and double the capital’s population.

• The strategy aims to invest up to SR70 billion ($18.67 billion) into the national economy by the end of the decade. The strategy is already paying dividends.

“We are also encouraging businesses to look ahead and establish a physical presence in the Kingdom, while taking into consideration new criteria set to come into force by 2024, the specifics of which are yet to be formally announced,” he added.

Sovereign has been operating in Saudi Arabia for about 20 years and AEI since 2012. They formed their joint partnership in 2019.

In 2019, the company helped 600 businesses visit Saudi Arabia to investigate potential opportunities. Half were first-time visitors and over 70 percent went on to establish new business links in the Kingdom. AEI alone has helped over 1,500 foreign businesses to enter, establish or expand in Saudi Arabia since 2012.

Last year, despite the restrictions as a result of the pandemic, Sovereign AEI reported a 300 percent increase in corporate services in Saudi Arabia. The team is expecting this positive growth to continue in 2021.

“The Saudi market presents tremendous opportunities. Most companies are now aware of the potential of the market, the main pillars of Vision 2030 and the significant number of economic reforms carried out over the past 18 months. However, plotting a road map to success can be a challenge,” Arnold said.

“Our principles are to educate, de-risk and enable the client’s ability to enter, establish or expand in the Kingdom. Our robust performance in the first quarter is a testament to the attractive nature of the Saudi market and we continue to see a growing interest and increasing shift of client focus toward the Kingdom, as the country continues to unveil new strategic initiatives,” he added.