Trump: US ‘locked and loaded’ to respond to attacks on Saudi oil facilities

Trump said US forces are ready to strike perpetrators of attacks on Saudi oil facilities. (AFP)
Updated 17 September 2019

Trump: US ‘locked and loaded’ to respond to attacks on Saudi oil facilities

RIYADH: US President Donald Trump on Monday said American forces are ready to strike back at whoever were behind the recent attacks on Saudi Arabia's oil refinery and oil field.

"There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!", he said in a tweet.

Trump also said he had also authorized the use of the U.S. emergency oil stockpile to ensure stable supplies after the attack, which shut 5% of world production.

“Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied,” he tweeted, “I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.”

Oil prices surged more than 15% at the open on Sunday on worries over global supply and soaring tensions in the Middle East.

On Sunday, a senior U.S. official told reporters that evidence from the attack, which hit the world's biggest oil-processing facility, indicated Iran was behind it, instead of the Yemeni Houthi group that had claimed responsibility.

— with Reuters

 


Saudi investment chiefs host students from one of world’s top business schools

Updated 26 January 2020

Saudi investment chiefs host students from one of world’s top business schools

  • The Saudi Public Investment Fund (PIF) hosted business major students from Harvard Business School (HBS) for a conference held at the capital’s King Abdullah Financial District

Riyadh: Saudi mega projects and regional and global investment opportunities were outlined to students from one of the world’s top business schools at a seminar in Riyadh.

The Saudi Public Investment Fund (PIF) hosted business major students from Harvard Business School (HBS) for a conference held at the capital’s King Abdullah Financial District.

As well as being introduced to the PIF, the visitors were briefed about ongoing mega projects, along with potential future investment plans both locally and throughout the world.

During their Saudi trip, some of the students took the chance to see for themselves evidence of the reforms taking place in the Kingdom by visiting Riyadh, Jeddah, and AlUla and exploring the Red Sea coast by car.

The PIF hosted the students as part of its aim of providing exposure to the broadest possible portfolio of businesses and careers while striving to be an employer of choice for top talents domestically and globally.

The fund continues to focus its commitment and dedication in providing a learning culture that promotes partnerships and training with world-class learning institutions, by actively incentivizing professional development and certifications.

HBS is an example of PIF efforts to build relationships with highly recognized learning organizations, and links in with its prestigious graduate development program to attract and develop top Saudi talent.

The study/work development program is delivered in partnership with some of the world’s top educational institutions, offering only 80 seats per application cycle. In 2019, only a fraction of the 12,000 applicants were accepted, and the PIF has attracted several Saudi HBS graduates as part of its human capital.

It is hoped that the visit to Saudi Arabia will encourage some of the HBS students to carry out their own research on the Kingdom to benefit sectors and resources such as the geology of Saudi deserts, Red Sea oceanography, and the sociology of its citizens.

By getting a close-up insight into the Kingdom it is also envisaged that students will return to the country as tourists, investors or for employment.