Saudi Arabia and Russia reaffirm their commitment to cut oil output as agreed in OPEC+ deal

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Updated 16 April 2020

Saudi Arabia and Russia reaffirm their commitment to cut oil output as agreed in OPEC+ deal

RIYADH: Saudi Arabia's energy minister Prince Abdulaziz bin Salman and his Russian opposite number Alexander Novak issued a joint statement on Thursday and said they were ready to take measures with other OPEC+ members on the oil market if necessary.

They also said both Russia and Saudi Arabia were committed to the global oil cuts deal.

OPEC and other large oil producers, a group widely know as OPEC+, have agreed to reduce their combined oil production by 9.7 million barrels per day in May and June.


Saudi Arabia’s AlUla commission signs resort agreement with Accor

Updated 33 min 41 sec ago

Saudi Arabia’s AlUla commission signs resort agreement with Accor

  • A total of 47 new villas will be added to the 35 existing villas in the resort, bringing the total number to 82 high-end villas
  • The agreement is part of the commission’s strategy to develop AlUla as an attractive tourist destination

LONDON: The Royal Commission for AlUla is partnering with Europe’s biggest hotel group Accor to expand and operate a resort in the northwest of the Kingdom.
The commission’s hotel and tourism sector will extend the Ashar Resort which will be managed by Accor under the Banyan Tree brand.

 


A total of 47 new villas will be added to the 35 existing villas in the resort, bringing the total number to 82 high-end villas.
The agreement, announced on Sunday, is part of the commission’s strategy to develop AlUla as an attractive tourist destination and diversify the Kingdom’s economy as part of Vision 2030.
The project is located in the Ashar valley, 15 kilometers from the Kingdom's first UNESCO World Heritage Site, Hegra.
The CEO of the commission Amr Al-Madani said the partnership “highlights the importance of AlUla as a tourist destination that is able to attract global investment.”
Meanwhile, the Chairman and CEO of Accor Sebastien Bazin said “We are extremely proud to take part in the development of the historic county of AlUla thus celebrating the Kingdom’s vast heritage and culture.”