Saudi Arabia

The countries have signed a Memorandum of Understanding (MoU) to collaborate on developing new clean energy technologies

The US and Saudi Arabia have agreed to work together on technologies designed to reduce carbon dioxide from fossil fuel projects. They have signed a Memorandum of Understanding (MoU) to establish a framework for co-operation in the areas of clean fossil fuels and carbon management. That includes carbon capture, utilisation and storage (CCUS), supercritical carbon […]

Saudi Arabia has announced plans to build a $500 billion (£377.4bn) megacity, which will be powered entirely by renewable energy. Crown Prince Mohammed bin Salman has already named the city ‘NEOM’ and has suggested it will span 26,500 square kilometres, an area 33 times larger than New York. Situated at the country’s borders with Jordan […]

An energy solutions provider has been awarded $2.5 million (£1.9m) for desalination projects in Saudi Arabia. Energy Recovery’s technology uses pressure energy that would otherwise be wasted to slash power consumption and help increase the lifespan of pumps used to create clean water. This is performed with 98% efficiency and without using any electrical power. […]

The price of oil fell by nearly 5% after OPEC nations agreed to extend their current deal yesterday to limit production by nine months. According to analysts, Brent crude oil plunged $2.60 (£2) to $51.36 (£40) a barrel this morning. The 14 member states, led by Saudi Arabia, were joined by 11 other exporter nations, […]

OPEC is reportedly likely to agree to extend production cuts into the second half of 2017. Reports claim Saudi Arabia’s Energy Minister Khalid al-Falih hinted at behind-the-scenes negotiations among big oil producers ahead of next month’s meetings. He reportedly said consensus was growing for the output cuts that began in January be extended after their initial six-month […]

The Organisation of the Petroleum Exporting Countries (OPEC) has achieved 98.5% of its total production cuts, up from 91% in January. That’s according to a new survey from S&P Global Platts, which shows output in February fell to an average of 32.03 million barrels per day (b/d). As the OPEC members move closer to full compliance, Saudi Arabia continues to […]

Saudi Arabia is seeking applications for the first round of its national renewable energy programme. It is part of the nation’s $50 billion (£40bn) renewable energy push as it aims to move to greener sources of generation. Businesses can bid to build 700MW of wind and solar power plants, which includes a 300MW solar facility […]

Russia took the crown from Saudi Arabia as the biggest oil producer in the world in December. The nation pumped 10.49 million barrels a day (b/d), down 29,000 b/d from November. Saudi Arabia also saw a fall in output to 10.46 million b/d in December from 10.72 million the month before, according to new statistics […]

The 10 OPEC members obligated to cut oil production achieved 91% of their target in January. That’s according to a report from S&P Global Platts, which says output has fallen by 1.14 million barrels a day (b/d) since October, just under the reduction target of 1.2 million b/d set in a landmark agreement last year. The group […]