Saudi Crown Prince Mohammed bin Salman says he will continue ‘sportswashing’ to boost economy

Saudi Arabia has pumped money into sport in recent years, and faces accusations of doing so in order to enhance its controversial reputation.

Newcastle United’s Dan Burn in action with West Ham United’s Tomas Soucek

Crown Prince Mohammed bin Salman has said he “doesn’t care” if Saudi Arabia is accused of “sportswashing” – as long as it adds to the country’s GDP.

The country has set its Vision 2030 – a project to end its dependency on fossil fuels that has seen billions pumped into golf and football.

Prince Mohammed, also known as MBS, was asked during an interview with Fox News about sportswashing – which relates to enhancing the reputation of a controversial country or an organisation by using sport sponsorship or event hosting.

“If it’s sportswashing and it improves my GDP by 1%, then I will continue doing sportswashing,” he said.

When asked if he was “OK with that term”, MBS replied: “I don’t care – I have 1% GDP growth from sports and I’m aiming for another 1.5%. Call it whatever you want – we’re going to get that other 1.5%.”

Saudi Arabia has pumped money into sport in recent years.

Its LIV Golf series sparked a player revolt before its merger with the PGA, while the domestic Saudi Pro League has spent nearly £1bn over the summer on a string of high-profile football stars.

Premier League players such as ex-Liverpool captain Jordan Henderson and Manchester City midfielder Riyad Mahrez, as well as Brazilian star Neymar, have been lured to the peninsula with big-money moves.
Newcastle United was also bought by a consortium dominated by the Saudi Public Investment Fund.

The oil-rich nation has faced criticism for human rights violations and ongoing concern about the murder of the journalist Jamal Khashoggi after he entered the Saudi consulate in Istanbul.

Source: https://news.sky.com/story/saudi-crown-prince-mohammed-bin-salman-says-he-will-continue-sportswashing-to-boost-economy-12966311

Saudi crown prince says getting ‘closer’ to Israel normalization

“Every day we get closer,” said Saudi Arabian Crown Prince Mohammed bin Salman of his country’s relationship with Israel.

U.S. Secretary of State Antony Blinken (not pictured) meets with Saudi Crown Prince Mohammed bin Salman, in Jeddah, Saudi Arabia, June 7, 2023.
(photo credit: BANDAR ALGALOUD/COURTESY OF SAUDI ROYAL COURT/REUTERS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Saudi Arabian Crown Prince Mohammed bin Salman said in a US television interview that his country was moving steadily closer to normalizing relations with Israel and also warned that if Iran gets a nuclear weapon, “we have to get one.”

“Every day we get closer,” the crown prince told Fox News in wide-ranging remarks broadcast on Wednesday, when asked to characterize talks aimed at long-time foes Israel and Saudi Arabia reaching a landmark agreement to open diplomatic relations.

The conservative US network’s interview with the crown prince, widely known as MbS, comes as President Joe Biden’s administration presses ahead with an effort to broker historic ties between the two regional powerhouses, Washington’s top Middle East allies.

The normalization talks are the centerpiece of complex negotiations that also include discussions of US security guarantees and civilian nuclear help that Riyadh has sought, as well as possible Israeli concessions to the Palestinians.

“For us, the Palestinian issue is very important. We need to solve that part,” MbS, Saudi Arabia’s de facto ruler, said when asked what it would take to get a normalization agreement. “And we have a good negotiations strategy til now.”

Source : https://www.jpost.com/breaking-news/article-759897

India-Middle East-Europe economic corridor more significant than silk and spice routes: Saudi minister

Prime Minister Narendra Modi on September 9 announced the launch of the India-Middle East-Europe mega economic corridor during G20 summit. The project includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US

Saudi Crown Prince Mohammed bin Salman

India-Middle East- Europe economic corridor will be more significant than the silk and spice routes of the world, Saudi’s Investment Minister Khalid bin Abdulaziz Al-Falih has said.

“The economic corridor will be historical. People talk about the Silk route, the Spice route of India through the Arabian Peninsula, but this is going to be more significant and relevant. Because it’s going to be about new energy, data, connectivity, human resources, aviation routes and it’s about aligning countries that are of the same mind and same vision,” Al-Falih added. He was speaking on the sidelines of the Saudi-India Investment Forum to reporters in New Delhi.

“Both countries (Saudi Arabia and India) have great human capital and access to financial resources. The next step is to make sure that the private sector fully understands what we have right before them, in terms of opportunities… we need to clear the roadmap for them and I think great things will happen,” Al-Falih added.

The rail and shipping corridor is part of the Partnership for Global Infrastructure Investment (PGII) — a collaborative effort by G7 nations to fund infrastructure projects in developing nations. PGII is considered to be the bloc’s counter to China’s Belt and Road Initiative.

The project will aim to enable greater trade among the involved countries, including energy products.

The corridor will include a rail link as well as an electricity cable, a hydrogen pipeline and a high-speed data cable, according to a document prepared by European Commission President Ursula von der Leyen. The declaration document also called the project “a green and digital bridge across continents and civilizations.”

“Today we all have reached an important and historic partnership. In the coming times, it will be a major medium of economic integration between India, West Asia and Europe,” PM Modi said while announcing the project. The corridor will give a new direction to connectivity and sustainable development of the entire world, he added.

Source: https://www.moneycontrol.com/news/world/india-middle-east-europe-economic-corridor-more-significant-than-silk-and-spice-routes-saudi-minister-11349771.html

India, US And Saudi Arabia To Sign Major Rail, Port Deal At G20 Summit

As well as Saudi Arabia and India, key participants in the project will include the United Arab Emirates and the European Union.

This project “has enormous potential but exactly how long it takes, I don’t know,” US said

The United States, Saudi Arabia and others will sign a pact at the G20 to explore building a major railway and port project to connect the Middle East with India and Europe, US officials said Saturday.
Jon Finer, US Deputy National Security Advisor, said a memorandum of understanding would be inked to “explore a shipping and rail transportation (project) that will enable the flow of commerce, energy and data from here in India across the Middle East to Europe”.

As well as Saudi Arabia and India, key participants in the project will include the United Arab Emirates and the European Union, Finer told reporters in New Delhi.

The agreement comes with Washington actively engaging with the kingdom, encouraging it to normalise ties with Israel.

“This has been the result of months of careful diplomacy, quiet, careful diplomacy, bilaterally and in multilateral settings,” Finer added.

This project “has enormous potential but exactly how long it takes, I don’t know,” Finer added.

The agreement to discuss the project could be among the most tangible outcomes of the summit, with G20 leaders divided over Russia’s war in Ukraine and gridlocked on finding an agreement to slash carbon emissions.

Source: https://www.ndtv.com/india-news/india-us-and-saudi-arabia-to-sign-major-rail-port-deal-at-g20-summit-us-4373386

Saudi Arabia: Man Sentenced to Death for Tweets

Peaceful Criticism on Social Media Brings Death Penalty

(Beirut) – A Saudi court has sentenced a man to death based solely on his Twitter, and YouTube activity, Human Rights Watch said today. Saudi authorities should quash the verdict, which is an escalation of the Saudi government’s crackdown on freedom of expression and peaceful political dissent in the country.

On July 10, 2023, the Specialized Criminal Court, Saudi Arabia’s counterterrorism tribunal, convicted Muhammad al-Ghamdi, 54, a retired Saudi teacher, of several criminal offenses related solely to his peaceful expression online. The court sentenced him to death, using his tweets, retweets, and YouTube activity as the evidence against him.

Muhammad al-Ghamdi © Private

“Repression in Saudi Arabia has reached a terrifying new stage when a court can hand down the death penalty for nothing more than peaceful tweets,” said Joey Shea, Saudi Arabia researcher at Human Rights Watch. “Saudi authorities have escalated their campaign against all dissent to mind-boggling levels and should reject this travesty of justice.”

Saudi security forces arrested al-Ghamdi in front of his wife and children on June 11, 2022, outside his home in the al-Nawwariyyah neighborhood of Mecca, people with knowledge of the case told Human Rights Watch. They took him to al-Dhahban Prison, north of Jeddah, where he was held in solitary confinement for four months. His family was unable to contact him during this period and he did not have access to a lawyer. The authorities later transferred al-Ghamdi to the al-Ha’ir Prison in Riyadh.

Saudi interrogators questioned him about tweets and political opinions and asked his opinions about individuals imprisoned for exercising their right to free expression. Al-Ghamdi did not have a lawyer for nearly a year and once he finally did obtain legal representation, he was only able to speak with the lawyer immediately in advance of court sessions.

Al-Ghamdi’s brother, Saeed bin Nasser al-Ghamdi, is a well-known Saudi Islamic scholar and government critic living in exile in the United Kingdom. In a tweet on August 24, Saeed wrote that the “false ruling aims to spite me personally after failed attempts by the investigations to return me to the country.” Saudi authorities in recent years have increasingly retaliated against the family members of critics and dissidents abroad in an effort to coerce them to return to the country, Human Rights Watch said.

Court documents Human Rights Watch reviewed show that the Specialized Criminal Court sentenced al-Ghamdi to death on July 10 under article 30 of Saudi Arabia’s counterterrorism law for “describing the King or the Crown Prince in a way that undermines religion or justice,” article 34 for “supporting a terrorist ideology,” article 43 for “communication with a terrorist entity,” and article 44 for publishing false news “with the intention of executing a terrorist crime.” Al-Ghamdi’s trial judgment states that he used his accounts on the X, formally Twitter, platform and YouTube to commit his “crimes.”

The public prosecutor sought the maximum penalties for all charges against al-Ghamdi. The documents say that the court issued the sentence on the grounds that the crimes “targeted the status of the King and the Crown Prince,” and that the “magnitude of his actions is amplified by the fact they occurred through a global media platform, necessitating a strict punishment.”

The documents cite two X platform accounts as belonging to al-Ghamdi. Human Rights Watch found that the first account had two followers and the second had eight. Both accounts, which have fewer than 1,000 tweets combined, largely contained retweets of well-known critics of the Saudi government.

The charging document cites as evidence several tweets criticizing the Saudi royal family, and at least one calling for the release of Salman al-Awda, a prominent cleric facing a possible death sentence on various vague charges related to his political statements, associations, and positions, and of other prominent imprisoned Islamic scholars.

Al-Ghamdi does not consider himself a political or human rights activist, said those with knowledge of the case. He maintains that he is a private citizen who merely expressed some concerns about the Saudi government over the X platform, they said.

Al-Ghamdi suffers from a number of serious mental health issues, the sources said, and Saudi authorities have refused to provide him with some of his prescription medications, which are necessary to treat and manage his conditions. Al-Ghamdi’s mental and physical health have greatly deteriorated since his arrest, they said.

Al-Ghamdi’s death sentence is the latest and most severe in a series of cases in which Saudi authorities have targeted social media users for peaceful expression online. Over the past year, Saudi courts have convicted and imposed decades-long sentences on social media users who criticized the government.

In August 2022, a Saudi appeals court dramatically increased the prison sentence of a Saudi doctoral student, Salma al Shehab from 6 to 34 years, based solely on her activity on the X platform. The sentence was later reduced on appeal to 27 years. That same day, a court sentenced another woman, Nourah bin Saeed al-Qahtani, to 45 years in prison for “using the internet to tear the [country’s] social fabric.”

Source: https://www.hrw.org/news/2023/08/29/saudi-arabia-man-sentenced-death-tweets

Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year

Oil prices eased in Asian as concerns over slow demand from top crude importer China grew after bearish trade and inflation data, outweighing fears over tighter supply arising from output cuts by Saudi Arabia and Russia.
David Mcnew | Getty Images News | Getty Images

Saudi Arabia on Tuesday extended its 1 million barrel per day voluntary crude oil production cut until the end of the year, according to the state-owned Saudi Press Agency.

The reduction will put Saudi crude output near 9 million barrels per day over October, November and December and will be reviewed on a monthly basis.

Riyadh first applied the 1 million barrel per day reduction in July and has since extended it on a monthly basis. The cut adds to 1.66 million barrels per day of other voluntary crude output declines that some members of OPEC have put in place until the end of 2024.

Fellow heavyweight oil producer Russia — which leads the contingent that joins OPEC nations in the OPEC+ coalition — also pledged to voluntarily reduce exports by 500,000 barrels per day in August and by 300,000 barrels per day in September. Russian Deputy Prime Minister Alexander Novak on Tuesday said that it will extend its 300,000 barrels per day reduction of exports until the end of December 2023 and will likewise review the measure on a monthly basis, according to the Kremlin.

The cuts are described as voluntary because they are outside of OPEC+’s official policy, which commits every nonexempt member to a share of production quotas. OPEC Secretary-General Haitham al-Ghais has previously said that resorting to voluntary reductions outside of OPEC+ decisions does not suggest divisions in policy views among alliance members.

The ICE Brent futures contract with November delivery was up $1.07 per barrel to $90.07 per barrel at 2:13 p.m. London time, or 9:13 a.m. in New York, with WTI futures higher by $1.40 per barrel to $86.95 per barrel.

Saudi stakes
Saudi Arabia faces a difficult juggling act between implementing oil production cuts and the blow to its crude-reliant economy. Losses incurred by trimming production — and, indirectly, marketing volumes — could be partially offset by increases in Riyadh’s sale prices and in the global oil prices that underpin them.

After languishing below $75 per barrel for the better part of the first half of the year, global futures prices shot up by more than $10 per barrel over the summer, most recently boosted by security risks in OPEC member Gabon and the threat of disruption in the Gulf of Mexico, in the wake of Hurricane Idalia.

The Paris-based International Energy Agency expects increasing supply tightness in the second half of 2023 as demand recovers in China, the world’s largest crude importer.

Source: https://www.cnbc.com/2023/09/05/saudi-arabia-to-extend-voluntary-cut-of-1-million-barrels-per-day-until-the-end-of-the-year.html

Netanyahu prepared to quit in return for Israel-Saudi peace deal – report

The prime minister is committed to “making any deal with the Saudis possible, even at the price of toppling his own government,” HaModia reported.

Israeli Prime Minister Benjamin Netanyahu and Saudi Arabian Crown Prince Mohammed Bin Salman
(photo credit: MARC ISRAEL SELLEM/REUTERS)

Prime Minister Benjamin Netanyahu on Friday denied ultra-Orthodox reports he was preparing for the collapse of his government in return for a US-backed normalization deal with Saudi Arabia.

According to a report published in the Agudat Yisrael-affiliated haredi paper HaModia on Friday morning, Netanyahu had resigned to the fact that “his political career is nearing an end.”

Netanyahu, in accordance with White House officials, will receive the long-awaited Saudi normalization deal and plea bargain for his criminal trials for his resignation, with the understanding being that he “does not have the capacity to manage the country in Israel’s current political state,” as per the report.

Source: https://www.jpost.com/israel-news/politics-and-diplomacy/article-757170

Russia blasts Saudi Arabia talks on ending war in Ukraine after Moscow gets no invitation to attend

Senior officials from around 40 countries gathered Sunday in Jeddah for a two-day meeting that aims to agree on key principles about how to end the conflict that has raged for more than 17 months.

But without Russia’s participation and without taking into account Moscow’s interests, the meeting was pointless, a Russian Foreign Ministry statement said. (Photo: Reuters)

Russia’s Foreign Ministry on Monday chided efforts by international officials meeting in Saudi Arabia to find a peaceful settlement for the war in Ukraine, saying the talks don’t have “the slightest added value” because Moscow — unlike Kyiv — wasn’t invited.

Senior officials from around 40 countries gathered Sunday in Jeddah for a two-day meeting that aims to agree on key principles about how to end the conflict that has raged for more than 17 months.

But without Russia’s participation and without taking into account Moscow’s interests, the meeting was pointless, a Russian Foreign Ministry statement said. It repeated previous assurances that Russia is open to a diplomatic solution on its terms that ends the war and is ready to respond to serious proposals.

Source: https://indianexpress.com/article/world/russia-saudi-arabia-war-ukraine-moscow-no-invitation-8881114/

Saudi Arabia to host Ukrainian peace talks in August; India, Britain, US among top invitees

Saudi Arabia to host Ukraine-organized peace summit on 5-6 August, inviting major countries including India, UK, and US. Summit aims to find a way to start negotiations over Russia’s war on Ukraine.

People take part in a commemoration ceremony for Ukrainian prisoners of war who defended the Azovstal Iron and Steel Works in Mariupol and were killed in a prison in Olenivka, outside Donetsk, one year ago (REUTERS)

Saudi Arabia is set to host Ukrainian-organized peace summit on 5 and 6 August, according to several reports. Saudi Arabia has invited several major countries including India, Britain, United States among others.

A report by Wall Street Journal, confirms that Saudi Arabia is set to host talks in August about Ukraine. Saudi Arabia will invite up to 30 countries, including Indonesia, Egypt, Mexico, Chile and Zambia, to Jeddah.

Developing countries invited to the summit include India and Brazil, the WSJ report said.

The peace summit to be hosted by Saudi Arabia aims to find a way to start negotiations over Russia’s war on the country, an Associated Press report stated.

The summit will be held in the Red Sea port city of Jeddah.

Among the invitees, it is still unclear if everyone will attend the peace talk summit. However, countries that took part in a similar round of talks in Copenhagen in June are expected to do so again.

Britain, South Africa, Poland and the EU are among those who have confirmed attendance and the US national security adviser Jake Sullivan is expected to attend.

The meet, which excludes Russia is expected to bolster international backing for peace terms favoring Ukraine.

Planning for the event is being overseen by Kyiv and Russia is not invited, AP reported citing an official who is familiar with the developments.

News of the summit comes after US national security adviser Jake Sullivan visited the kingdom on Thursday.

Source: https://www.livemint.com/news/world/saudi-arabia-to-host-ukrainian-peace-talks-in-august-india-britain-us-among-top-invitees-11690706525538.html

Inside Saudi Arabia’s Global Push for Nuclear Power

For years, Saudi Arabia has pressed the United States to help it develop a nuclear energy program, as Saudi leaders look beyond oil to power their country.

But talks about a nuclear partnership have dragged on, largely because the Saudi government refuses to agree to conditions that are intended to prevent it from developing nuclear weapons or helping other nations do so, according to officials with knowledge of the discussions.

Frustrated Saudi officials are now exploring options to work with other countries, including China, Russia or a U.S. ally.

At the same time, they are renewing a push with the United States — their preferred partner — by offering to try to normalize relations with Israel in exchange for U.S. cooperation on building nuclear reactors and other guarantees.

New details of the Saudi efforts provide a window into the recent difficulties and distrust between Washington and Riyadh, and into the foreign policy that Crown Prince Mohammed bin Salman is pursuing: greater independence from the United States as he expands partnerships with other world powers, including China.

Some analysts say that is part of a strategy to pressure Washington to work with the Saudi government on its own terms; others say the prince sees an emerging multipolar world in which the United States plays a less dominant role. Saudi Arabia also agreed in March to a diplomatic rapprochement with Iran after China acted as broker.

The Saudi nuclear efforts raise a specter of proliferation that makes some American officials nervous: Prince Mohammed, the kingdom’s de facto ruler, has said that Saudi Arabia will develop nuclear weapons if Iran does. Any civilian nuclear program has dual-use elements that could aid a country in producing weapons-grade material.

But Prince Mohammed also believes he has the right to exploit the kingdom’s potentially vast uranium deposits for both energy and export. That would create a new revenue source for the kingdom and could give Saudi Arabia greater geopolitical heft. China is already working with Saudi Arabia on uranium prospecting.

Speaking at a conference in Riyadh in January, Prince Abdulaziz bin Salman, the energy minister, said that plans to enrich uranium and produce nuclear fuel — including for export — were even “more important” than proposed reactors in Saudi Arabia. The energy ministry said in a statement that the bidding process for two reactors involves “several technology vendors” and that it expected to receive proposals soon.

The enrichment ambitions make some U.S. officials nervous, even if Saudi Arabia’s turn toward nuclear power would align with the Biden administration’s support of low-carbon energy.

“They have a legitimate case to make about the need to use their uranium to produce energy so that they can sell what’s left of their oil before that runs out or the market collapses or something else happens,” said Hussein Ibish, a scholar at the Arab Gulf States Institute in Washington.

The United States requires countries to meet high standards of nonproliferation before cooperating on a nuclear program, including in some cases banning uranium enrichment and fuel reprocessing in their territory. The details are enshrined in a 123 agreement, which the State Department negotiates with advice from the Energy Department. The pact must be reviewed by Congress, which can block it.

Saudi officials have refused to commit to the restrictions, which would undermine their goal of enriching and selling uranium.

Even if Saudi officials express willingness to sign a 123 agreement, any deal would face significant political obstacles in Washington. President Biden distrusts Prince Mohammed and denounced Saudi Arabia during a blowup over Riyadh’s oil policy in October. And many Democratic lawmakers and some Republican ones say Saudi Arabia has been a destabilizing force.

“Absolutely not,” Representative Ro Khanna, a California Democrat, said in an interview when asked whether he would support an agreement allowing Saudi Arabia to use U.S. nuclear technology. “It’s a nonstarter.”

The White House and State Department declined requests for official interviews, and the department would reply only to written questions. U.S. and Saudi officials who spoke did so on the condition of anonymity.

The State Department said the United States had been negotiating an agreement with Saudi Arabia since 2012 but declined to give details. Trump administration officials and advisers pushed the nuclear effort, often secretly — an initiative to which some senators objected, citing Saudi Arabia’s human rights record and the potential for development of nuclear arms.

The State Department said the Biden administration “is committed to supporting Saudi Arabia’s clean energy transition, including its efforts to develop a peaceful nuclear energy program.” The department added that the United States requires “the highest international standards” on “safety, nonproliferation, export controls and physical security.”

The Saudi energy ministry said the kingdom’s “peaceful nuclear power program” would be based on “transparency and international best practices,” and that it would work closely with the International Atomic Energy Agency and countries that have signed general agreements with the Saudis to help with nuclear energy. Those include China, Russia, South Korea and France.

Some Saudi officials believe the United States has been an unreliable partner that has swung wildly on policy and has been unable to deliver on security and economic cooperation.

A Blast of Diplomacy

American and Saudi champions of nuclear power in the kingdom saw an opening when President Donald J. Trump sought to build ties with Prince Mohammed.

The efforts on energy began early in the administration, as a consortium of American companies, including Westinghouse, expressed interest in Saudi Arabia’s proposed nuclear reactor project. Michael T. Flynn, Mr. Trump’s first national security adviser, and Thomas J. Barrack Jr., an investor who was the chairman of Mr. Trump’s inaugural committee, pushed for U.S. involvement.

Those initial efforts stalled after the two men became embroiled in separate legal issues over other dealings with foreign officials.

Democratic lawmakers opened an inquiry into the nuclear efforts and issued a report saying White House lawyers had questioned the legality and ethics of the proposed ventures. That did not deter the administration. Rick Perry, the energy secretary, took the lead.

Mr. Perry issued seven authorizations to American companies allowing them to transfer unclassified U.S. nuclear technology — but not physical equipment — to Saudi Arabia.

However, American officials said they failed to produce any 123 agreement that they thought would be approved by Congress.

In September 2020, Mr. Trump held a White House ceremony in which the United Arab Emirates and Bahrain agreed to normalize relations with Israel in a pact called the Abraham Accords. Saudi leaders told the White House that nuclear cooperation was a condition for their country joining, a former senior administration official said. But Mr. Trump left office before an agreement could be reached.

“Nuclear to me is where you want to be going,” Mr. Perry said in an interview at an investment conference in Riyadh. But in baseball terms, he said, talks under Mr. Trump only ever got to “the second” inning.

He paused, then added, “The top of the second.”

Flirting With China

As the Biden administration insists on certain safeguards, Saudi officials have continued looking at non-American companies.

An attractive one is the Korea Electric Power Corporation, or Kepco, based in South Korea. A company spokesperson said Kepco is talking to U.S. officials about the nuclear program and is interested in working with Saudi Arabia but declined to go into details, citing a confidentiality agreement with the Saudis.

But the South Korean government, a U.S. ally, would likely bar the company from the project if Saudi Arabia does not enter into a strict nonproliferation agreement with a government or the International Atomic Energy Agency. The company said it hoped “the conditions for participation in the project will be created.” And a complicating factor is a legal dispute between Kepco and Westinghouse over reactor designs.

French bidders would be in a similar situation. And working with Moscow would be unappealing for Riyadh because of American- and European-led sanctions imposed on Russia.

Although Saudi officials think of American nuclear technology as the best option, they are open to considering Chinese technology. Saudi Arabia and China have forged closer ties recently, including over oil and military cooperation..

China has built up Saudi Arabia’s ballistic missile arsenal over decades and sends military officers to work on the program, current and former U.S. officials said. And with Chinese technology, Saudi Arabia is now able to build its own missiles, they said. New satellite imagery showing bulldozer activity at previous missile sites indicates Saudi Arabia could be housing a new type of missile underground, said Jeffrey Lewis, a nuclear nonproliferation expert at the Middlebury Institute of International Studies.

The missile program is separate from any nuclear energy effort, but it shows how closely China works with Saudi Arabia on highly technical and sensitive projects.

China’s leader, Xi Jinping, visited Saudi Arabia in December after nearly three years of pandemic isolation. He and King Salman issued a statement in which they promised “to cooperate in the peaceful uses of nuclear energy.”

While visiting Saudi Arabia in 2016, Mr. Xi oversaw the signing of a memorandum of understanding to help build a reactor.

Source: https://dnyuz.com/2023/04/01/inside-saudi-arabias-global-push-for-nuclear-power/

Saudi oil giant Aramco posts record $161 billion profit for 2022

  • Saudi Arabia’s state-controlled oil giant Aramco posted a record net income of $161.1 billion for 2022, up by 46.5 percent over the year.
  • “This is probably the highest net income ever recorded in the corporate world,” Aramco CEO Amin Nasser said on a Sunday earnings call.
Sopa Images | Lightrocket | Getty Images

Saudi Arabia’s state-controlled oil giant Aramco on Sunday reported a record net income of $161.1 billion for 2022 — the largest annual profit ever achieved by an oil and gas company.

Aramco said net income increased 46.5 percent over the year, from $110 billion in 2021. Free cash flow also reached a record $148.5 billion in 2022, compared with $107.5 billion in 2021.

“This is probably the highest net income ever recorded in the corporate world,” Aramco CEO Amin Nasser said on a Sunday earnings call.

The results are nearly triple the profit that oil major ExxonMobil posted for 2022, bolstered by soaring oil and gas prices through last year, along with higher sale volumes and improved margins for refined products.

Oil and gas prices surged at the start of 2022, with western sanctions on Russia for its invasion of Ukraine steadily tightening access to Moscow’s supplies, particularly seaborne crude and oil products.

Oil prices have since pulled back more than 25% year-on-year, with hot inflation and rising interest rates overshadowing a more bullish demand outlook from China. Brent and WTI prices fell 6% last week alone. Brent last traded at around $80 dollars per barrel.

“We are cautiously optimistic,” Nasser said. “If you consider China opening up, the pickup in jet fuels and the very limited spare capacity, we are cautiously optimistic in the short to mid-term [that] markets will remain tightly balanced.”

Aramco raised its fourth-quarter dividend by 4% to $19.5 billion, to be paid in the first quarter of 2023. Aramco also said it would issue bonus shares to eligible shareholders as a result.

“We’re aiming to sustain [the dividend] at this level,” Aramco Chief Financial Officer Ziad Al-Murshed told the earnings call. “We have the financial strength to go through the ups and downs of the cycle.”

Underinvestment risk

Nasser also used the results release to repeat his warning about “persistent underinvestment” in the hydrocarbons sector.

“Given that we anticipate oil and gas will remain essential for the foreseeable future, the risks of underinvestment in our industry are real, including contributing to higher energy prices,” Nasser said on Sunday, echoing comments made during a recent interview with CNBC.

At both a ministerial and Aramco level, Saudi Arabia has been a proponent of avoiding short-term fuel shortages through the dual funding of fossil fuel supplies and the green transition.

“We don’t see enough investment getting into the markets right now,” he reiterated on the Sunday call. “We encourage the industry, policymakers, investors… to avail additional investment to really increase the amount in the sector, so that we can meet future demand.”

Aramco said average hydrocarbon production last year was 13.6 million barrels of oil equivalent per day, including 11.5 million barrels per day of total liquids. Saudi Arabia most recently produced 10.39 million barrels per day of crude oil in January, the International Energy Agency found in the February issue of its Oil Market Report.

As chair of the influential OPEC+ producers’ alliance, Saudi Arabia has been leading by example the group’s efforts to collectively reduce their output targets by 2 million barrels per day, agreed in October and reaffirmed at technical and ministerial meetings since. The group’s move towards limiting supply availabilities has put OPEC+ at odds with some international consumers, sparking a war of words with Washington towards the end of the last year, as U.S. President Joe Biden’s administration stressed the need to easing the burden on households.

Source : https://www.cnbc.com/2023/03/12/saudi-oil-giant-aramco-posts-record-161point1-billion-profit-for-2022.html

F1: After Crash During Qualifying Session, Mick Schumacher Will Miss The Saudi Arabian GP

Haas F1 Team has confirmed that it will run only one car driven by Kevin Magnussen in the 2022 Saudi Arabian GP.

Saudi Arabia executes 81 men in one day for terrorism, other offences

Saudi Arabia executed 81 men including seven Yemenis and one Syrian on Saturday, the interior ministry said, in the kingdom’s biggest mass execution in decades.

The number dwarfed the 67 executions reported there in all of 2021 and the 27 in 2020.

Offences ranged from joining militant groups to holding “deviant beliefs”, the ministry said in a statement.

“These individuals, totalling 81, were convicted of various crimes including murdering innocent men, women and children,” the statement read.

“Crimes committed by these individuals also include pledging allegiance to foreign terrorist organisations, such as ISIS (Islamic State), al-Qaeda and the Houthis,” it added.

The ministry did not say how the executions were carried out.

The men included 37 Saudi nationals who were found guilty in a single case for attempting to assassinate security officers and targeting police stations and convoys, the statement added.

The mass execution is likely to bring back attention to Saudi Arabia’s human rights record at a time when world powers have been focused on Russia’s invasion of Ukraine.

Rights groups have accused Saudi Arabia of enforcing restrictive laws on political and religious expression, and criticised it for using the death penalty, including for defendants arrested when they were minors.

Source : https://www.reuters.com/world/middle-east/saudi-arabia-executes-81-men-terrorism-other-charges-spa-2022-03-12/

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