Danish Investors Push DSV on ESG Concerns in $10 Billion Neom Joint Venture
Danish investors in DSV are pressing the logistics giant regarding environmental, social, and governance aspects of its $10 billion joint venture in Saudi Arabia, supporting the Neom mega-city project.
OPEC+ Agrees to 2.2 Million BPD Output Cuts for Early 2024, Led by Saudi Arabia
OPEC+ oil producers have agreed to voluntary output cuts totaling approximately 2.2 million barrels per day (bpd) for early next year, with Saudi Arabia continuing its existing voluntary cut.
Fossil Fuel Giants on Track to Double Production, Exceed Climate Thresholds, UN-Backed Report Warns
A United Nations-backed report reveals that major fossil fuel-producing countries, including the United States, Russia, and Saudi Arabia, are on course to produce twice the amount of fossil fuels that exceed critical global warming thresholds by the end of this decade.
DSV Secures Exclusive Logistics Contract for Saudi Arabia's NEOM Project
DSV, a logistics company, has secured an exclusive contract to provide logistics services for NEOM, a large development project in Saudi Arabia, encompassing cities, ports, research centers, and more.
Rising Oil Prices Push Up Gas Costs for US Drivers, Aiding Russia's War Effort
Rising oil prices are impacting consumers, complicating the global fight against inflation, and contributing to Russia's war chest.
OPEC+ Sticks to Strategy, Saudi Arabia Extends Unilateral Oil Cut
OPEC+ decided to maintain its current production cut strategy after Saudi Arabia extended its unilateral cutback of 1 million barrels a day into September.
Saudi Arabia Extends 1M-Barrel Oil Cut, Leaves Option to Deepen
Saudi Arabia has extended its unilateral oil production cut of 1 million barrels a day into September, and the country says it may extend or deepen the cuts further.
Saudi Arabia Raises Crude Oil Prices, Risking Demand Suppression
Saudi Arabia's state-owned oil company, Saudi Aramco, increased the prices of its crude oil in Europe, the Mediterranean, and Asia, contrary to expectations.
Saudi Arabia Launches Inaugural Air Taxi Service
Saudi Arabia has achieved a significant milestone in its pursuit of commercial electric vertical take-off and landing (eVTOL) operations with the successful completion of the first test flight of a flying taxi.
NEOM and King Salman Airport Driving Rapid Development in the Middle East
The Middle East is experiencing rapid development, with notable projects like NEOM and the King Salman International Airport transforming the region.
OPEC data suggests that Saudi Arabia's decision to reduce oil output will tighten the oil market
Based on data from OPEC, Saudi Arabia's decision to cut oil production is expected to significantly tighten global markets in July 2023.
Saudi Aramco invests in ammonia-powered transportation
The company specializing in the new fuel tech, Brooklyn-based Amogy, is one of the leaders in ammonia-based alternative fuels.
Saudi Arabia invested $2.7 billion into improving its logistics network, but will it pay off?
In a move to entice investment firms on a global scale to take a look at the kingdom’s supply chain capabilities,
The United States and Saudi Arabia are battling over oil
While the relationship between the two countries is critical, United States officials are vocalizing angry sentiments at the Saudi-led OPEC decision to cut oil production.
OPEC decision condemned by White House
The Saudi Arabia and Russia-led Organization of Petroleum Exporting Countries (OPEC) made a decision last week that has been condemned by The White House and President Biden directly.