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On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. [1] The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic. [1]
Saudi Vision 2030 is a Saudi Arabian government program launched by Crown Prince Mohammed bin Salman in January 2016. The program aims to diversify the Saudi economy away from oil, in addition to transforming the country both socially and culturally. [1] This following is a list of all projects that were announced as part of Vision 2030: [2]
At the start of the pandemic, oil prices decreased to below $20 a barrel in April after Saudi Arabia entered an oil price war. While a truce among the world's top oil producers has pushed the price of oil up to $40 a barrel, this figure is still almost half the price of oil per barrel at the start of 2020.
A central part of the Al Yamamah deal was the sale of Tornado fighters to the Royal Saudi Air Force.. Al Yamamah (Arabic: اليمامة, lit. 'The Dove') is the name of a series of record arms sales by the United Kingdom to Saudi Arabia, paid for by the delivery of up to 600,000 barrels (95,000 m 3) of crude oil per day to the British government. [1]
Saudi Arabia: Saqr1 Saqr2 Saqr3 Saqr4 +230 [55] [56] CAIG Wing Loong China Saudi Arabia: Pterodactyl Wing Loong II: 300 [57] [58] [59] King Abdulaziz City for Science and Technology signed a partnership with China Aerospace Science and Technology Corporation to establish a manufacturing plant in Saudi Arabia for the CH series of unmanned combat ...
Solar power in Saudi Arabia has become more important to the country as oil prices have risen. Saudi Arabia is located in the Arabian Peninsula, where it receives 12 hours of sun a day. [ 1 ] Saudi Arabia has the potential to supply its electrical needs solely with solar power. [ 2 ]
SACO (Saudi Company for Hardware) is a provider of home improvement products in Saudi Arabia. Founded in 1984, SACO started out with one store in Riyadh.Over the next two decades, the company expanded its reach across the country and, to date, operates 34 stores in 18 cities, including five stores (known as SACO World), each occupying between 2,350 and 24,500 square meters.
The King Abdullah City for Atomic and Renewable Energy (K.A.C.A.R.E.) is a scientific research and governmental entity in the Kingdom of Saudi Arabia and is chaired by the Minister of Energy. K.A.C.A.R.E. was founded in 2010 with a mandate to develop nuclear and renewable energy in Saudi Arabia. It is headquartered in Riyadh city.