Saudi Arabia may cut Asia’s January crude prices

Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said. The January official selling price (OSP) for flagship Arab Light may fall by 70 to 90 cents a barrel from December

At the expense of Russia, Saudi Arabia increases its share of crude oil in Asia

In November, Russia gave up some of its barrels of crude oil, which could be a precursor to a change in market dynamics, while Saudi Arabia regained market share of Asia’s imports. According to data published by LSEG Oil Research, Asia’s imports from Saudi Arabia, the largest crude exporter in the world, increased from 5.28

International investors eye lithium mining in Argentina

Lithium mining has become a central element in several countries’ strategy to transition from fossil fuels to renewable energy. Saudi investors are aware of Argentina’s major role in this respect. Earlier this month, a delegation from the Saudi Energy Ministry visited the province of Catamarca, in the extreme north of Argentina, in order to discuss

India, Saudi Arabia sign hydrogen agreement

India and Saudi Arabia have agreed to jointly develop electrical interconnections and low-carbon hydrogen. The Indian government said the two sides aim to establish a general framework for cooperation in the field of co-production of green/clean hydrogen and renewable energy. The MoU was signed in Riyadh, Saudi Arabia by union minister for power and new

India, Saudi Arabia sign MoU on green hydrogen

India and Saudi Arabia have signed a Memorandum of Understanding (MoU) for grid interconnections, green/clean hydrogen, and the supply chain for the same. The MoU was signed by the union minister for power and new & renewable energy, R K Singh, and the minister of energy, Government of Saudi Arabia, Abdulaziz bin Salman Al-Saud on

Saudi Arabia’s $2.6 bn mining decarbonization deal

At the end of July, a $2.6 billion deal with Brazil’s biggest miner, Vale SA, gave Saudi Arabia a 10 percent interest in mines from Canada to Indonesia that produce copper, nickel and other industrial metals — all critical materials needed to help the world decarbonize. The deal set the stage for a landmark shift

Gulf countries now betting big on green hydrogen

After riding a fossil-fuel boom for decades, Gulf Arab states are eyeing “green” hydrogen as they try to transition their economies and ease the climate crisis at a stroke. Oil producers Saudi Arabia, the United Arab Emirates and Oman are investing heavily in the climate-friendly fuel in a search for alternative revenues to crude and

Saudi Arabia to introduce hydrogen for transportation

By mid-2024, the company will be making hydrogen for vehicles such as buses and trucks. A larger plant, focusing on exports, is also being developed.

ACWA Power commences work on world’s largest green hydrogen project

ACWA Power and its partners have begun the construction work at the world’s largest green hydrogen project in NEOM. The plant will need around 4.3 GW of clean energy to power it, and ACWA plans to use solar during the day and wind at night to eliminate the need for batteries and expensive storage solutions.

L&T from India is front runner for NEOM’s renewable facilities contract

According to MEED, India’s Larsen & Toubro is believed to has been selected to build solar and wind plants for supplying electricity to the city’s $6.4-billion green hydrogen-based ammonia plant at OXAGON industrial zone for Saudi Arabia’s NEOM Green Hydrogen Co. L&T, along with Energy China and Power China, has submitted a proposal for an