World’s Biggest Oil Exporter Sets Ambitious Renewable Energy Goal

Saudi Arabia, the world’s biggest crude oil exporter, is launching an ambitious renewable energy program to transform its power sector. The kingdom is pledging between $30-$50 billion to develop 30 solar and wind projects over the next 10 years to boost electricity generation and curb oil consumption. Saudi Arabia wants …

This Map Shows the Countries with the Most ‘Toxic’ Environments on Earth

Saudi Arabia and Kuwait have been named the most “toxic” nations on Earth in a new report. The Eco Experts gathered data on and then ranked 135 countries based on five environmental factors: Energy consumption per capita, CO2 emissions from fuel combustion, air pollution levels, deaths attributable to air pollution, …

Saudis Kick-Start RE Plan

Saudi Arabia has launched the first two tenders of its much-awaited 9.5GW renewable energy program. Under Round 1, the country has opened requests for qualifications for the 400MW Midyan wind farm in Al Jouf province and the 300MW Sakaka solar park in Tabuk province. Its Renewable Energy Project Development Office …

A Six Month Probation?

The output cuts announced by OPEC and eleven non-OPEC producers have entered their probation period and it is far too soon to see what level of compliance has been achieved. The coming weeks will provide more clarity and in the meantime developments elsewhere in the oil supply/demand balance are very …

Saudi to Launch $30-50 Billion Renewable Energy Program Soon: Minister

Saudi Arabia will launch in coming weeks a renewable energy program that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said today. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would in the next few …

Global oil demand could peak by 2020, says Shell

The rise of electric cars has led many analysts to make predictions about the future of the oil industry. ExxonMobil and OPEC have both made statements indicating confidence that the majority of vehicles on the world’s roads will continue to be powered by fossil fuels for the next few decades. …