Saudi Arabia, China Partnership for Geological Mapping Project in Arabian Shield Area

Minister of Industry and Mineral Resources Bandar al-Khorayef inspects a site during the tour (Asharq Al-Awsat)
Minister of Industry and Mineral Resources Bandar al-Khorayef inspects a site during the tour (Asharq Al-Awsat)
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Saudi Arabia, China Partnership for Geological Mapping Project in Arabian Shield Area

Minister of Industry and Mineral Resources Bandar al-Khorayef inspects a site during the tour (Asharq Al-Awsat)
Minister of Industry and Mineral Resources Bandar al-Khorayef inspects a site during the tour (Asharq Al-Awsat)

Saudi Arabia has launched a $207 million project of detailed geological maps of the Arabian Shield, one of the Saudi Geological Survey (SGS) projects, in partnership with the Chinese Geological Survey.

Minister of Industry and Mineral Resources Bandar al-Khorayef inaugurated the project, describing it as one of the most significant comprehensive strategic initiatives for the mining sector regarding the nature of the business, the volume of output, and the coverage area.

He added that the maps constitute the core of the general program of the geological survey, which is an essential element in achieving the goals of Vision 2030, and a first step towards endeavors, to be the third pillar of the Saudi industry.

Khorayef confirmed that the project aims to generate detailed digital geological data of the Arabian Shield, understand the origin of mineral deposits in the area, and strengthen the national geological database and the national library of drilling samples.

The data will provide domestic and international investors with a comprehensive understanding of Saudi Arabia's mining sector investment opportunities.

Geology

The Deputy Minister of Natural Resources for Geology and Chairman of the Chinese Geological Survey, Li Jianxing, said the project would become a new bridge between Saudi-Chinese relations, indicating that the maps will promote scientific progress in earth science and technology.

For his part, the Chinese Consul General in Jeddah, Wang Qimin, stated that the map project is an extension of the longstanding joint projects in the mining sector between the Kingdom and China.

He said it aligns with the Kingdom's Vision 2030 economic development plans and the Chinese Belt and Road Initiative.

Rock analyses

CEO of the Saudi Geological Survey, Abdullah al-Shamrani, explained that during the project, a detailed, high-tech digital geological mapping of all rocky outcroppings would be carried out, with an average of 700 examination sites per geological square.

He indicated that Saudi and Chinese geological experts would conduct several structural, mineral, and chemical analyses.

Shamrani divided the program into three main phases: initial settings, fieldwork and analysis, and final compilation of the map project.

The program is scheduled for 11 years and divided into two phases, the first extending to five years, including producing detailed geological maps of the promising mineral belt areas representing 40 percent of the project area.

The second phase spans over six years, during which 157 maps will be produced, representing the remaining area of the Arabian Shield.

Mineral deposits

The detailed geological maps project of the Arabian Shield aims to produce 271 detailed geological reports and maps of the Arabian Shield, in addition to providing the National Geological Database (NGD) with detailed digital geological data.

It will help enhance the understanding of the origin of mineral deposits and identify and explore new mineral deposits aiming to attract new investments in the mining sector.

The project is the hub for all information from the various historical and recent surveys in the form of two-dimensional maps showing the extent and types of mineralization in the Arabian Shield.



Oil Rises on Rebound in China's Imports, But Trade War Concerns Persist

Representation photo: Pumpjacks are seen in oilfields along Highway 33, known as the Petroleum Highway, west of Buttonwillow, Kern County, California on April 9, 2025. (Photo by Frederic J. BROWN / AFP)
Representation photo: Pumpjacks are seen in oilfields along Highway 33, known as the Petroleum Highway, west of Buttonwillow, Kern County, California on April 9, 2025. (Photo by Frederic J. BROWN / AFP)
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Oil Rises on Rebound in China's Imports, But Trade War Concerns Persist

Representation photo: Pumpjacks are seen in oilfields along Highway 33, known as the Petroleum Highway, west of Buttonwillow, Kern County, California on April 9, 2025. (Photo by Frederic J. BROWN / AFP)
Representation photo: Pumpjacks are seen in oilfields along Highway 33, known as the Petroleum Highway, west of Buttonwillow, Kern County, California on April 9, 2025. (Photo by Frederic J. BROWN / AFP)

Oil prices edged up on Monday after Chinese data showed a sharp rebound in crude imports in March, although concerns that the escalating trade war between the United States and China would weaken global economic growth and dent fuel demand weighed.
Brent crude futures gained 6 cents, or 0.09%, to $64.82 a barrel at 0632 GMT. US West Texas Intermediate crude futures were trading at $61.59 a barrel, up 9 cents, or 0.15%.
China's crude oil imports in March rebounded sharply from the previous two months and were up nearly 5% from a year earlier, data showed on Monday, boosted by a surge in Iranian oil and a rebound in Russian oil deliveries.
However, Brent and WTI have lost about $10 a barrel since the start of the month, and analysts have been revising down their oil price forecasts as the trade war between the world's two largest economies has intensified.
Goldman Sachs expects Brent to average $63 and WTI to average $59 for the remainder of 2025 and sees Brent averaging $58 and WTI $55 in 2026.
It sees global oil demand in the fourth quarter of 2025 rising by just 300,000 barrels per day year-on-year, "given the weak growth outlook," analysts led by Daan Struyven said in a note, adding that the demand slowdown is expected to be the sharpest for petrochemical feedstocks.
BMI, a unit of Fitch Solutions, cut its Brent price forecast to $68 from $76 a barrel for 2025 as it expects slowing economic activity to erode demand.
The Brent price spread between December 2025 and December 2026 has also flipped into contango as investors priced in oversupply and demand concerns, BMI said. In a contango market, front-month prices are lower than those in future months, indicating no shortage of supply.
Beijing increased its tariffs on US imports to 125% on Friday, hitting back against President Donald Trump's decision to raise duties on Chinese goods and raising the stakes in a trade war that threatens to upend global supply chains.
Trump on Saturday granted exclusions from steep tariffs on smartphones, computers and some other electronics largely imported from China, but on Sunday he said he would be announcing the tariff rate on imported semiconductors over the next week.
The trade war has heightened worries that unsold exports could continue driving domestic Chinese prices down.
"Inflation data from China were a window into an economy that is not in shape for a trade fight. Consumer prices fell for a second month in a row in year-on-year terms, while producer prices chalked up their 30% straight fall," Moody's Analytics said in a weekly note, referring to data released on April 10.
As companies prepare for a possible decline in demand, US energy firms last week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, according to Baker Hughes.
Potentially supporting oil prices, US Energy Secretary Chris Wright said on Friday that the United States could stop Iran's oil exports as part of Trump's plan to pressure Tehran over its nuclear program.
Both countries held "positive" and "constructive" talks in Oman on Saturday and agreed to reconvene next week in a dialogue meant to address Tehran's escalating nuclear program, officials said over the weekend.
"This may help remove some of the sanction risk affecting the oil market, particularly if talks keep on moving in the right direction," ING analysts led by Warren Paterson said in a note.