Saudi Arabia Promises to Host 'Best Expo in History'

 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)
 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)
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Saudi Arabia Promises to Host 'Best Expo in History'

 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)
 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)

Representatives of the 170 member-states of the Bureau International des Expositions (BIE) gathered in Paris on Tuesday for the announcement of the findings of Enquiry Missions carried out by the BIE to assess the candidature projects for World Expo 2030.

The member-states voted to retain the three projects that were considered by the Executive Committee of the BIE to be viable and in line with BIE regulations. Those included Saudi Arabia, Italy and South Korea.

The Saudi Arabian delegation, led by the Foreign Minister Prince Faisal bin Farhan, presented a dynamic plan and philosophy for Saudi Arabia’s ambition to host the Expo 2030, under the theme “The Era of Change: Together for a Foresighted Tomorrow”.

The team included the CEO of the Royal Commission for Riyadh City, Ibrahim Al-Sultan, the Director of Landscape Architecture, Lamia al-Muhanna, Senior Director of Creative Arts, Architect Nouf al-Moneef, Minister of Investment Khalid al-Falih, and the Kingdom’s Ambassador to the US, Princess Reema Bandar Al-Saud.

Speaking on the occasion, Foreign Minister Prince Faisal bin Farhan expressed gratitude to the General Assembly president and the BIE Secretariat for their dedicated efforts.

Emphasizing the Kingdom’s unique global position, which connects north to south and east to west, Bin Farhan linked Saudi Arabia’s Expo 2030 bid to Vision 2030 and expressed the country’s ambition to create a prosperous and sustainable future.

He also announced that Saudi Arabia offered a $343 million facilities package designed to assist 100 eligible countries in areas like pavilion construction, maintenance technologies, travel events, and more.

For his part, Ibrahim Al-Sultan, CEO of the Royal Commission for Riyadh City, stressed Saudi Arabia’s capabilities to fulfill its commitments, noting that Riyadh planned to host 120 million visitors in 2030.

He also expressed confidence in Riyadh’s ability to deliver an “unprecedented world expo”.

In his speech, the minister of Investment noted that the investment opportunities within the framework of Expo 2030 would be excellent and integrated with the investment climate in Saudi Arabia.

Princess Rima bint Bandar said that her country was “committed to holding the best version in history of a world exhibition,” pointing to the Kingdom’s tourism, natural, cultural, historical and human capabilities.

The Saudi delegation did not forget to remind of the major ongoing projects in the Kingdom, including NEOM, Qiddiya, Misk City, the Red Sea projects, and the Cube.

On Monday evening, the Royal Commission for Riyadh City hosted a celebration at the Grand Palais Ephémère, in the heart of Paris, in the presence of Crown Prince Mohammed bin Salman.

The event provided an opportunity to present the Kingdom’s plan, and to share its story of the unprecedented national transformation.

On this occasion, Prince Mohammed bin Salman met with the Secretary-General of the BIE, Dimitri Kerkentzes, with whom he reviewed the Kingdom’s bid to host Expo 2030. The meeting was attended by Prince Faisal bin Farhan, Ibrahim Al-Sultan, and the Kingdom’s Ambassador to France, Fahd Al-Ruwaili.

A member of the French delegation, which participated in the BIE General Assembly, told Asharq Al-Awsat that the Saudi presentation was “unique”, adding that Riyadh “deserves to host the exhibition.”

During the 173rd General Assembly of the BIE in November 2023, the member-states will elect the host country of World Expo 2030 via secret ballot on the principle of one country, one vote.



Riyadh Air Wins Approval to Operate US Flights

 A Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport in Riyadh on June 7, 2026. (AFP)
A Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport in Riyadh on June 7, 2026. (AFP)
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Riyadh Air Wins Approval to Operate US Flights

 A Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport in Riyadh on June 7, 2026. (AFP)
A Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport in Riyadh on June 7, 2026. (AFP)

Saudi Arabia's new airline Riyadh Air won the right to operate flights to and from the United States, the US Transportation Department said in an order Tuesday.

The airline launched its first London flight on its new Boeing fleet last week. Launched in 2023, Riyadh Air is Saudi Arabia's second national airline ‌after Saudia, ‌and is owned by the country's ‌Public ⁠Investment Fund.

USDOT ⁠said "the grant of this authority is consistent with the public interest."

Riyadh Air told USDOT when it sought approval last month that it intends to operate to more than 100 international destinations by 2030 and currently ⁠has or is planning partnerships with ‌at least 10 ‌international air carriers including Delta Air Lines.

Delta has said ‌it plans to begin nonstop service ‌to Riyadh from Atlanta in October.

Deliveries are set to bring its fleet to eight by the end of July, and it plans to fly ‌to 22 cities by March 2027, Riyadh CEO Tony Douglas said last ⁠week.

With ⁠up to 72 787s and as many as 60 A321neos and 50 A350s on order, Douglas calls it "the biggest global aviation startup in modern history".

The airline is part of the Kingdom's plan to diversify its economy into new industries such as tourism, logistics and technology.

Riyadh Air has announced routes to Cairo, Dubai, Jeddah, Madrid and Manchester so far, and cities in India are likely to follow, Douglas said.


Exxon Mobil to Supply South Africa's First Planned LNG Terminal

AUSTIN, TEXAS - JUNE 16: Gas prices are displayed at an Exxon Mobil gas station on June 16, 2026 in Austin, Texas. Brandon Bell/Getty Images/AFP
AUSTIN, TEXAS - JUNE 16: Gas prices are displayed at an Exxon Mobil gas station on June 16, 2026 in Austin, Texas. Brandon Bell/Getty Images/AFP
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Exxon Mobil to Supply South Africa's First Planned LNG Terminal

AUSTIN, TEXAS - JUNE 16: Gas prices are displayed at an Exxon Mobil gas station on June 16, 2026 in Austin, Texas. Brandon Bell/Getty Images/AFP
AUSTIN, TEXAS - JUNE 16: Gas prices are displayed at an Exxon Mobil gas station on June 16, 2026 in Austin, Texas. Brandon Bell/Getty Images/AFP

Exxon Mobil has signed a preliminary deal to supply liquefied natural gas to Zululand Energy Terminal, which will be South Africa's first LNG import facility once built, the companies said on Wednesday.

The planned terminal is part of South Africa's pivot away from coal-fired power generation, which accounts for the bulk of its electricity supply.

Reuters reported in March that the Zululand Energy Terminal (ZET) hoped to strike a deal with Exxon Mobil on LNG supply.

Exxon Mobil's ⁠participation helps reinforce ⁠the importance of Richards Bay port, where ZET is being built on South Africa's east coast, as an entry point for LNG and supports plans to unlock a "competitive and sustainable gas market", said Oliver Naidu, ZET director.

Exxon Mobil has identified South Africa ⁠as a priority market and wants to grow its LNG supply to more than 40 million metric tons per annum (mtpa) by 2030.

"This agreement reflects Exxon Mobil's global LNG experience and our commitment to support South Africa's energy security with reliable supply," said Andrew Barry, chairman of ExxonMobil LNG Market Development Inc.

Earlier this month, South African state power utility Eskom signed a long-term LNG agreement with ZET that will support a planned ⁠3,000 ⁠megawatt gas-to-power plant project.

Phase 1 of the terminal includes a floating storage unit and an onshore regasification system with capacity of around 3 mtpa, or 400 million standard cubic feet of gas a day.

Phase 2, which will bring the project's total expected cost to $1 billion, will introduce extra regasification capacity and storage onshore, boosting total volumes to 4.5 mtpa, or about 600 million standard cubic feet a day, Naidu said.


IEA Sees Gradual Hormuz Recovery Tipping Into Significant 2027 Surplus

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 16, 2026. REUTERS/Stringer
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 16, 2026. REUTERS/Stringer
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IEA Sees Gradual Hormuz Recovery Tipping Into Significant 2027 Surplus

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 16, 2026. REUTERS/Stringer
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 16, 2026. REUTERS/Stringer

The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.

The US and Iran reached an agreement to end the three-month-old war, which includes Iran reopening the Strait of Hormuz ⁠and the US lifting ⁠its naval blockade, potentially bringing an end to the largest oil supply disruption in history which shut in over 14 million barrels per day of Middle East oil output, according ⁠to the IEA.

"If the deal holds, exports and production from the Gulf should see a gradual recovery – not least because Iranian oil exports can fully resume once the US blockade is lifted," the agency, which advises industrialized countries, said.

The oil market will then enter a significant supply overhang next year, the IEA said ⁠in ⁠its first look at 2027, with global oil supply set to surge by 8 million bpd and demand rising by just 2 million bpd.

"This may provide a welcome respite to the market and an opportunity to replenish depleted inventories, or to build new strategic reserves, as countries review their energy strategies and policies in response to the crisis."