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Saudi Monshaat to Hold Growth Week from August 27 to 31

Monshaat will hold the Growth Week between August 27 and 31.
Monshaat will hold the Growth Week between August 27 and 31.
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Saudi Monshaat to Hold Growth Week from August 27 to 31

Monshaat will hold the Growth Week between August 27 and 31.
Monshaat will hold the Growth Week between August 27 and 31.

The Small and Medium Enterprises General Authority (Monshaat) is set to hold the Growth Week between August 27 and 31.

The event is part of a series of business weeks. It will be organized in cooperation with a number of government agencies and sectors concerned with the growth of enterprises. Among them is the US-based Silicon Valley Innovation Center, which carries out the Business Acceleration Program in partnership with Monshaat Tomouh (Aspiration) Program, whose goal is to support fast-growing enterprises in the Kingdom.

The Silicon Valley Program offers a range of consultations and workshops to fast-growing enterprises with the aim of developing their leadership skills and knowledge.

A group of experts specialized in the field of entrepreneurship is also scheduled to take part in the event to showcase the best international practices that drive the growth of enterprises and the challenges faced in the process.

During the Growth Week, a group of prominent local experts from support councils, including senior officials and CEOs, is scheduled to talk about the programs and initiatives that contribute to the growth of the entrepreneurial environment.

The Growth Week provides visitors and interested parties with the opportunity to learn about successful entrepreneurial experiences through specialized meetings with prominent entrepreneurs and join discussions about challenges in the field and means to address them effectively.

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Aramco Chief Expects Additional Oil Demand of 1.3 Million bpd this Year

Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
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Aramco Chief Expects Additional Oil Demand of 1.3 Million bpd this Year

Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025

Saudi oil giant Aramco's Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year.
Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Nasser was responding to a question on the impact of US President Donald Trump's energy decisions, which could increase US hydrocarbon output.
Oil demand this year will approach 106 million barrels per day after averaging about 104.6 million barrels per day in 2024, he said.
“We still think the market is healthy ... last year we averaged around 104.6 million barrels (per day), this year, we're expecting an additional demand of about 1.3 million barrels ... so there is growth in the market,” he said.
Asked about US sanctions on Russian crude tankers, he said the situation was still at an early stage.
“If you look at the impacted barrels, you're talking about more than 2 million barrels,” he said. “We will wait and see how would that translate into tightness in the market, it is still in the early stage.”
Asked if China and India have sought additional oil volumes from Saudi Arabia on the back of the sanctions, Nasser said Aramco is bound by the levels the Kingdom's energy ministry allows it to pump.
“The Kingdom and the Ministry of Energy is always looking at balancing the market. They take that into account when they give us the target of how much we should put in the market,” he said.
In a Bloomberg television interview in Davos, Nasser said: “We still see good demand coming out of China.” The country, along with India, make up about 40% of the rise in global consumption and, “demand is increasing year on year.”
Nasser’s comments echo those he made back in October, saying he was bullish on China after a series of government stimulus measures aimed at reviving the economy.
Nasser also said that Aramco is working with MidOcean, an LNG firm in which it took a 51% stake, and “looking at expanding our position globally in LNG,” without giving details.