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Saudi Arabia Aligns Education Outputs with Industrial, Mining Sector Job Demands

A glimpse of one of the specialized institutes in the industrial sector in Saudi Arabia (Asharq Al-Awsat)
A glimpse of one of the specialized institutes in the industrial sector in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Aligns Education Outputs with Industrial, Mining Sector Job Demands

A glimpse of one of the specialized institutes in the industrial sector in Saudi Arabia (Asharq Al-Awsat)
A glimpse of one of the specialized institutes in the industrial sector in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia’s Deputy Minister of Industry and Mineral Resources for Human Capacity Development Eng. Faris Alsaqabi said that the Ministry of Industry would soon announce its strategy to develop human capabilities in the industrial and mining sectors.

“The Ministry has succeeded in formulating the strategy as well as the national programs that support the achievement of its goals,” he said.

Alsaqabi made the remarks during his visit to the Food Industries Institute in Al-Kharj to review the latest developments in the field of training and Saudization.

Alsaqabi said that there has been diligent work to create 2.1 million jobs in the industrial and mining sectors, and the ministry is serious in the field of qualifying and training workers.

Alsaqabi said the Ministry has started negotiating with Saudi universities, academies and institutes to facilitate qualifying and developing capabilities and providing specializations that support the industrial sector in the Kingdom.

These include the opening of the Department of Mining Engineering at King Fahd University of Petroleum and Minerals, and the ongoing efforts with Princess Nourah Bint Abdulrahman University to develop specializations that contribute to women’s participation in the industrial sector, as well as with King Abdulaziz University and King Saud University.

Alsaqabi said that the Ministry of Industry is working with the Ministry of Education to disseminate the culture of the Industrial Revolution through initiatives to enrich school curricula with some skills that are required in the labor market, especially in the technologies of the Fourth Industrial Revolution and its impact on the industrial and the mining sectors.

The deputy minister said that the Agency of the Ministry of Industry and Mineral Resources for Human Capacity Development is concerned with the sustainability of learning, which begins from the kindergarten level and later during the educational journey through various levels of school and university education.

This does not end with graduation, but rather continues throughout life in order to raise the efficiency and skills of workers in the industrial sector so as to ensure that they are armed with the latest skills resulting from the influence of the Fourth Industrial Revolution technologies.

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Oil Trades in Tight Range Ahead of US Election

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
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Oil Trades in Tight Range Ahead of US Election

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices traded in a narrow range on Tuesday ahead of what is expected to be an exceptionally close US presidential election, after rising more than 2% in the previous session as OPEC+ delayed plans to hike production in December.
Brent crude futures ticked down 3 cents, or 0.04%, to $75.05 a barrel by 0600 GMT, while US West Texas Intermediate crude was at $71.43 a barrel, down 4 cents, or 0.06%.
"We are now in the calm before the storm," IG market analyst Tony Sycamore said.
Oil prices were supported by Sunday's announcement from the Organization of the Petroleum Exporting Countries (OPEC) and their allies, a group known as OPEC+, to push back a production hike by a month from December as weak demand and rising non-OPEC supply depress markets, Reuters said.
Still, risk-taking remains limited with a busy week - including the US election, the Federal Reserve's policy meeting, and China's National People's Congress (NPC) meeting - keeping many traders on the sidelines, said Yeap Jun Rong, market strategist at IG.
For now, polls suggest the US presidential race will be closely contested, and any delay in election results or even disputes could pose near-term risks for broader markets or drag on them for longer, added Yeap.
"Eyes are also on China's NPC meeting for any clarity on fiscal stimulus to uplift the country's demand outlook, but we are unlikely to see any strong commitment before the US presidential results, and that will continue to keep oil prices in a near-term waiting game," Yeap said.
Meanwhile, OPEC oil output rebounded in October as Libya resumed output, a Reuters survey found, although a further Iraqi effort to meet its cuts pledged to the wider OPEC+ alliance limited the gain.
More oil could come from OPEC producer Iran as Tehran has approved a plan to increase output by 250,000 barrels per day, the oil ministry's news website Shana reported on Monday.
In the US, a late season tropical storm predicted to intensify into a category 2 hurricane in the Gulf of Mexico this week could reduce oil production by about 4 million barrels, researchers said.
"Technically, crude oil needs to rebound above resistance at $71.50/72.50 to negate the downside risks," IG's Sycamore said, referring to WTI prices.
"All of which suggests there won't be a scramble to chase it higher in the short term."
Ahead of US weekly oil data on Wednesday, a preliminary Reuters poll showed on Monday that US crude stockpiles likely rose last week, while distillate and gasoline inventories fell.