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Red Sea Global to Use Sustainable Fuel for its Fleet

Red Sea Global self-driving vehicles for sustainable transportation (Red Sea Global)
Red Sea Global self-driving vehicles for sustainable transportation (Red Sea Global)
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Red Sea Global to Use Sustainable Fuel for its Fleet

Red Sea Global self-driving vehicles for sustainable transportation (Red Sea Global)
Red Sea Global self-driving vehicles for sustainable transportation (Red Sea Global)

Red Sea Global (RSG) announced using low-carbon biofuel in all its delivery trucks.

According to a press statement, RSG's entire fleet of land vehicles now runs on electricity or biofuels, making it the first Saudi company to operate such an eco-conscious supply chain.

The company, wholly owned by the Public Investment Fund (PIF), currently operates a fleet of six 8-ton refrigerated trucks and three 3.5-ton refrigerated trucks running on biofuel.

The vehicles serve many facilities and are active in the long-range supply chain network. It ensures a smooth transportation of goods to all the company's projects and facilities in the implementation of Red Sea Global's vision for a greener future.

The biofuel is produced from used cooking oil sourced within Saudi Arabia.

The type of fuel RSG has adopted emits only 0.17 kilograms of carbon dioxide equivalent per liter, compared with 2.7kg CO2e per liter from regular diesel usage.

Sustainable biofuel operates all cargo delivery trucks to the company's four destination hotels: Turtle Bay, Six Senses, Southern Dunes, St. Regis Red Sea Resort, and Nujuma, a Ritz-Carlton Reserve.

The transition from using conventional to biofuels reduces carbon emissions and increases the life of vehicle engines, bringing environmental and operational benefits.

RSG's Supply Chain and Logistics Leader, Michael Stockdale, explained that by using sustainable biofuel produced from locally sourced cooking oil, the company is significantly reducing carbon emissions and contributing to the circular economy.

Stockdale pointed out that this is the first step towards a fully sustainable logistics network, saying the company is already looking at new technology and innovations that can further reduce the impact of its supply chain.

Red Sea Global launched advanced technologies equipping each vehicle with a chip measuring the amount of biofuel used daily.

The data allows fleet managers to analyze and optimize fuel consumption, which enhances the sustainability of the company's operations to preserve the environment.

Red Sea Global already uses electricity sourced 100 percent from solar energy to operate its electric vehicles. The company's land transportation fleet emits only a minimal amount of carbon.

The recent announcement also aligns with RSG's long-term strategy to transition to green hydrogen throughout its mobility sector.

By 2030, RSG aims to have between 700 and 800 vehicles in its sustainable fleet, which will create a qualitative shift in how goods are transported in the Kingdom and set a new standard for sustainable supply chains.

Notably, Red Sea Global is one of Vision 2030 pillars and contributes a pivotal role in the Kingdom's transformation process towards anticipating new economic horizons and enhancing the country's rich environmental and cultural heritage.

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Business

Saudi Arabia, Kuwait Discuss Projects and Unified Tax Framework in Divided Zone

Kuwait’s Undersecretary of the Ministry of Oil, Sheikh Dr. Nimer Fahad Al-Malik Al-Sabah, and Saudi Arabia’s Assistant Minister of Energy Mohammed Al-Brahim during the meeting. (KUNA)
Kuwait’s Undersecretary of the Ministry of Oil, Sheikh Dr. Nimer Fahad Al-Malik Al-Sabah, and Saudi Arabia’s Assistant Minister of Energy Mohammed Al-Brahim during the meeting. (KUNA)
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Saudi Arabia, Kuwait Discuss Projects and Unified Tax Framework in Divided Zone

Kuwait’s Undersecretary of the Ministry of Oil, Sheikh Dr. Nimer Fahad Al-Malik Al-Sabah, and Saudi Arabia’s Assistant Minister of Energy Mohammed Al-Brahim during the meeting. (KUNA)
Kuwait’s Undersecretary of the Ministry of Oil, Sheikh Dr. Nimer Fahad Al-Malik Al-Sabah, and Saudi Arabia’s Assistant Minister of Energy Mohammed Al-Brahim during the meeting. (KUNA)

Saudi Arabia and Kuwait have discussed major projects and the establishment of a unified mechanism for tax procedures in the Divided Zone, during a meeting of the Permanent Joint Saudi-Kuwaiti Committee held on Sunday at its headquarters in Al-Khafji, Saudi Arabia.

The meeting, co-chaired by Kuwait’s Undersecretary of the Ministry of Oil, Sheikh Dr. Nimer Fahad Al-Malik Al-Sabah, and Saudi Arabia’s Assistant Minister of Energy, Mohammed Al-Brahim, reviewed progress in creating a unified tax framework aimed at providing a clear regulatory structure for relevant authorities, improving revenue organization, boosting procedural efficiency, and ensuring fairness and transparency in line with shared interests.

The meeting examined reports on petroleum operations in the onshore and offshore areas of the Divided Zone, including strategic plans, current and future projects, potential challenges to implementation, and the use of advanced technologies in oil operations, environmental and safety initiatives, development plans, and national workforce training.

According to the Kuwaiti Ministry of Oil, the meeting forms part of ongoing efforts to implement the memorandum of understanding signed between the two countries on December 24, 2019, strengthening bilateral coordination and serving their strategic interests in the Divided Zone.

The committee reviewed completed procedures for the evacuation of Chevron Saudi Arabia from its sites in the Al-Zour area. The Kuwaiti government officially took over the locations on January 20, reflecting a high level of institutional cooperation between the two sides.

The meeting addressed efforts to allocate dedicated routes at the Al-Nuwaiseeb and Al-Khafji border crossings for joint operations personnel, including the opening of a new lane and the provision of technical infrastructure, which has facilitated staff mobility and eased logistical challenges.

Officials further reviewed development and investment plans for onshore and offshore fields, emphasizing the need to accelerate implementation and provide full support for engineering and technical works.

Sheikh Nimer Al-Sabah stressed the importance of holding regular committee meetings to monitor petroleum operations, address challenges, and advance strategic projects. He praised the close cooperation between Kuwait’s Ministry of Oil and Saudi Arabia’s Ministry of Energy, as well as joint operations involving the Kuwait Gulf Oil Company, Aramco Gulf Operations Company, and Chevron Saudi Arabia.

Business

Saudi Private Sector Commissions International Firm to Improve Cost Efficiency 

Officials meet at the headquarters of the Federation of Saudi Chambers in Riyadh. (Asharq Al-Awsat)
Officials meet at the headquarters of the Federation of Saudi Chambers in Riyadh. (Asharq Al-Awsat)
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Saudi Private Sector Commissions International Firm to Improve Cost Efficiency 

Officials meet at the headquarters of the Federation of Saudi Chambers in Riyadh. (Asharq Al-Awsat)
Officials meet at the headquarters of the Federation of Saudi Chambers in Riyadh. (Asharq Al-Awsat)

The Saudi private sector has commissioned an international consulting firm to conduct a comprehensive study on the business environment and rising operating costs faced by commercial enterprises, sources told Asharq Al-Awsat.

The move aims to identify practical solutions to curb rising financial burdens on companies operating in the Kingdom.

According to the sources, the study will analyze key challenges in the business landscape stemming from higher operating expenses, which are increasingly affecting the sustainability and competitiveness of businesses in both domestic and international markets.

The Federation of Saudi Chambers (FSC) is expected to share the study’s findings with relevant authorities to support the development of more effective future policies.

The federation has called on all chambers of commerce to contribute to the cost of the study, underscoring its importance in supporting implementation and maximizing its impact on the commercial sector and member interests.

Since the launch of Vision 2030, the Saudi government has implemented wide-ranging reforms and introduced amendments to legislation, regulations, and policies. These efforts aim to identify and address obstacles facing the private sector.

Ministers and senior officials regularly meet with business leaders at the Federation of Saudi Chambers to outline government strategies and discuss the most pressing challenges confronting the private sector.

The federation works systematically to identify barriers through meetings and workshops designed to strengthen communication with government entities and facilitate problem-solving.

Vision 2030 underscores coordination among government bodies and national programs to enhance service quality for companies, improve the business environment, unlock underutilized economic sectors, and attract foreign investment.

The strategy highlights the importance of collaboration among the public, private, and non-profit sectors, as well as international partners, to achieve its objectives.

With a “thriving economy” as one of its three core pillars, Vision 2030 focuses on economic diversification, strengthening local content, and fostering innovative opportunities through an investment-friendly environment for both domestic and foreign investors.

Business

Iraq’s Oil Exports Hit 107.65 Million Barrels in December

An Iraqi flag is seen in front of oilfields (Reuters) 
An Iraqi flag is seen in front of oilfields (Reuters) 
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Iraq’s Oil Exports Hit 107.65 Million Barrels in December

An Iraqi flag is seen in front of oilfields (Reuters) 
An Iraqi flag is seen in front of oilfields (Reuters) 

Iraq's total oil exports were estimated at 107.65 million barrels in December, the Iraqi Ministry of Oil said on Sunday.

The Ministry said the oil exported from the Kurdistan Region via the Turkish port of Ceyhan was 5,997,527 barrels.

Iraq will ‍export ‍a total of 223,000 barrels per day (bpd) in ⁠February, up by 21% ⁠on the month, loading ‌programs seen by Reuters show.

January ⁠exports were scheduled at 184,000 bpd. Of the February cargoes, ⁠eight will be exported from Türkiye’s Ceyhan terminal, and ‍three will be delivered via the Kirikkale pipeline to Turkish refiner Tupras.

Kirkuk oil pipeline flows to Ceyhan restarted in late September after a two-and-a-half-year hiatus, with the ⁠first exports taking ‌place last October.