Advanced Strategic Partnership between London, Riyadh in Clean Energy, Climate

UK Special Representative for Climate Rachel Kyte during her visit to Riyadh. (Asharq Al-Awsat)
UK Special Representative for Climate Rachel Kyte during her visit to Riyadh. (Asharq Al-Awsat)
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Advanced Strategic Partnership between London, Riyadh in Clean Energy, Climate

UK Special Representative for Climate Rachel Kyte during her visit to Riyadh. (Asharq Al-Awsat)
UK Special Representative for Climate Rachel Kyte during her visit to Riyadh. (Asharq Al-Awsat)

Relations between Saudi Arabia and the UK have witnessed a qualitative leap in cooperation in climate and clean energy. The trade exchange between them has reached £16 billion and new partnerships worth more than £1.2 billion have been launched in clean energy alone.

UK Special Representative for Climate Rachel Kyte stressed that London and Riyadh have come a long way in bolstering the strategic partnership in environment and climate technologies.

In remarks to Asharq Al-Awsat, she said: “The UK Government made a commitment to climate leadership when it was elected last summer, and we are working to broaden and deepen our partnership with a number of countries on clean energy and tackling climate change.”

“The UK sees Saudi Arabia as an obvious partner in these efforts, given the Kingdom’s deep investment in clean energy solutions and in building resilience both here in Saudi Arabia and across the world,” she stated.

“The opportunities for clean growth between our two countries are immense. UK businesses are already aware of the potential in Saudi Arabia, and Saudi investors are taking advantage of the UK’s net zero economy, which is growing three times faster than the wider economy,” she went on to say.

“In terms of investment, the numbers speak for themselves. In 2024, bilateral trade topped £16 billion, and during Prime Minister Keir Starmer’s visit last December, new clean energy partnerships worth over £1.2 billion were announced,” she added.

Moreover, Kyte said that a “key area of partnership for the UK and Saudi Arabia is the clean cooking agreement we signed back in February. The visit has allowed the UK to explore how Saudi Arabia is rolling out its clean cooking projects, how these efforts align with broader international climate finance goals and to deepen our dialogue on these issues.”

She highlighted Saudi Arabia’s Forward 7 initiative, which she said has the potential to be transformative in closing the clean cooking gap and achieving Sustainable Development Goal 7 by 2030, ensuring access to affordable, reliable, sustainable and modern energy for all.

Additionally, the UK signed a £3.5 million co-financing agreement with the Islamic Development Bank to improve access to clean energy, boost agricultural productivity, and promote green technologies in Jordan and Yemen, continued Kyte. These are countries facing unique challenges - Jordan as a major refugee host, and Yemen as one of the most fragile states globally.

Furthermore, she said Saudi Arabia’s commitment to invest 2.5% of GDP in research and development by 2040 “opens up exciting avenues for UK universities and companies to collaborate on climate innovation. Together, we’re turning shared priorities into real-world impact, supporting communities, advancing technology, and accelerating progress toward our climate goals.”

“Climate change is one of the defining challenges of our time, with far-reaching environmental, social, and economic consequences. From rising temperatures and extreme weather to biodiversity loss and water insecurity, communities everywhere are feeling the impact. No country is immune,” she stressed.

“One of the most immediate threats is extreme heat, an issue I care deeply about. Recent summers have shattered temperature records across Europe, the US, India, and the Middle East. In Europe alone, heat is now the leading cause of climate-related deaths – an estimated 175,000 lives lost annually. These events underscore the urgency of action and the need to protect vulnerable populations,” she told Asharq Al-Awsat.

Despite the challenges, Kyte said the world is moving on the solutions to this crisis, through action on clean energy and resilience, because countries can see it is in their national interest. Rapid cost falls are driving clean energy deployment globally – as others embrace it as a route to energy security, good jobs and growth. “This is the investment story of the century, with $2 trillion invested in clean energy last year.”

“Thanks to these shifts and the power of multilateralism, we are making progress on climate action. We need to go further and faster, but we must not overlook the progress we’ve made,” Kyte said.



TotalEnergies to Honor All LNG Contracts Despite Qatar Outages

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
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TotalEnergies to Honor All LNG Contracts Despite Qatar Outages

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo

TotalEnergies' CEO Patrick Pouyanne said on Thursday that the company made a decision not to declare force majeure to any of its liquefied natural gas customers, and that it would respect all the LNG contracts in terms of price and ⁠volume.

Qatar, the world's biggest ⁠LNG producer, has declared force majeure on all of its LNG output after being attacked as part of the US-Israeli war with Iran.

"We said to our customers we will ⁠not invoke force majeure and not deliver the gas... We want to be security of supply for our customers," Pouyanne said.

"Yes, we'll miss energy coming from Qatar and Abu Dhabi, but our portfolio is large enough to redirect part of it," he added, according to Reuters.

Analysts estimate TotalEnergies takes 5.2 million metric tons per annum (mtpa) from ⁠its ⁠share of the QatarEnergy LNG trains.

Sources have said Shell, the world's biggest LNG trader, had declared force majeure on cargoes it buys from QatarEnergy and sells on. Analysts estimate Shell takes 6.8 mtpa of Qatari LNG.

Pouyanne also said that the current energy crisis makes renewables more attractive as they are not subject to the volatility from geopolitical instability.


India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
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India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)

India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption in shipments from the Middle East, the oil ministry said in a statement on Thursday.

India, the world's third biggest oil consumer and importer, was buying over 40% of its oil imports from the Middle East. Those supplies are disrupted due to the US-Israeli war on Iran.

Higher availability of crude in global markets, mainly from the Western hemisphere, has helped offset the shortfall, the government said.

Taking advantage of a temporary US waiver, Indian refiners have also ramped up purchases of Russian crude, securing millions of barrels to fill the supply gap.

"Despite the situation at the Strait of Hormuz, India is today receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait," the ministry said.

As a net exporter of petroleum products, India’s domestic availability of petrol and diesel remains structurally secure, the government said.

The world's fourth-largest refiner has oil and fuel stocks sufficient to meet 60 days of demand, against a total storage capacity of 74 days, it added.

"Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next two months of crude procurement have also been secured," it added.

India has asked refiners to maximize production of liquefied petroleum gas, used as cooking fuel, as the nation was buying 90% of its LPG imports from the Middle East.

Domestic daily LPG production has been increased by 40% to 50,000 metric tons against a requirement of 80,000 tons, it said.

In addition, Indian companies have secured 800,000 tons of LPG cargoes from the United States, Russia, Australia, and other countries, it said.

These shipments, arriving across India's 22 LPG import terminals, provide roughly one month of assured supply, with further procurement underway, the government said.


SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services
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SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services

The Saudi Central Bank (SAMA) announced the licensing of “Altknwlwjya aljadydh llhulul albrmjyh” and “lyn tknwlwjyz Company Saudi Arabia litqniyat nuzum almaelumat” to conduct payment services by providing account information—one of the services associated with open banking.

The licenses were granted following the successful completion of the regulatory sandbox phase under SAMA’s supervision.

The decision reflects SAMA’s ongoing efforts to support and enable the financial sector, enhance the efficiency and flexibility of financial transactions, and promote innovation in financial services. This aims to advancing financial inclusion and expanding access to financial services across all segments of society.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.