Layla: First Solar Project of its Kind in Saudi Arabia

TAQNIA ENERGY completes work in the first phase of the Layla Solar Power Plant.
TAQNIA ENERGY completes work in the first phase of the Layla Solar Power Plant.
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Layla: First Solar Project of its Kind in Saudi Arabia

TAQNIA ENERGY completes work in the first phase of the Layla Solar Power Plant.
TAQNIA ENERGY completes work in the first phase of the Layla Solar Power Plant.

TAQNIA ENERGY announced the completion of work in the first phase of the Layla Solar Power Plant, extending across 720,000 square meters with a production capacity of 10 megawatts.

It is the first independent energy production station that operates on solar energy and is directly linked to the electric grid. The project can cover 10 percent of the province needs in Al-Aflaj, 300 kilometers south of Riyadh.

Waleed al-Helayel, Head of the Layla Project, expressed delight that the first phase has been finalized.

“The completion of works in such a project is a source of pride to us all, especially that it coincides with Saudi Arabia witnessing a prominent international presence in all fields,” he stated.

Helayel continued that the Kingdom has always been active and clear in its quest to diversify energy sources and support renewable energy through exploiting local resources.

The project will provide Aflaj with its total production capacity, promises to cut down CO2 emitted from traditional sources of energy and therefore increase opportunities to protect the environment.

The Layla project is the result of joint efforts and a deal between TAQNIA ENERGY - a subsidiary of the Saudi Technology Development and Investment Company (Taqnia)- and King Abdulaziz City for Science and Technology, and the Saudi Electricity Company.



Oil Prices Held Down by Trump Tariff Uncertainty

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)
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Oil Prices Held Down by Trump Tariff Uncertainty

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)

Oil prices were little changed on Thursday, maintaining almost all of the previous session's losses on uncertainty over how US President Donald Trump's proposed tariffs and energy policies would affect global economic growth and energy demand.

Brent crude futures were up 18 cents at $79.18 a barrel by 1315 GMT. US West Texas Intermediate crude (WTI) rose 14 cents to $75.58.

"Oil markets have given back some recent gains due to mixed drivers," said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.

"Key factors include expectations of increased US production under President Trump's pro-drilling policies and easing geopolitical stress in Gaza, lifting fears of further escalation in supply disruption from key producing regions."

The broader economic implications of US tariffs could further dampen global oil demand growth, she added, Reuters reported.

Trump has said he would add new tariffs to his sanctions threat against Russia if the country does not make a deal to end its war in Ukraine.

He also vowed to hit the European Union with tariffs and impose 25% tariffs against Canada and Mexico. On China, Trump said his administration was discussing a 10% punitive duty because fentanyl is being sent from there to the United States.

On Monday he declared a national energy emergency intended to provide him with the authority to reduce environmental restrictions on energy infrastructure and projects and ease permitting for new transmission and pipeline infrastructure.

There will be "more potential downward choppy movement in the oil market in the near term due to the Trump administration's lack of clarity on trade tariffs policy and impending higher oil supplies from the US", OANDA senior market analyst Kelvin Wong said in an email.

On the US oil inventory front, crude stocks rose by 958,000 barrels in the week ended Jan. 17, according to sources citing American Petroleum Institute figures on Wednesday.

Gasoline inventories rose by 3.23 million barrels and distillate stocks climbed by 1.88 million barrels, they said.