5 Saudi Cities Replace 200,000 Streetlamps

A night view of Riyadh, Saudi Arabia. (AP)
A night view of Riyadh, Saudi Arabia. (AP)
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5 Saudi Cities Replace 200,000 Streetlamps

A night view of Riyadh, Saudi Arabia. (AP)
A night view of Riyadh, Saudi Arabia. (AP)

Five Saudi cities have started replacing 200,000 streetlamps aiming at reducing energy consumption by 77 percent.

The National Energy Services Company (Tarshid) has kicked off the second phase of the streetlights renovation program in Saudi cities, including Dammam, Khobar, Dhahran, Al Ahsa and Sakakah.

Tarshid said in a statement Monday that the expected energy saving in the first phase of the project in those cities is 70 to 77 percent of electricity consumption, amounting to 314,052,541 kWh. This will be achieved by installing around 216,700 LED lamps, considered more rationalizing than traditional lamps. LED lamps save around 241,257,257 kWh/y with a better efficiency.

According to the contract signed by Tarshid and the managements of those regions, 70,000 LED lamps will be installed in Dammam, 42,000 in Khobar and Dhahran, 74,000 in Al Ahsa, and 31,000 Sakakah, as part of the streetlights renovation program that debuted in Riyadh.

The company seeks to renovate over two million lamps in the streets in the coming period, by installing rationalizing lamps based on technical studies and global standards adopted in the energy efficiency field.

Tarshid said these projects come as part of Saudi Arabia's plan to reduce electricity consumption by raising energy efficiency in the public sector. The total energy consumption in the public sector is 38.5 GWh, up to 13 percent of the overall consumption in the Kingdom.

As per the coming projects, Tarshid revealed that preparations are ongoing to launch the third phase of the lamps replacement project in more cities, including Jeddah, Al-Qassim, Riyadh, and some provinces in Al-Jawf region in February.

The total renovated lamps in Saudi Arabia are set to reach 500,000 after the completion of these projects.



Oil Prices Rise 1% as Mideast Attacks Heighten Supply Concerns

This picture taken from the area of Dbayeh north of Beirut shows an oil tanker docked off the coast of Beirut on October 24, 2024 amid the ongoing war between Israel and Hezbollah. (Photo by Joseph EID / AFP)
This picture taken from the area of Dbayeh north of Beirut shows an oil tanker docked off the coast of Beirut on October 24, 2024 amid the ongoing war between Israel and Hezbollah. (Photo by Joseph EID / AFP)
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Oil Prices Rise 1% as Mideast Attacks Heighten Supply Concerns

This picture taken from the area of Dbayeh north of Beirut shows an oil tanker docked off the coast of Beirut on October 24, 2024 amid the ongoing war between Israel and Hezbollah. (Photo by Joseph EID / AFP)
This picture taken from the area of Dbayeh north of Beirut shows an oil tanker docked off the coast of Beirut on October 24, 2024 amid the ongoing war between Israel and Hezbollah. (Photo by Joseph EID / AFP)

Oil prices rose more than 1% on Thursday, reversing some of the previous session's losses, as the Middle East conflict and reports of North Korean troops ready to help Russia in Ukraine kept traders on edge ahead of the US presidential election.

Brent crude futures were up $1.26, or 1.7%, to $76.22 a barrel as of 0905 GMT. US West Texas Intermediate crude futures climbed $1.26, or 1.8%, to $72.03, Reuters reported.

Oil prices have gained about 4% this week after shedding more than 7% last week on concerns of oversupply and weak demand and a perceived calming of Middle East tensions.

"The opposing forces of economic anxiety, loose oil balance and potential war-related supply disruptions will ensure that no clear oil price direction emerges in the immediate future whilst the risk remains skewed to the downside in the medium term," said Tamas Varga of oil broker PVM.

On Wednesday, the US said for the first time it had seen evidence North Korea has sent 3,000 troops to Russia for possible deployment in Ukraine, a move that could mark a significant escalation in Russia's war against its neighbor.

In the Middle East, an exchange of heavy fire between Israel and Hezbollah heightened supply concerns, as Israeli strikes also hit the Syrian capital Damascus early on Thursday, Syrian state media reported.

That escalation comes as Washington makes a push for peace between Israel and Iran-backed groups Hezbollah and Hamas before the Nov. 5 US presidential election that could alter both its Middle East and oil policy.

"Trump is leading over (Kamala) Harris based on current data from betting markets and Trump has proposed making the US a major oil supplier," said OANDA senior market analyst Kelvin Wong, adding that could depress prices.

While betting markets put Trump ahead, other polls show the result is currently too close to call.