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Saudi Arabia Fit to Produce Carbon-Neutral Oil

Saudi Arabia Fit to Produce Carbon-Neutral Oil
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Saudi Arabia Fit to Produce Carbon-Neutral Oil

Saudi Arabia Fit to Produce Carbon-Neutral Oil

A recently published research paper revealed that Saudi Arabia has a competitive edge when it comes to producing carbon-neutral oil.

This enables the Kingdom to proceed with comprehensive applications of carbon capture, use, and storage for future transition to carbon-free oil production, while it can recycle carbon by-products into beneficial chemicals that can be utilized and marketed for use in multiple energy purposes.

Published by the King Abdullah Petroleum Studies and Research Center (KAPSARC), the paper reveals that Saudi Arabia is currently working towards achieving a circular economy.

The paper discussed ways to coordinate initiatives of Kingdom Vision 2030 in order to achieve green growth in the Kingdom, which means increasing the GDP and continuing economic growth in parallel to cutting carbon dioxide emissions.

Saudi Arabia, according to the paper, produces the world’s lowest carbon levels per oil barrel and this gives the Kingdom a competitive edge in the future transition to producing carbon-neutral oil.

The paper stated that the Kingdom has an opportunity to become a major supplier of basic low-carbon petrochemicals as well as high-value chemicals by increasing the use of renewable energy and improving the efficiency of the refining, processing, and marketing industries in the petrochemical industry.

Titled “Green Growth Paths in The Kingdom,” the paper presented nine policies that promote green growth in Saudi Arabia.

The paper notes that the Kingdom's 2030 vision encourages green growth through its strategic goals, which include building new cities, developing national industry and logistic services, and upgrading digital technologies to enhance trade and local content by focusing on industry, mining, energy, and logistical services.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.