Saudi Project to Prepare Executive Guidelines to Rationalize Sustainable Energy

Saudi Shura Council
Saudi Shura Council
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Saudi Project to Prepare Executive Guidelines to Rationalize Sustainable Energy

Saudi Shura Council
Saudi Shura Council

Saudi Arabia is currently working on enhancing energy efficiency through a huge project to prepare executive guidelines to implement the directives and principles of rationalizing sustainable energy.

This step aims at bolstering the Kingdom’s strategic approach to control energy use and ensure its sustainability in accordance with its Vision 2030.

The Saudi Shura Council has reviewed with officials of the Saudi Energy Efficiency Center the developments of the project in cooperation with specialists from the Ministry of Municipal and Rural Affairs.

The Council’s Economic and Energy Committee held a meeting on Friday to review the annual report of the Saudi Energy Efficiency Center.

The videoconference was chaired by Dr. Faisal al-Fadel and attended by the Center’s President, Nasser al-Ghamdi, and a number of officials.

They discussed the executive and administrative obstacles and challenges facing the Center and the most prominent solutions to overcome the difficulties in order to improve its achievements.

Discussions stressed on means to localize technologies and use digital technology to boost energy efficiency in the Kingdom.

They highlighted the role of digital technology in modernizing energy efficiency and increasing its value, in addition to removing regulatory barriers to innovation and improving access to energy-related data, while ensuring equitable access to digital technology and infrastructure.

The Committee is one of the Shura Council’s several specialized committees with a focus on energy consumption, rationalization of power, and innovation in the sector.

Separately, the Saudi Ministry of Commerce and Investment revealed on Saturday that it has licensed 3.4 thousand shops and stores to announce discounts for commercial establishments and e-stores on the occasion of the Kingdom's National Day during the period from Sep.22 till 24.

These included more than 1.7 million food and consumer products displayed at commercial and e-sales outlets in the Kingdom’s various regions.

Electrical and electronic devices, clothes, and other commodities and other products topped the list of the most discounted commodities.

According to a statement on Saturday, the Ministry’s monitoring teams launched 497 commercial reports about discount violations received by the Consumer Reports Center.

Regulatory measures were taken in accordance with the Anti-Commercial Fraud Law, the statement affirmed.



Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
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Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER

War risk insurance premiums for shipments to the Middle East Gulf have jumped to 0.5% from around 0.2-0.3% a week ago after US airstrikes on Iran’s nuclear facilities and growing risks to the critical Strait of Hormuz, insurance sources said on Monday.

The cost of a seven-day voyage is based on the value of the ship and the increase will add tens of thousands of dollars each day in additional costs.

While underwriters typically price risk and rates individually, the current 0.5% level reflected rates on Monday, the sources told Reuters and The Insurer, which is part of the Thomson Reuters group.