Red Sea Development Company Produces Sustainable Seafood from Sunlight

The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)
The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)
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Red Sea Development Company Produces Sustainable Seafood from Sunlight

The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)
The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)

The Red Sea Development Company (TRSDC) announced a solution proposed to produce sustainable seafood and algae in a desert environment.

TRSDC strives to explore innovative technology solutions in response to growing consumer demand for sustainable protein during their travel experiences and support regenerative ambitions.

CEO Joe Pagano indicated that this project would set a new global standard in sustainable, multitrophic desert aquaculture where the company can turn sunlight into seafood.

“The [LARA] system has a minimal environmental footprint and will aid in carbon sequestration for our flagship destination as well as future projects on the Red Sea coast in alignment with the company’s aspiration to achieve 100 percent carbon neutrality,” added Pagano.

The project is done in collaboration with Blue Planet Ecosystems (BPE).

The Land-based Automated Recirculating Aquaculture (LARA) system works by replicating natural aquatic ecosystems in a modular and automated system.

LARA converts CO2 directly into chemical-free seafood using phyto and zooplankton as transitional stages. It is constructed of a tower of three horizontal units.

Pagano explained that the top unit uses the sun’s energy to grow microalgae which powers the entire system. The microalgae are then moved to the subsequent division down, where it nourishes zooplankton. The zooplankton is then transported to the bottom unit, where fish eat it.



Saudi Aramco CEO: Oil Demand to Remain Resilient Despite Recent Upheaval 

Saudi Aramco CEO Amin Nasser speaks at an event in Houston. (AFP file)
Saudi Aramco CEO Amin Nasser speaks at an event in Houston. (AFP file)
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Saudi Aramco CEO: Oil Demand to Remain Resilient Despite Recent Upheaval 

Saudi Aramco CEO Amin Nasser speaks at an event in Houston. (AFP file)
Saudi Aramco CEO Amin Nasser speaks at an event in Houston. (AFP file)

Saudi oil giant Aramco expects oil demand to remain resilient this year and sees further upside if the US and China successfully resolve their trade dispute.

Washington and Beijing agreed to temporarily slash reciprocal tariffs earlier on Monday, in a deal that surpassed expectations as the world's two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.

"We expect demand will continue to be steady and growing compared to 2024, and if the whole issue around tariffs is resolved... that also will add to additional demand that will be seen from the market," Aramco CEO Amin Nasser said in a post-earnings conference call on Monday.

Aramco, the world's top oil exporter, reported posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year.

Aramco had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year.

Meanwhile, the OPEC+ group surprised markets in April by agreeing to a larger-than-expected output hike for May.

Saudi Aramco said the additional production could add potentially $1.9 billion in annual operating cash flow.

"Currently, it is premature to assess the full impact of trade negotiations, as there are many moving parts," Nasser said, but added that Aramco is well positioned thanks to its healthy financial position and flexible capital.