Saudi Agencies Sign Framework Agreement for Cloud Computing

Aerial view of Riyadh, Saudi Arabia (File photo: AP)
Aerial view of Riyadh, Saudi Arabia (File photo: AP)
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Saudi Agencies Sign Framework Agreement for Cloud Computing

Aerial view of Riyadh, Saudi Arabia (File photo: AP)
Aerial view of Riyadh, Saudi Arabia (File photo: AP)

The Saudi Digital Government Authority (DGA) launched a framework agreement to provide cloud computing services for Saudi government agencies through the "Etimad" platform.

The adoption of the platform provides many services to various government agencies and enhances the partnership with the private sector.

It also helps achieve the development goals of the Kingdom, enables the digital transformation of those services, increases transparency and efficiency, and facilitates providing services.

The framework agreement aims to contribute to the digital transformation in the Kingdom, unify product specifications and standards, increase the contribution of the private sector, and create a competitive environment.

The agreement aims to develop local content, rationalize consumption, raise the efficiency of digital purchases, speed up its procedures, and increase the quality and effectiveness of products.

The agreement includes several cloud computing infrastructure services: random memory, virtual CPU and storage, and backup.

DGA Governor Ahmed al-Suwayan said that the framework agreement supports government digital transformation programs and partnerships with the private sector.

The Authority recently announced the regulatory framework of the digital government policy.

At the ceremony, Suwayan stressed that the government platforms achieved digital excellence and concerted efforts through joint work and integration between various digital media.

He indicated that this step supports the regulation and governance of digital services business and improves beneficiaries' experience through a system of digital government services. It also contributes to integration between government agencies and strengthens cooperation.

The Governor announced that digital government policy enables and accelerates the sustainable digital transformation of the public sector in the medium and long term.

The policy aims to create a comprehensive government system that focuses on the beneficiaries, including citizens, residents, and visitors, and facilitate the digital transformation of the public sector by enhancing its capabilities.

The "Governance Digital Platform... Orientation and Impact" session was held during the ceremony to discuss the government's approach, perspectives, and platforms.

The Governor handed over the platforms' registration certificates to the entities that responded to the Authority's circular, including Absher, Etimad, Ejar, Balady, Tawakkalna, Sakani, Sehaty, Qiwa, Madrasati, and Najiz.

The Authority is the national reference and competent entity for digital governance in the Kingdom.

It aims to direct national efforts to harmonize government procedures, achieve optimal investment for existing assets, improve operational efficiency, and enhance the experience of government beneficiaries and digital service providers.



Oil in Spotlight as Trump's Iran Warning Rattles Sleepy Markets

FILE - In this Oct. 21, 2013, file photo, smoke billows from an oil refinery in Kawasaki, southwest of Tokyo. (AP Photo/Koji Sasahara, File)
FILE - In this Oct. 21, 2013, file photo, smoke billows from an oil refinery in Kawasaki, southwest of Tokyo. (AP Photo/Koji Sasahara, File)
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Oil in Spotlight as Trump's Iran Warning Rattles Sleepy Markets

FILE - In this Oct. 21, 2013, file photo, smoke billows from an oil refinery in Kawasaki, southwest of Tokyo. (AP Photo/Koji Sasahara, File)
FILE - In this Oct. 21, 2013, file photo, smoke billows from an oil refinery in Kawasaki, southwest of Tokyo. (AP Photo/Koji Sasahara, File)

Oil prices stabilized on Tuesday as investors assessed supply disruption risks after Iran conducted naval exercises near the Strait of Hormuz ahead of nuclear talks with the United States later in the day.

US President Donald Trump said on Monday that he would participate "indirectly" in the Geneva talks, adding that he believed Tehran wanted to reach an agreement. Trump said at the end of the week that regime change in Iran would be the "best thing that could happen."

Brent crude futures fell 0.2 percent to $68.59 a barrel by 01:06 GMT, after rising 1.3 percent on Monday.

US West Texas Intermediate crude was at $63.73 a barrel, up 84 cents, or 1.34 percent, but that gain incorporated all price movement on Monday, as the contract was not settled that day due to the US Presidents Day holiday.

Many markets were closed on Tuesday for the Lunar New Year, including China, Hong Kong, Taiwan, South Korea and Singapore.

"The market remains jittery amid ongoing geopolitical uncertainty," Daniel Hynes, an analyst at ANZ Bank, said in a research note.

He added: "Should tensions in the Middle East ease, or tangible progress be made on the Ukrainian situation, the risk premium currently embedded in oil prices may quickly dissipate. However, any negative outcome or further escalation could be positive for oil prices."

Iran began military exercises on Monday in the Strait of Hormuz, a vital international waterway and a major oil export route from Gulf countries, which have called for diplomacy to end the conflict.

Meanwhile, Citigroup said that if Russian supply disruptions continue to keep Brent crude within a range of $65 to $70 a barrel in the coming months, OPEC+ is likely to respond by increasing production from spare capacity.

Three sources in OPEC+ said the organization is inclined to resume increasing oil production from April, as the group prepares for peak summer demand, and higher prices are reinforced by tensions over US-Iranian relations.

"We expect, in the base case, that two oil deals will be reached, one with Iran and the other with Russia and Ukraine, by or during the summer of this year, which will contribute to a decline in prices to $60-62 a barrel of Brent," Citigroup said.


Greece… Chevron’s Gateway to Strengthening Europe’s Energy Security

The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)
The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)
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Greece… Chevron’s Gateway to Strengthening Europe’s Energy Security

The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)
The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)

A consortium led by US oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States' presence in the eastern Mediterranean. The deal doubles the amount of Greek maritime acreage available for exploration and is the second in months involving a US energy major as the European Union seeks to phase out supplies from Russia and the US seeks ‌to replace them.

Exxon ‌Mobil in November joined Energean and Helleniq to search ‌for ⁠gas in another ⁠offshore block in Western Greece. Monday's agreement allows Chevron - which also plans to expand production in Israel - to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete, stretching across 47,000 square kilometers (18,147 square miles). It follows Chevron and Helleniq Energy, Greece's biggest oil refiner, last year winning an international tender.

GREECE SEEKS TO BE A GATEWAY FOR US GAS

Greece, which ⁠has no gas production and relies on gas imports ‌for power generation and domestic consumption, has revived ‌its quest for gas exploration after a 2022 energy price shock driven by Russia's ‌invasion of Ukraine. It also aims to be a gateway for US ‌liquefied natural gas transported via the Vertical Gas Corridor, a route that carries gas from Greece to central Europe and Ukraine. US Ambassador to Greece Kimberly Guilfoyle said US LNG flowing through Greece had strengthened the alliance between the United States and Europe.

"It redraws, ‌quite simply, the energy map of Europe, creating a durable alternative to Russian gas not just for one season ⁠but for generations ⁠to come," Guilfoyle said during a presentation of the contracts in Athens. The European Union is building renewables capacity to cut greenhouse emissions, but has acknowledged the need for natural gas as a transition fuel to help stabilize the grid when intermittent wind and solar energy are not available.

The Greek parliament will need to approve the lease contracts before the Chevron-led consortium can start seismic research later this year. Greece has said the consortium has up to five years to locate potential recoverable deposits and any test drilling would not take place before 2030-2032.


Saudi Industry Minister Inaugurates Advanced Factories in Sudair 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and officials are seen at the inauguration of one of the facilities. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and officials are seen at the inauguration of one of the facilities. (SPA)
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Saudi Industry Minister Inaugurates Advanced Factories in Sudair 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and officials are seen at the inauguration of one of the facilities. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and officials are seen at the inauguration of one of the facilities. (SPA)

Saudi Minister of Industry and Mineral Resources and Saudi Authority for Industrial Cities and Technology Zones (MODON) Board Chair Bandar Alkhorayef inaugurated on Monday several advanced factories to produce food, pharmaceuticals, medical equipment, and construction materials in Sudair City for Industry and Businesses.

The move is part of the ministry’s efforts to localize high-value industries and boost the Kingdom’s health and food security.

The minister inaugurated the Sierra Life factory, the first facility in the Middle East specialized in producing medical foods for metabolic disorders.

The strategic investment aims to localize advanced therapeutic food production and achieve integration between the industrial and healthcare sectors to meet medical needs that previously relied heavily on imports.

Alkhorayef also inaugurated the Sudair Warehouses project, which is an important step in developing logistics and industrial infrastructure.

The project reflects the industrial sector’s commitment to supporting industrial investors, stimulating high-value investments, and enabling national supply chains, thereby contributing to the achievement of Saudi Vision 2030 objectives.