Saudi Roadmap to Build World’s Largest Park

King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)
King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)
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Saudi Roadmap to Build World’s Largest Park

King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)
King Salman Park in the center of the Saudi capital (Asharq Al-Awsat)

At a time when Riyadh’s green strategy is in full swing, an official source at the King Salman Park Foundation confirmed that efforts are underway to transform the proposed large-scale public park and urban district in Riyadh into a tangible reality.

Director of Public Relations and Marketing at the King Salman Park Foundation Faisal Al-Majed revealed that a road map for operational work is currently being carried out.

According to Al-Majed, the Foundation’s participation at Riyadh’s International Exhibition and Forum on Afforestation Technologies, which was held from May 29-31, confirms its commitment to planting one million trees.

Al-Majed noted that the Forum had advanced efforts on exchanging research and expertise and contributed to launching a scientific study that can map out the implementation of the park project.

Speaking to Asharq Al-Awsat, Al-Majed confirmed that the Foundation will work to re-engineer the park’s soil to prepare it for planting.

Soil re-engineering includes adding more than one layer of soil and microorganisms.

Moreover, it also incorporates increasing the level of nitrogen to increase fertility.

The Green Riyadh project alone will see 7.5 million trees planted across the capital, and will contribute to an increase in per capita green space.

Al-Majed noted that gains from such projects include boosting biodiversity, whether in birds, insects, or the green environment of the city of Riyadh.

He also pointed out that King Salman Park Foundation is one of the four major projects launched by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz in March 2019.

King Salman Park is built on more than 16km2 to become the largest urban park in the world offering a wide range of options and quality activities for the city's residents and visitors.

The Park will contribute significantly to increasing the vegetation in the region and raising the rate of per capita green spaces, which will have a direct and positive impact on the quality of the environment and the climate.



Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
TT

Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.
Brent crude futures gained 10 cents, or 0.1%, to $74.33 a barrel by 0448 GMT. US West Texas Intermediate crude futures rose 13 cents, or 0.2%, to $70.23 per barrel.
Both contracts jumped 2% on Thursday and are set to cap gains of more than 4% this week, the strongest weekly performance since late September, as Moscow stepped up its offensive against Ukraine after the US and Britain allowed Kyiv to strike Russia with their weapons.
Putin said on Thursday it had fired a ballistic missile at Ukraine and warned of a global conflict, raising the risk of oil supply disruption from one of the world's largest producers.
Russia this month said it produced about 9 million barrels of oil a day, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Swelling US crude and gasoline stocks and forecasts of surplus supply next year limited price gains.
"Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and shale supply limiting price downside," Goldman Sachs analysts led by Daan Struyven said in a note.
"However, the risks of breaking out are growing," they said, adding that Brent could rise to about $85 a barrel in the first half of 2025 if Iran supply drops by 1 million barrels per day on tighter sanctions enforcement under US President-elect Donald Trump's administration.
Some analysts forecast another jump in US oil inventories in next week's data.
"We will be expecting a rebound in production as well as US refinery activity next week that will carry negative implications for both crude and key products," said Jim Ritterbusch of Ritterbusch and Associates in Florida.
The world's top crude importer, China, meanwhile on Thursday announced policy measures to boost trade, including support for energy product imports, amid worries over Trump's threats to impose tariffs.