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Saudi Arabia Issues 3 Ministerial Decisions to Organize Types of Work

Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi participates in a panel discussion within the activities of the Riyadh Economic Forum on Tuesday. (Asharq Al-Awsat)
Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi participates in a panel discussion within the activities of the Riyadh Economic Forum on Tuesday. (Asharq Al-Awsat)
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Saudi Arabia Issues 3 Ministerial Decisions to Organize Types of Work

Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi participates in a panel discussion within the activities of the Riyadh Economic Forum on Tuesday. (Asharq Al-Awsat)
Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi participates in a panel discussion within the activities of the Riyadh Economic Forum on Tuesday. (Asharq Al-Awsat)

Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi announced three ministerial decisions to organize work types, as well as ongoing preparations for a project to review the legislations in force.

He noted that more than 2.2 million Saudi male and female citizens currently work in the private sector - the highest number in history, revealing that women’s economic participation has reached 35.6 percent this year, compared to 17.7 percent before the adoption of Vision 2030.

During a session on “the prospects and challenges of the new field of work — freelance work, flexible work and remote work” organized as part of the activities of the 10th edition of Riyadh Economic Forum, Al-Rajhi said that the ministry targets to announce 11 decisions on localization before the end of 2022.

He added that the employers’ rate of compliance with the Saudi Nationalization Scheme (Saudization) has reached 98 percent, while compliance with the Wage Protection Program was about 80 percent.

The Saudi minister pointed to the establishment of the Future Work Company in the fourth quarter of 2019, which seeks to link the private sector with individuals in the market and empower young men and women and develop their skills. The project is part of the ministry’s endeavor to organize and stimulate the freelancing sector in the Kingdom, he underlined.

According to Al-Rajhi, the average economic value of self-employment in the Kingdom is estimated at SR7.4 billion in 2021.

He noted that the ministry issued three organizational decisions for different types of work, and was currently working on a project to review legislation.

Meanwhile, Engineer Saleh Al-Jasser, Minister of Transport and Logistics Services, chaired a panel discussion on a study to link the Saudi regions with railways and evaluate its impact on the tourism and logistics services.

Al-Jasser pointed to the importance of the study, as it aligns with the national strategy for transport and logistics.

The discussion, which was held within the activities of the Riyadh Economic Forum, focused on ways to benefit from achieving the objectives of the general strategy for public transport and Vision 2030, with the aim to consolidate the Kingdom’s position as a global logistics hub linking the three continents, upgrading transport services, and strengthening the tourism services system.

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Business

Al-Moammar Receives First Work Order Under HUMAIN Agreement, Worth More Than 148% of 2025 Revenue

A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).
A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).
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Al-Moammar Receives First Work Order Under HUMAIN Agreement, Worth More Than 148% of 2025 Revenue

A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).
A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).

Al-Moammar Information Systems Company (MIS) has received its first work order under its agreement with HUMAIN, with a total value exceeding 148 percent of the company's total revenue for 2025, including value-added tax.

In a statement on Saudi Exchange on Sunday, the company said Work Order No. 1, received on October 1, covers the scope of work related to a capacity of 50 megawatts. This was the scope previously announced as part of a project to design and build data centers dedicated to artificial intelligence technologies.

The company said the financial impact of the work order began in the second quarter of fiscal year 2026.

The work order was received under an agreement signed by Al-Moammar Information Systems with HUMAIN last September, with a value exceeding 689 percent of the company's total revenue for 2025, including value-added tax. The agreement includes an expansion of the project's scope from 50 megawatts to 250 megawatts.

When the agreement was announced, the company said the engineering, procurement, and construction works would be carried out through work orders issued by HUMAIN in accordance with the terms of the agreement. The company would announce each work order upon receipt, including its value, implementation period, and financial impact.

Al-Moammar Information Systems expects to receive additional work orders related to the further expansion of the project in the coming period and will announce any material developments in this regard when they occur.

Business

OPEC+ Agrees to Keep November Oil Output Targets Steady

FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo
FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo
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OPEC+ Agrees to Keep November Oil Output Targets Steady

FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo
FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo

OPEC+ agreed to keep oil production targets steady for November at a meeting on Sunday, the producer group said, in line with expectations that further output policy adjustments are unlikely until next year.

Seven core members of the group comprising the Organization of the Petroleum Exporting Countries and allies including Russia made the decision for November in a brief online meeting on Sunday. The core members are Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman.

Oil prices had dropped on Friday after European leaders agreed to US President Donald Trump's request to release diesel reserves. Even so, Brent crude remains above $100 a barrel, up from about $73 before the Iran war started in late February.

The Iran war has also delayed the group's output capacity review — crucial to determine members’ 2027 output quotas — because it has thrown estimates of future production potential into uncertainty, industry sources told Reuters last week.

OPEC+ has been raising output targets for much of 2026 after years of production cuts, but most of the increases stayed on paper because of the Middle East conflict.

The seven core OPEC+ members pumped 25 million barrels per day in August, up 630,000 bpd from July, yet still roughly 5 million bpd below prewar levels in February, OPEC data shows.

The seven hold their next meeting on November 1.

OPEC+ still has about 2 million bpd of output cuts in place covering most members. It needs the result of the capacity review to decide how to distribute increases and any changes to output are unlikely before 2027, sources have said.

A separate OPEC+ ministerial group called the Joint Ministerial Monitoring Committee (JMMC), which does not decide policy, also met on Sunday to review the market.

Business

Saudi Arabia Announces Results of Natural Gas Distribution Licensing Competition in Al-Kharj

A worker at one of Saudi Aramco's gas facilities.
A worker at one of Saudi Aramco's gas facilities.
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Saudi Arabia Announces Results of Natural Gas Distribution Licensing Competition in Al-Kharj

A worker at one of Saudi Aramco's gas facilities.
A worker at one of Saudi Aramco's gas facilities.

The Ministry of Energy today announced the results of a competition for a license to establish, own, and operate a natural gas distribution network in the industrial city of Al-Kharj in central Saudi Arabia.

The ministry had previously invited interested investors to participate in the competition to obtain the license and completed the procedures for qualifying bidders, launching the competition, and evaluating the bids.

As part of the competition, Natural Gas Distribution Company was awarded a license to establish, own, and operate the distribution network in the industrial city of Al-Kharj.

The competition will contribute to the objectives of the Liquid Fuel Displacement Program and the replacement of liquid fuels with natural gas, with the aim of maximizing the economic, environmental, and social benefits that the Kingdom derives from its petroleum resources as part of Vision 2030.

The launch of the competition is part of the ministry's efforts to strengthen the natural gas sector's infrastructure and stimulate investment in the sector by creating an attractive competitive environment that enables beneficiaries to access natural gas and improves the quality of services provided.