Saudi Arabia Launches First Electric Bus

The first electric public transport bus in the Kingdom was inaugurated on Thursday in the city of Jeddah. (Asharq Al-Awsat)
The first electric public transport bus in the Kingdom was inaugurated on Thursday in the city of Jeddah. (Asharq Al-Awsat)
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Saudi Arabia Launches First Electric Bus

The first electric public transport bus in the Kingdom was inaugurated on Thursday in the city of Jeddah. (Asharq Al-Awsat)
The first electric public transport bus in the Kingdom was inaugurated on Thursday in the city of Jeddah. (Asharq Al-Awsat)

Saudi Arabia has inaugurated on Thursday the first electric public transport bus in the Kingdom in the city of Jeddah. The step comes as part of its efforts to reduce carbon emissions by 25 percent by 2030.

The latest models of electric passenger buses, which are being operated by SAPTCO, will provide services to the residents of the Jeddah governorate within the public transport routes.

During a ceremony on Thursday, Acting Chairman of the Public Transport Authority (PTA) Dr. Rumaih Al-Rumaih inaugurated the bus service, in the presence of Mayor of Jeddah Governorate Saleh Al-Turki, and President of the Saudi Public Transport Company (SAPTCO) Eng. Khaled Al-Hogail.

In a statement, PTA noted that the move falls within the objectives of the National Strategy for Transport and Logistics Services, which aims to reduce carbon emissions by 25 percent by 2030, and contribute to raising the quality of life in central cities through environmentally friendly means of transport.

The authority added that the bus can travel a distance of 300 kilometers on a single charge, and is considered as one of the modern buses with high efficiency, as it consumes less than 10 percent electricity compared to other electric buses.

In remarks on the occasion, Al-Rumaih said that Saudi Arabia has achieved remarkable development in the transport sector, including the type of fuel used, such as hydrogen and clean fuel, with the aim to reduce emissions from vehicles by 25 percent.

Regarding future plans, he stated that the PTA and the Jeddah governorate were seeking to provide public transport service in medium-sized cities such as Jazan, Sabya, Abu Arish, Taif, and Qassim during this year.
He added that the public transport service will also be launched in Tabuk, Al-Ahsa, and other cities.

“We are working on using other alternatives for taxis and public transport, and we have various tests to use alternatives that reduce carbon emissions, as a target for the Kingdom’s Vision 2030, until we reach a 45 percent reduction in carbon emissions in transportation, leading to clean energy,” the head of the PTA underlined.



OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters
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OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters

OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other regions, marking the producer group's fourth consecutive downward revision in the 2024 outlook.

The weaker outlook highlights the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia, which earlier this month postponed a plan to start raising output in December against a backdrop of falling prices.

In a monthly report on Tuesday, OPEC said world oil demand would rise by 1.82 million barrels per day in 2024, down from growth of 1.93 million bpd forecast last month. Until August, OPEC had kept the outlook unchanged since its first forecast in July 2023.

In the report, OPEC also cut its 2025 global demand growth estimate to 1.54 million bpd from 1.64 million bpd, Reuters.

China accounted for the bulk of the 2024 downgrade. OPEC trimmed its Chinese growth forecast to 450,000 bpd from 580,000 bpd and said diesel use in September fell year-on-year for a seventh consecutive month.

"Diesel has been under pressure from a slowdown in construction amid weak manufacturing activity, combined with the ongoing deployment of LNG-fuelled trucks," OPEC said with reference to China.

Oil pared gains after the report was issued, with Brent crude trading below $73 a barrel.

Forecasts on the strength of demand growth in 2024 vary widely, partly due to differences over demand from China and the pace of the world's switch to cleaner fuels.

OPEC is still at the top of industry estimates and has a long way to go to match the International Energy Agency's far lower view.

The IEA, which represents industrialised countries, sees demand growth of 860,000 bpd in 2024. The agency is scheduled to update its figures on Thursday.

- OUTPUT RISES

OPEC+ has implemented a series of output cuts since late 2022 to support prices, most of which are in place until the end of 2025.

The group was to start unwinding the most recent layer of cuts of 2.2 million bpd from December but said on Nov. 3 it will delay the plan for a month, as weak demand and rising supply outside the group maintain downward pressure on the market.

OPEC's output is also rising, the report showed, with Libyan production rebounding after being cut by unrest. OPEC+ pumped 40.34 million bpd in October, up 215,000 bpd from September. Iraq cut output to 4.07 million bpd, closer to its 4 million bpd quota.

As well as Iraq, OPEC has named Russia and Kazakhstan as among the OPEC+ countries which pumped above quotas.

Russia's output edged up in October by 9,000 bpd to about 9.01 million bpd, OPEC said, slightly above its quota.