CEO of SPIRE: Saudi Competencies to Meet Renewable Energy Company Needs

Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)
Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)
TT

CEO of SPIRE: Saudi Competencies to Meet Renewable Energy Company Needs

Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)
Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)

Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE), said that work was underway with strategic partners to provide companies operating in renewable energy projects with skilled national cadres.

In an interview with Asharq Al-Awsat, Refae noted that more than 7,800 jobs will be needed for energy projects in Saudi Arabia during the coming years, expecting the demand to grow with the announcement of new and investment plans.

SPIRE is a strategic partnership institute within a comprehensive system, which the Ministry of Energy considers an important tributary for providing human resources and qualifying young men and women to work in the oil, gas and energy sectors and companies, with the support of Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy.

The institute is located in Al-Jouf region in northern Saudi Arabia.

Refae said that the region was selected to be the headquarters of the institute, as it is situated within the global Sun Belt, which makes the solar radiation it receives one of the highest rates in the world.

Therefore, SPIRE was chosen to be near the first renewable energy projects in Saudi Arabia - the Sakaka solar power plant and Dumat al-Jandal for wind energy. This will allow the institute to introduce trainees to real work environments, he underlined.

Al-Jouf is also close to several other renewable energy projects in Qurayyat, Turaif, Hafr Al-Batin, and Tabuk, located in the north of the country.

Asked about the launching date, Refae said: “SPIRE is now in the final stages of training procedures; we expect to start operation at the end of March.”

As for the training programs, he pointed to a 12-month program targeting holders of diplomas from technical colleges, in which the focus is on specialization and skills needed by employers.

Another 24-month program is directed towards high school graduates, in which the trainees undergo an intensive program in the English language and preparatory materials, followed by a 4-month field training on the job site.

According to Refae, SPIRE is based on the principle of training with employment, which is one of the most important bases of work in the National Center for Strategic Partnerships. Therefore, all those who successfully pass the selection tests will be contracted by companies operating renewable energy projects in Saudi Arabia.

The CEO of SPIRE told Asharq Al-Awsat that the institute will seek to provide programs and specializations that meet the renewable energy sector in the areas of management, operation and maintenance.

This will be supported by creating accreditation programs that are tailored to the needs of companies operating in this promising sector, in accordance with the plan of the Ministry of Energy and Saudi Vision 2030.

Pointing that the institute capacity will reach 3,000 trainees, Refae added: “We are in the process of rehabilitating and equipping the facilities, and we plan to start training 250 cadres during the current year.”

“We are cooperating with local universities and institutes within the national system to provide curricula in accordance with the highest international standards,” he remarked.



OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters
TT

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.