Arabia

Saudi Arabia hugs renewables for the most unexpected: reinforce their oil power

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The oil market faces an unexpected turn: the threat to large exporters does not come from the capitals that lead electrification, such as Oslo or Shenzhen, but from the heart of the industry, Saudi Arabia. In a column published in Bloomberg Opinionanalyst David Fickling summarized it with a disturbing metaphor: “The murderer calls from within.” Domestic appetite by crude is stopped. Since the beginning of the century, the consumption of oil in Saudi Arabia had shot. According to Bloombergdoubled to 2.3 million barrels per day, with between a quarter and a third destined to feed electric and fuel power plants to combat abrasive summers. However, this trend has begun to be reversed. The official plan is to almost completely eliminate the burning of crude in electricity generation from here to 2030. As explained by Saudi Aramco, Amin Nasser, replacing that oil with renewables equivalent, in terms of export, to drill new wells. The International Energy Agency even warns that this change could represent the greatest drop in oil demand in the world in the next five years. The commitment to renewables. Behind this turn is the massive deployment of solar energy. Fickling energy expert has pointed out That Acwa Power, the largest Saudi developer, plans to reach 78 renewable gigawatts in 2030, enough to cover all the electricity that the country generates today with oil. Since 2024 It has already connected Almost 5 GW in new solar plants and has another 15 GW on the way. Logic is simple: in Saudi Arabia, solar electricity costs less than half than the conventional network. In addition, panels are easier to install than oil infrastructure, a land in which the kingdom was always strong. However, enthusiasm is not exempt from doubts. The Kpler consultant Calculate thatof the 130 GW announced by the Government, only 11.6 GW will really be online in 2030, which would prolong the use of crude oil in the electricity grid. The Saudi impulse is not limited to the plot. The country You have already connected the battery system Storage, Bisha Bess (500 MW/2,000 MWh), operated by Saudi Electric Company with Byd Chinese technology. This allows to integrate intermittent renewables into the network and gives infrastructure flexibility. To this is added a plan to produce lithium in 2027 and uranium enrichment and enrichment projects To boost nuclear energy. It clashes with megaprojects. This energy advance contrasts with vision problems 2030 in its most spectacular version. The Saudi Public Investment Fund cut 8,000 million dollars to the neom megaprojectquestioning the viability of initiatives such as The Line or the Trojena Ski Station. A high -risk geopolitical play. The Saudi movement has implications beyond its energy balance. While the kingdom has driven OPEC+ to increase production in a saturated market, with the aim of pressing the American fracking and recovering market share. This has tensioned the seams of the poster: United Arab Emirates, Kazakhstan or Iraq produce above their installments, and Russia has shown an open disagreement with the Saudi strategy. In the international market prices also suffer. According to ReutersSaudi Arabia could cut official sales prices (OSP) for Asia in October: Arab Light would be reduced between 40 and 70 cents per barrel, up to 2.50–2,80 dollars on the Oman/Dubai reference, and other degrees would fall between 40 and 60 cents. The combination of lower demand, abundance of Russian crude and a greater flow of American oil presses interest in Saudi crude. The Saudi paradox. What seemed like the Achilles heel of Saudi Arabia – his voracious internal crude consumption – has become his most surprising strategic weapon. When betting on solar energy, battery storage and, to a lesser extent, the nuclear, the kingdom seeks to maintain its role as a dominant supplier in the global market. But this same play threatens to undermine the OPEC foundations and enlarge a fiscal deficit that is already forcing to cut pharaonic projects such as Neom. Saudi Arabia Libra two battles at the same time: one to continue reigning in oil and another to reinvent itself in the post-hydrocarbons era. The open question is if you can win both. Image | Unspash Xataka | To the surprise of absolutely no one, Saudi Arabia has begun to make cuts in its impossible city: Neom

Saudi Arabia cuts 8,000 million dollars its budget

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He Neom megaprojectit has been the closest to the construction of the great pyramids that Middle East has lived. The project intended Undoil to Saudi Arabia of its dependence on fossil fuels that have supported the country during the last decades, to make it an attractive destination for investments and High purchasing power tourism. According to published Reutersthe Public Investment Fund of Saudi Arabia (PIF for the acronym in English of PUBLIC INVESTMENT FUND), which promotes these initiatives, announced a reduction of 8,000 million dollars in its budget for Neom. An 8,000 million ax. The PIF has opted for Recalibrate your investmentsprioritizing more realistic objectives and extending the deadlines for execution to relieve financial burden on the sovereign fund of the country. The very high costs of projects and complicated geoeconomic situation has forced Saudi Arabia to make an important financial adjustment that Question viability of some of the Pharaonic projects that had been planned in different parts of the country. Neom touched, but not sunk. According The published data by him Financial Timesthis cut implies a reduction of approximately 12.4% of the total value of the five key megaprojects that formed the Vision 2030 plan, with Neom as one of the most affected. The declared value of these projects went from 241,000 million riyales in 2023 to 211,000 million in 2024. That depreciation in the value is equivalent to about 8,000 million dollars, which is an important cut in investments. Oil price plays against it. The budget adjustment responds mainly to the Petroleum price drop and the accumulation of significant cost overruns in these megaprojects. CNBC He pointed outThat the value of the projects has been reduced due to delays, cost overruns in their execution and changes in the geopolitical situation of the area that have pushed down the profitability of the PIF. Mónica Malik, Chief Economist of the Abu Dhabi Commercial Bank, pointed to Reuters that “the recalibration is also important to contain the bad allocation of resources and the cost pressures of the projects”, prioritizing investments For those projects that are already committed to the organization of world events such as the football stadium that will house The Line on its roof on the occasion of the 2034 Soccer World Cup. 1,000 stroke jobs. Financial difficulties had already forced to review the scope and rhythm of development in the past. For example, in The Line HE They reduced expectations Initials 170 km long from the project, 2.7 km by 2030. In this new scissors, they will be affectedthousands of employees. Many of them have already been fired to reduce costs, while more than 1,000 workers will be relocated to the most priority projects, which will slow or put in technical break to Other projects for lack of personnel and financial resources. Reality was not as spectacular as Renders. In addition to Neom, other linked projects have shown less promising results than expected. Trojena, the ski resort that will house the 2029 Asian Games and the 2030 Winter Olympic Games, faces considerable challenges Due to the climatic conditions and the limitations of its infrastructure, generating doubts about their ability to meet the initial expectations. Another example of little interest that are provoking the infrastructure that has already ended Saudi Arabia is Sindalah, The tourist island Within the Neom Plan, showing that in addition to offering some Renders Futurists Of your projects, it is also necessary that the result be good enough to attract investors. In Xataka | An inverted and bunkerized skyscraper: the idea of Saudi Arabia to attract multimillionaire tourism Image | Neom

The Line goes regular, so Saudi Arabia has asked some consultants to solve the obvious: if it makes sense

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When years ago The heir prince Mohammed Bin Salman presented the plans of The Linethe gigantic Pharaonic glazed city that Saudi Arabia wants to build in full desert, the idea sounded for science fiction. And it’s normal. Not every day a megalopolis of 170 km long, 200 m wide and huge skyscraper, all thought to welcome millions of people without roads or cars. Over time His works started And the project advanced slowly, between huge exiles and foundations concrete. Now its promoters have done Something peculiar: Ask several consultants for help to confirm whether the initial plans are viable or should adjust them. What happened? That Saudi Arabia wants to review its most pharaonic, surreal and delicate project: The Linethe gigantic “corridor city” of 170 kilometers and 500 meters high and 200 m wide that the country wants to lift in the desert. Although every so often its promoters They presume the advance of the works, Bloomberg He has just revealed that the Saudi authorities have commissioned several consulting companies to carry out a strategic review of the project. What have you asked? That value if the current plans are feasible and suggest possible changes. This is at least supported by Bloomberg, which quotes anonymous sources close to the project. They have not transcended more details or the consultants to which the Saudi Arabia Public Investment Fund has been directed (PIF), But the decision is interesting both for its background and for the context. Once you have the data, those responsible for the project must assess the information and choose: Do you need to apply changes? Can you follow the work without adjustments? Bloomberg clarifies that the plan could be kept as it is and that, if remembering, any change would demand the OK of the PIF and the Saudi executive himself. And what do promoters say? The Line is part of an even greater project, Neomwhich seeks to diversify the economy of the nation and includes other initiatives, such as Magna, Oxagon, Sindalah and Trojenaalthough The Line It is the most ambitious of all. Those responsible have removed iron on the fact that the PIF has taken advantage of external consultants and ensure that it is a normal procedure. “As usual in large plurianual projects, strategic reviews are a common practice and are carried out several times during a large development project or infrastructure program,” claims Neom. “The Line remains a strategic priority and Neom focuses on maintaining operational continuity, improving efficiency and accelerating progress to meet the vision and general objectives of the project.” Why does the context import? Because, like Remember the agencythe country dealt with the price drop of oil, a minor foreign investment than the foresee and budgetary deficits. Bloomberg Precise That to balance its budget Saudi Arabia needs Brent barrel to be 96 dollars, a figure that rises to 113 if the internal expense of the FIP is included in the projects of the heir prince. Both values are above around $ 71 current. Are you lowering your expectations? The news of the project review comes only a few months after the Saudi authorities Sale your expectations On the development of The Line. At least as regards the calendar. The initial objective was that in 2030 the Megaciudad welcomed 1.5 million residents, but now the promoters estimate that there will be only 300,000, according to Another filtration Published in April by Bloomberg. The size of the city in 2030 will also be far from the target of 170 kilometers. The finished surface would be just 2.4 km. Some sources They point out that the total cost of Neom, including The Line and other initiatives, would amount to about 1.5 billion dollars. Is it standing? Although their promoters have had to reduce initial optimism and want to escape other voices about planning, something seems clear: The Line will not stay in an ambitious model and a handful of colorful infographics. Although there is still work ahead, the works They have been advancing On the ground, something that Saudi Arabia has been responsible for making it clear Sharing From time to time images of excavators, operators and land movements. Three months ago Giles Pendleton, operations director, public On LinkedIn a series of Aerial photos in which the progress of what several Neom projects seems, including infrastructure of the future corridor city of 170 km. “Neom is real,” defends the manager. On the same dates the embassy of the Kingdom of Saudi Arabia in Spain also disclosed images Of the works in one of the tunnels that will circulate trains and load between The Line and Oxagon. Images | Neom In Xataka | Saudi Arabia has insisted that The Line possesses all the absurd records of the world. The last: the longest pool

There is a region in Latin America that has more oil than all Saudi Arabia. And yet it produces 12 times less

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To the east of Venezuela, the Orinoco oil strip wants to return to its golden age, but faces political, economic and technical challenges. Venezuela has the largest proven oil reserve in the world: 300,878 million barrels. To put it in perspective, Saudi Arabia has in its territory a reserve of 267,000 million barrels. A Treasury. The Venezuelan crude is concentrated in the Orinoco oil strip, a region of 55,314 square kilometers east of the country that extends over the Orinoco River basin. The Orinoco oil girdle It is rich in heavy and extrapeted oil, a type of dense and viscous crude that requires more expensive and challenging refining processes to transform into usable products, such as gasoline and diesel. The twenty -first country in oil production. The Orinoco oil strip has been known since January 1936, when the American company Standard Oil of New Jersey did the first well: “La Canoa-1”, in the state of Anzoátegui. But gigantic. Despite its age, the Orinoco oil strip remains the largest crude oil reserve. And yet, he has been unable to lift his head for years due to the political and technical and economic sanctions that surround it. In its oil peak, Venezuela produced three million barrels per day. Today is the Twenty -first country in the world In oil production with 770,000 barrels a day, from behind even neighboring Colombia. The United States, Saudi Russia and Arabia lead the ranking with 8-12 million barrels per day. A challenge and an opportunity. The sanctions on Venezuelan oil, led by the United States government, rose for six months in October 2023, which allowed a shy return of foreign companies to the Orinoco oil strip. The moratorium evidenced that the Venezuelan oil sector has problems beyond the political; structural problems. After years of negligence, corruption and economic crisis, Venezuelan oil needs foreign investment to modernize the expensive infrastructure with which it extracts and processes heavy crude. Although the sanctions were activated last year as a pressure measure of the Biden administration against the government of Nicolás Maduro, now foreign companies have the opportunity to obtain individual licenses to mitigate their effect, which shows some sprout of hope for a country in which oil remains an economic engine. The Petroleum Momentum of Latin America. The modernization of infrastructure, the attraction of foreign investment and the stabilization of the economy are crucial steps, but we do not know if enough to recover all the economic potential of the Orinoco oil strip. The context seems flattering. Latin American countries are involved in A “gold fever” of oil in which the most extreme case is that of the also Guyana neighbor, which has seen a growth of 33% of GDP thanks to the reserves discovered in its coasts in 2015. Meanwhile, Brazil has climbed to the 8th place in the world production of oil and Mexico is in the 11th place. What if falling? The question that floats in the air is the same for all these countries, what will happen to their investments when the expected drop in oil demand By effect of energy transition? For now, much of the world moves as if we were going to continue burning oil for many years. Maybe that is the answer. Images | EFOFAC, Wilfredor In Xataka | The Falkland Islands rest over 500 million barrels of oil. Now the United Kingdom wants to authorize its extraction *An earlier version of this article was published in July 2024

Russia, Emirates and Saudi Arabia are dynamiting the poster from within

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In 1973 one of the greatest energy crises of the twentieth century broke out. Yom Kipur war and the oil embargo decreed by Arab countries fired the price of crude oil, which quadrupled in a few months. The consequence was an economic storm: inflation, recession and a deep geopolitical rearrangement that catapulted the OPEC to the center of the world energy board. Five decades have passed, but oil continues to mark the pulse of global tensions. There is no formal embargo, but worldwide conflicts added to a Commercial War promoted by the United States. Despite all this unstable situation, the OPEC+ has chosen to continue producing for the third consecutive month, in an already saturated market and with prices in descent. Disturbing signals. Against all forecast, OPEC+ has decided to increase its production in full price drop. At its last meeting, the poster, with the impulse of Saudi Arabia, has approved to add 411,000 barrels per day from July. The measure has left several of its own members perplexed, According to Bloomberg. The adjustment is equivalent to just 1.2 % of the global demand, but its political and strategic impact is deeper. Very disparate reasons. A possibility like He has pointed out The Economist is that Saudi Arabia and its Gulf allies would be trying to please Donald Trump. During his recent tour of the region, the former president pressed directly to achieve a decrease in fuel prices. In return, Riad and Abu Dabi expect strategic benefits, such as agreements in technological sectors such as In artificial intelligence chips. However, this is not the only motivation. The United States Plan based on an aggressive fracking expansion To lower oil It has altered the global market balance. In this scenario, Saudi Arabia has opted for a blunt response: flood the market with crude. By increasing the supply and forcing a price drop, it seeks to press schist producers in the United States, whose profitability depends on higher prices. This strategy also allows you to punish OPEC+ members who do not respect the quotas and, at the same time, recover part of the lost market share in the face of American unconfral oil. The background problem. The OPEC+ crisis is not only a matter of strategy or prices, but of internal cohesion. The cardinal regla of the poster on not producing more than agreed is being ignored by several members. According to The Economistthe United Arab Emirates (EAU) have declared to produce 2.9 million barrels per day (MB/D), but according to analysts consulted by the medium they have estimated that they would be producing between 200,000 and 500,000 b/d, well above their real share. The most worrying thing for OPEC+ is that even the “secondary sources” that they use to verify figures seem complicit in maintaining this fiction. Many are consultants that depend on contracts with state companies such as ADNOC (EAU) or Saudi Aramco. Although this comes from before. The first to reveal itself as such It was Kazakhstanwho overproduces up to 300,000 b/d above what was agreed in April. While Iraq has difficulty controlling its total production, which includes fields in Kurdish hands. These three countries are weakening the authority of the poster from within. And there is a surprise more. The only member of the group with geopolitical power comparable to the Saudi, has begun to show opposition. Bloomberg has detailed That at the most recent meeting, Russia supported by Algeria and Oman, asked to freeze production in July to evaluate the effects of previous increases, but his proposal was ignored. Saudi Arabia has imposed its plan without consensus, a clear sign that the era of collegiate leadership is over. Are we facing an implosion? If Saudi Arabia fails to control the Emirates or contain divergences with Russia, the poster runs the risk of becoming irrelevant. The promised fees review for this year has been postponed until 2027, which has unleashed frustration in Abu Dhabi. The Emirates, with a capacity that almost reaches 5 MB/D, need only $ 50 per barrel to balance their accounts, compared to the $ 90 that requires Saudi Arabia. The structural divergence between the two is deep. An analyst with contacts in both governments He has warned For The Economist that is only a matter of time for an open clash between the two giants, which could precipitate an Emirati output of the OPEC+. On the edge of collapse. For 65 years, OPEC has survived wars, pandemics and the fracking boom. But it seems that it has reached its limit in this situation, where the demand for oil could reach its peak in the next decade, and many petroesties are determined to sell what they can before it is too late. If internal cohesion continues to erode, if the quotas are unfulfilled unpaid and if the large producers act unilaterally, the OPEC+ will no longer be a global strategic actor and will become a symbolic alliance. The current “crack” is not just prices. It is an institutional “crack.” And this time, it can be definitive. Image | Pexels Xataka | The oil market faces a triple coup and IEA is clear why: Iran, Opep+ and electric vehicles

Saudi Arabia has signed a check of 7,000 million dollars for Nvidia. Jensen Huang is now 12,000 million richer

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In his Official visit to Saudi ArabiaDonald Trump has been accompanied by an entourage of technological entrepreneurs including Elon Musk, Sam Altman, Lisa his and Jensen Huang. The presence of all these technological executives is justified within the framework of A GREAT COMMERCIAL AGREEMENT Between both countries valued at 600,000 million dollars, which includes the sale of more than 18,000 GB300 Blackwell GB300 chips in NVIDIA. After knowing the agreement, Nvidia’s shareholders launched a trip to buy shares of the manufacturer, causing Jensen Huang’s personal fortune to have increased by 12,000 million dollars in just a few hours. A breath of air for Nvidia. The agreement with Saudi Arabia arrives as A breath of fresh air After weeks of uncertainty about commercial limitations With China for tariffs, which underlines the strategic importance of this movement. “The AI, like electricity and the Internet, is an essential infrastructure for every nation. Together with Humain, we are building an AI infrastructure so that the people and companies of Saudi Arabia make the bold vision of the kingdom come true,” Huang said after the signing of the agreement. According to A statement of Nvidia, the agreement includes a first phase with the supply of 18,000 processors for AI GB300 Grace Blackwell For Saudi Arabia to develop Your data centers. Such and as they said From NVIDIA, the objective is to enhance the Saudi technological infrastructure and accelerate its digital transformation as part of the Vision 2030 Plan of which also It is part of neomand whose objective is that the country’s economy stop depending on your deposits of oil and gas. Humain and Saudi Arabia. The key partner of Nvidia in this agreement is Humain, the Saudi state company of artificial intelligence, Backeddirectly by the Public Investment Fund (PIF) of the Saudi kingdom, which also Finance the pharaonic works of neom. Humain was created with the aim of developing AI technology. The company is directed by Tareq Amin, a exexecutive of Aramco Digital, and has the direct support of the heir prince Mohammed Bin Salman. The agreement with Nvidia is Humain’s first great step to materialize this vision and an important capital injection for Nvidia, which opens a new booming market for its chips for ia. A joy for investors. According The published by CNBCthe announcement of the agreement has had a Immediate and very positive effect In the quotation of Nvidia. Their shares rose 6% in a single session after the news is public, and maintains its upward trend adding an increase of 16.78% in recent days. With this announcement, the recovery of the technological giant price rhythm is consolidated, which recovers 37% from its minimum of 2025 registered in April after the uncertainty generated by the USA tariffs to China. Bank of America analysts They estimatedthe total value of the agreement at 7,000 million dollars, which together with the estimate of Chips sales to United Arab Emirateshas returned optimism to technological investors. Well for Nvidia, well for Huang. Jensen Huang cannot be more satisfied with the agreement signed with Saudi Arabia. Thanks to the response of his shareholders, the assessment of his fortune has increased by 12,000 million dollars in a single afternoon, achieving the Greater gain in dollars In a single day for an executive of the technological sector that controls 3.5% of Nvidia’s actions. This fortune places Huang at the doors of the top 10 of the world’s largest fortunes, with an estimated total heritage of 118.2 billion dollars, turning Huang into the eleventh person richer on the planet. The Nvidia CEO is just one step behind figures like Amancio Ortega – which occupies the tenth place In the Forbes ranking-; Steve Ballmer, Excus from Microsoft; or the founders of Google Serguéi Brin and Larry Page. In Xataka | The secret of Nvidia’s success does not hide in her chips: she is in the emails that Jensen Huang Lee every day Image | Nvidia

Saudi Arabia wants to become a new power in data centers. Nothing is clear that I can do it

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Donald Trump has made a unique tour of several countries in the Middle East, and among the agreements that are considered surprising: Saudi Arabia, United Arab Emirates and Qatar want to invest billions of dollars in the construction of data centers for ia. The question is whether they will do so. Chips for strategic alliances. The Biden administration had largely limited the number of advanced chips from which these countries could access, but Trump’s mandate is changing things. As they point out in The New York Times, AI chips seem now to be a useful argument to strengthen relations with countries with this Trump newspaper “has deep financial ties and business. “Qatar already plans donate a Boeing 747-8 which could end up being used as the new Air Force One. Saudi Arabia on the one hand. Nvidia and AMD have reached an agreement to sell their professional GPUS to Humain. This newly created company – it belongs to the country’s public investment fund – It has the objective to create a large data center in Saudi Arabia. The agreement with AMD raises An investment of 10,000 million dollars in infrastructure in the next five years. Humain will supervise the development of these data centers, while AMD will provide chips and software. Arab Emirates attached to the other. As indicated In Bloombergthe Trump administration is considering reaching an agreement that would allow United Arab Emirates to import a million Nvidia chips. Eau could thus buy 500,000 of those chips per year until 2027. A fifth would be reserved for the G42 firm of Abu Dhabi. Saudi data centers. Nvidia, meanwhile, will sell 18,000 Your GB300 chips To Saudi Arabia. This was announced by Jensen Huang on Tuesday, which will contribute clearly to the Humain projects, which propose with data centers with a joint “1.9 GW” power “in 2030. Those 18,000 chips will apparently be part of the” hundreds of thousands “of which the Saudi project will be nourished. Possible “resale” to China? The United States restricted the sale of advanced chips from AI to China in 2022, and there are those who fear that countries in the Middle East end up serving as intermediaries so that the chips that the US allows you to sell there ends where they should not. G42 theoretically cut ties with Huawei to reach an agreement of 1.5 billion dollars with Microsoft, but the suspicions about the situation persist. Saudi Arabia and its megaprojects. As points The analyst Ed Zitron, countries of the Middle East such as Saudi Arabia have been talking about all kinds of megaprojects for years, but one thing is their promises and another realities. It occurs with the Jeddah Tower, MUKAABhis Pharaonic airport And of course The Line and his futuristic city, Neom. All these projects still have a long way to go, and this new Saudi ambition, although more “contained” in terms of dimensions, is equally complex for a country without experience in this area. There is energy … Countries like Saudi Arabia have abundant energy resources and in fact there are A strong investment in solar energy. Its application to provide power to those data centers, yes, it is not so easy, as they are discovering In the United States. … but no (much) water. The problem is that these data centers dissipate a lot of heat and the desert environment is not exactly the idea for this type of facilities. Extraordinary cooling solutions are needed and the country has scarce water resources. Desalination plants are A pillar of its strategic plan, and innovations may also go into play in the field of refrigeration such as closed circuit systems or Direct liquid cooling. Image | Neom In Xataka | New York Bitcoin miners are buying old power plants. New Yorkers are not happy

Saudi Arabia is not willing to give up a paradise in the purest Caribbean style, despite Neom’s cuts: Laheq Island

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Neom has dreamed of a dystopian future designed for luxury tourism, in which they have imagined linear cities of 170 kilometers long, Aquatic parks In the middle of the desert, soccer fields that seem taken from a video game either Luxury bunkerized resorts that house high -tech laboratories inside. The variety of NEOM projects is huge, and some of them already They have come truealthough with results less spectacular of what their promoters promised. However, despite complicated economic scenario That it is facing oil, Neom does not stop presenting new urban developments oriented to the ruling and enjoyment of the millionaires of the entire planet: A luxury semi -artificial island in front of the western coasts of Saudi Arabia. It will be the first of a 92 island archipelago. Laheq Island: A Caribbean island at the doors of a desert The real estate developer is global, He has made public The Laheq Island project, the new red sea jewel, at least as far as luxury tourism is concerned. This ambitious project joins the Vision 2030 Plan driven by the heir prince Mohammed Bin Salmanwhich seeks to reduce the dependence of Saudi Arabia of its gas and oil deposits and seeks to boost its economy bringing international investments. The new private island has been designed by The Foster + Partners study led by Norman Foster, and extends on 400 hectares of fine sand molded tailored to your needs. The central element of Laheq Island is “The Ring”. Around it, other minor islands communicate by bridges built on the sea that, in turn, connects the archipelago with the mainland. “The ring” is a 800 meter circular structure in diameter that surrounds an inner lagoon with white sand beaches and abundant vegetation, while the outer part of the ring is bathed by the crystalline reds of the red sea. The design prioritizes the integration of luxury villas and mansions that will be built throughout the ring, leaving several outings to the sea in different points of the perimeter and allowing the entrance to the lagoon to small boats. The Superyates Of its inhabitants they will remain at the doors of the complex in Marina with capacity for 115 large moorings. These moorings will also be available for guests of the two five -star hotels or the beach club. Leisure will be carried out by different sailing schools and aquatic sports, a tennis club, 18 holes with club and a traditional Saudi souk. Current appearance of Laheq from Google Earth “Whether they are visiting guests or residents who wish to acquire a piece of the Red Sea, in Laheq they will experience a luxury life in an enriching tourist community that unites people and encourages links for a lifetime,” said John Pagano, executive director of the Red Group is global. Laheq Island not only attracts attention for its architecture and services. The semiartificial island has developed in a privileged environment. Is part of one of the Greater coral reefs of the world, home of more than 2,000 marine species, many of them rare and unique. Millionaire projects, downward budgets The presentation of the Semiartificial Island Laheq arrives right in one of the economic moments More delicate for Neomwith the budget cuts hanging on the head of some projects like a Damocles sword. Such and As I pointed out he Financial Timesthe country is going through a stage of review and reduction of expenses, with 20% cuts in the Neom budget For this year due to Fall in oil prices and the national budget deficit. However, the commitment to exclusive tourism projects in the Red Sea seems to move forward obliges, while other projects They are canceled either They reduce its scale. In Xataka | SIRANNA: The new luxury destination for the Supermer Image | Red Sea Global, Foster + Partners

There are 2,400 Tesla Cybertruck without owner. Fix the failure is to sell them in a SO: Saudi Arabia

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Tesla expected her cybertruck to become a success of sales. Clearly, he did not calculate well what was coming. The company is in an unknown crisis. When he had managed to settle as another company of vehicles, an unexpected events are complicating his numbers. A stranger. Tesla sold less cars in 2024 that in 2023. It is not uncommon for a company to face this situation but is unpublished for Elon Musk’s company that year after year had settled in sustained growth. Although he did everything possible to improve his numbers at the end of the year, the accounts did not finish leaving. Despite this, investors pointed to an optimistic future. Despite the rejection of some of them, they had seen the Musk bet for autonomous driving And, with Donald Trump in power, the prospects were good enough for the shares to walk towards the 500 euros of value. A Batacazo. But 2025 is being a bad year for the company. Before the end of the year, investors began Adjust action prices. Then came the confirmation that Tesla did not improve numbers of the previous year. And month after month The sales of their cars have been weighed by the renewal of Tesla Model and … and we do not know to what extent because of political opinions and behavior of Elon Musk. The truth is that the company has crashed in Europe. The Tesla Model and, which was The best -selling car in the worldis missing at the moment until the arrival of his renewal. It remains to be seen how much traction it now has that the competition squeezes and seems discarded a Tesla “cheap” of $ 25,000. With name and surname. If a car is being a failure that is the Tesla Cybertruck. The company’s pick-up promised to be a success. It was supposed to accumulated hundreds of thousands of reservations And it did not seem to import that it arrived with a very marked premium and, to top it off, a reduced autonomy. At times, the car was a sales missile and became the best -selling luxury model of Tesla. But, little by little, the globe was punctuing. The multiple arrived Review callsthe videos in which He joked with his offroad capabilities and one Foundation series that seemed impossible to sell. To the point of putting the same car on the street for thousands of dollars less Thanks to remove some sheets. They are not sold. We already explained Why Tesla could have made Cybertruck a special model in its range, well built (to which the plates did not fall), produce it under minimum, generate expectation and risk very little with its proposal. However, the company wanted to believe that its gigantic Cybertruck could be a mass car. And everything indicates that their calculations have been completely wrong. In Motorpasion They collect that the company has an average 30 -day stock available. It could deliver up to 2,400 vehicles that are valued at a price of about 200 million dollars. Right now, they are completely standing waiting for a buyer. Of course, it seems that the production of 1,300 weekly units It is being more a problem than an attractive figure. Looking for solutions. Overdimensizing the demand of a car can be a serious problem for a brand. Having too stock stands out the product and generates serious cost problems when storing vehicles. In addition, he suggests that too much money has been invested in a assembly line that is not profitable. That same problem has had, for example, Stellantis that did not measure (or Tavares did not want to measure) Well your audience in the United States. That caused an excess of stock in some concessionaires that practically gave the fiat 500ethe electrical version of the utility. The decision made by Tesla is also the most obvious: to start selling its cheapest options. The company has opened a new line offering the most modest versions of the Cybertruck. It is the so -called Long Range, with greater autonomy but less benefits and a simpler suspension (springs instead of pneumatic suspension). Saudi Arabia. The other way to open market is Sell ​​your cars in Saudi Arabia. While the company eliminated the Chinese market the Tesla Model X and Model S (almost testimonial there) as a result of the increase in tariffs between the two countries, the company looks at the Middle East. The country has launched a project to fill its cargo points, as part of the plan for converts as a nation for 2030. Aware of the money available for its potential customers, Tesla has not hesitated to offer all its range in the Arab country. Actually, it is a maneuver that makes sense. Tesla can allow you to distribute your cars there and try to open a new market. Perhaps it will not be the one that generates the greatest sales volume but it is likely that you can sell your most expensive and, therefore, profitable cars there. A Tesla Cybertruck can find a very nutritious market in Saudi Arabia. Photo | Tesla and Abdulrhman Alkhnaifer In Xataka | The owners of a Tesla Cybertruck “packed” it with solar panels for $ 10,000. They won 7 kilometers of autonomy

We thought we had seen everything about the futuristic city of Neom. A document has revealed what Saudi Arabia hidden: its cost

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At the beginning of March Neom He was news again. Satellite images through Google showed that the expansion of its port had experienced a significant transformation as Part of oxagonthe “Pata” futuristic “leg” of Neom. Once again, the hyperbole flooded a project that was born exaggerated and that, perhaps, dies exactly the same. Dreams and chaos. We have treated countless times the project in Saudi Arabia. Neom is An ambitious project destined to transform the country into a global center of technology and businesses, which faces serious problems that have questioned their viability. As we will see below, despite the 50,000 million dollars already invested, uncontrolled costs, mass delays and a management model full of illusions and financial concealment have turned this megaproject into A monumental challenge For the heir prince Mohammed Bin Salman (MBS). A start to trompicones. The spectacular Inauguration event On October on the island of Sindalah, with the presence of celebrities such as Will Smith, Tom Brady and Alicia Keys, today it is seen from another perspective. The reason? One was hidden less glamorous reality: The constructions They were incompletethe budgets had been tripled and the heir prince himself was unexpectedly absent, a gesture interpreted by many as a sign of disapproval. Not just that. Weeks later, the CEO of Neom It ended up being replacedand a new executive team took control in a desperate attempt to straighten the project. Futuristic promises vs reality. No doubt, Neom was conceived as a city of the future with science fiction elements, including in equation A The Linethat pair of skyscrapers 170 km long and 500 meters high (then trimmed in the budget); Trojenathe skiing station in the desert; Oxagona kind of floating business and industrial district; either Sindalaha spectacular luxury resort in the Red Sea. However, reality It has been very different. Delays of more than three years in Sindalah, which still does not open its hotels or golf course, while Neom has to face A cut of your first phasewhich puts at risk attract the necessary population to justify the investment. To this we must add overflowing costs: It is estimated that Neom It will cost 8.8 billion dollars By 2080, more than 25 times the annual budget of the country. Plus: obvious logistics challenges, since construction in the desert lacks the necessary basic infrastructure (labor, roads, ports and electricity). The mega projected port for oxagon The financial disaster is uncovered. And so we arrive at the news of this week that has made the viability of the project jump through the air. An internal report of more than 100 pages, Reviewed by The Wall Street Journalhas revealed that the executives of Neom, with the support of the consultant McKinsey & Co., have been altering financial estimates to justify the increase in costs. In other words: the report found “evidence of deliberate manipulation” of figures to hide the real expense. In trojena, for example, when the cost is shot at 10 billion Of dollars, instead of reducing expenses, income expectations were inflated, artificially raising hotels and luxury camps rates. There are more. For example, the projected rate of a boutique hotel It went from $ 489 to $ 1,866 by night. And luxury “glamping” rose from $ 216 to $ 704 per night. McKinsey, who has charged More than 130 million dollars A year in fees for Neom, he validated these projections after another advisor refused to do so, according to the audit. The role of the prince. We already counted a few weeks ago that the project has started A monumental palace For the man behind the pharaonic project. The heir prince has been directly involved in each key decision, supervising architectural designs and promoting ideas Inspired by video games and science fiction movies. Some of its proposals include a “zero gravity” architecturethat challenges physical laws; or “El Candelabro”, a 30 -story skyscrapers suspended face down from a bridge; either Floating theaters between skyscrapers and a amusement park 300 meters high. When engineers have tried to reduce The Line height to save costs, Bin Salman He rejected the ideainsisting that the 500 meters high should be maintained. In another case, when The Line’s original architect, Thom Mayne, wanted to express concerns about excessive costs, Neom’s executives simply They blocked their access to the prince. Cuts and crisis. It has been the consequence. With the out of control costs, the Saudi government has begun to modify the deadlines and expectations. The initial construction of The Line was reduced from 10 km Just 1.5 km. A 30 km tunnel For trains it was canceled by excessive uprights. Finally, the goal of having the first functional section by 2030 has Delayed at 2034. That said, and despite the measures adopted, the prince and the Saudi Sovereign Fund They are still betting on the projectalthough they have begun to describe it as “a generational investment”, instead of an immediate growth source for Vision 2030. Time, of course, will issue a sentence, but today is approaching an example of quite unrealistic planninguncontrolled expense and lack of financial supervision. The futuristic city of the desert, conceived as the “civilizational revolution” of Prince Mohammed Bin Salman, seems to be trapped in a clash between fantasy and reality, already despite the billions of inverted millions, its success remains, at least, highly uncertain. Image | Google In Xataka | How much money Elon Musk has: how the fortune of the man who plans the colonization of Mars from a social network is distributed In Xataka | Who are the largest millionaires in Spain: the list of the ten richest people in the country

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