Saudi

Saudi Arabia has insisted on connecting its two seas by train. And to achieve this it has been placed in the hands of a Spanish company

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Saudi Arabia has launched one of the most ambitious railway projects in the Middle East: the “Landbridge” or “Land Bridge”, a $7 billion high-speed network that will connect the Red Sea to the Persian Gulf. The infrastructure will link Jeddah to Dammam via Riyadh, covering nearly 1,500 kilometers with the aim of completely transforming transport and commerce in the Arabian Peninsula. A strategic corridor for goods and passengers. The project will reduce travel time between Riyadh and Jeddah from around 12 hours by car to less than 4 hours by train. But the goal is for the project to go beyond just transporting passengers, as it is also designed to turn the kingdom into a key logistics hub in the region, connecting large industrial ports such as King Abdullah Port and Yanbu with urban centers and airports. According to Saudi authoritiesthe Landbridge could generate savings of $4.2 billion annually in transportation costs and create up to 200,000 jobs in related sectors. Vision 2030. This megaproject is a centerpiece of Vision 2030the strategic plan with which Saudi Arabia seeks to diversify its economy and reduce its dependence on oil. The Saudi Railways (SAR) company intends to expand the country’s railway network from the current 5,300 kilometers up to more than 8,000. As part of this modernization, SAR has ordered 15 new trains capable of reaching speeds of up to 200 kilometers per hour and even hydrogen-powered models. Spanish participation in the project. The Landbridge is being developed by the Saudi China Landbridge Consortium, a partnership between Saudi Arabia Railways and China Civil Engineering Construction Company, with local support from Al-Ayuni Contracting. Between the international companies involved The Spanish company Sener stands out, which was selected in December 2023 along with Hill International (USA) and Italferr (Italy) to provide project management services. Firms such as Systra, Thales, WSP and other specialized consulting firms also participate. A project with a long history and new Chinese momentum. Although the Landbridge It was initially announced in 2004 and paused in 2010, gained new momentum after the visit of Chinese President Xi Jinping in 2022, when both countries committed to accelerate its execution. Chinese investment in Saudi Arabia has grown significantly: in 2024, the stock of direct investment reached 8.2 billion dollarsup 29% from 2023. China has become the largest source of greenfield investment in the kingdom, with commitments worth $16.8 billion in energy, manufacturing and logistics. Railway enthusiasm. Only in the second quarter of 2025, more than 2.6 million passengers They used Saudi trains, according to Okaz media. After the completion of the Landbridge, Saudi Arabia will have made a qualitative leap in its railway network and logistics capacity, so it remains to be seen how the process ends up developing and if it really ends up being a ‘miracle of the desert’. Cover image | Maximilian Dörrbecker (Chumwa), Railway Supply In Xataka | In 2018 it was a countryside on the outskirts of Chongqing. In 2025 it will be the largest train station in the world

Saudi Arabia is not buying EA for video games. He is buying cultural influence in hundreds of millions of homes

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An Arab sovereign background has just closed the greatest leverage purchase operation in history: 55,000 million dollars per electronic arts. Paying a 25% premium (in the normal fork), apparently without haggling (definitely abnormal). Closing the operation in record time. And nobody lifts an eyebrow. Because it is supposed to be “only video games.” But they are not “only video games”: It is the FC 26 Entering every week in the living room of 150 million homes, especially for its younger members. Is THE SIMS Teaching what a family, a career, an aspirational life is. Is Madden Nfl and Battlefield occupying Sunday afternoons and the nights during the Week of Medio Planet. Saudi Arabia has not bought a study but a more powerful cultural distribution channel than any television networkquieter than any advertising campaign, more effective than any Hollywood study. Let’s think about the concrete: In EA Sports FC, every year it is decided which goals to include, what flags appear in the stadiums, what social messages are integrated into the game, what role is granted to women’s football, what attire the fans carry. In the PREMs, it is defined what kind of relationships are possible and which are not, what professional careers are glamorized and which ones lose value, what constitutes “success” in simulated life. In Battlefield, it is chosen what historical conflicts represent, how it is portrayed to the Middle East, what factions are “the good”. These are not technical details. They are editorial decisions that mold the worldview of millions of players They spend hundreds of hours a year in these worlds. And when a company stops quoting in the stock market, those decisions are no longer publicly justified: There are no shareholders asking why certain flags of certain markets were eliminated. Do not explain why references to alcohol, to the game, to sex or certain lifestyles disappear in subsequent updates. There are no analysts questioning why certain conflicts are represented in a certain way. There are no quarterly reports that explain narrative changes. Only gradual, imperceptible adjustments, which normalize certain visions of the world. The Saudi fund has not gone for studies indie experimental or for niche games with political messages. Has gone for the more franchises mainstreamsafe and massive on the planet. The least questionable possible. He Soft Power more invisible that exists: entertainment so normalized that nobody wonders who is behind. He simply plays. And then there is the detail that goes unnoticed: they pay 25% premium on the closing price without blinking. They close in a few months when operations thus usually lengthened years. A traditional investment fund would have dribble each percentage point. I would have asked for more DUE Diligence. He would have negotiated to the last dollar. The Saudi PIF pays the premium and accelerates the closure. Because When your goal is not to maximize the return of the invested but maximize strategic influence, speed matters more than the price. Close before someone realizes what you are really buying. Microsoft has been consolidating the purchase of Blizzard Activision for two years. This goes quickly. Jared Kushner, Trump’s son -in -law, is in this operation, according to the Financial Timesand not by chance. Its background, Affinity Partners, He received 2,000 million from the Saudi Pif after leaving the White House. Now returns the favor: its presence converts a foreign purchase into an operation “led by Americans”, which reduces the scrutiny of the Foreign Investment Committee (CFIUS). While he appears as a consortium architect, the White House will see partners and not threats. It can be replicated that this is only economic diversification, petrodollars looking for return in entertainment. If so, why not buy Netflix, Disney or Spotify? Why specifically the sector where you can shake what millions of teenagers do for thousands of hours a year without appearing propaganda? The amazing thing is not that this happens. Soccer has accustomed us to Saudi laundering. The hallucinating thing is that almost nobody questions it. The best way to exercise power and influence is that it simply seems fun. LOOT Boxes And seasonal passes while nobody wonders who decides what to normalize in those worlds. And when you take out a stock market company (what will happen with EA), you eliminate the quarterly transparency obligation, you no longer have to account for western scrutiny shareholders and you can make subtle adjustments that no one will detect until it is too late. Nothing scandalous. Only small changes in narratives, representations, progression systems that, multiplied by 500 million players for years, move entire cultural needles. That is the perfect conquest. In Xataka | This game has been scheduled by only one person, and there is already talk of him as one of the great Shooters of the year Outstanding image | Xataka

The Sovereign Saudi Fund Buy Electronic Arts for 55,000 million dollars

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Post in development The rumors of this weekend They gave in the nail: Electronic Arts has finally been acquired by an investment group Headed by the sovereign Fund of Saudi Arabia and Private Investment firms Affinity Partners, owned by Jared Kushner –Donald Trump son -in -law-, and Silver Lake. The agreement values ​​each at $ 210 (a 25% premium on the current cost of each), since the price of them had fired more than 15% Since the rumor came out this weekendwhich may have accelerated the purchase. This is the greatest purchase operation of this type in history: a company that quotes and gets it out of stock market is acquired. It exceeds in that sense the value of 45,000 million dollars that in 2007 had cost the purchase of the Texas Txu public services group. The greatest cash operation is also treated to date in what we have been. The rumor of which The Wall Street Journal echoed He spoke of 50,000 million dollars, before the price of the shares rose. Thus closes what is the second most important purchase in the history of video games, surpassed only for the sale of Activision Blizzard to Microsoftwhich cost 68.7 billion dollars and a few headaches for the company, since it had to face a series of anti-monopoly processes. As for the changes that may be in the EA managerial organization chart, Andrew Wilson, executive director of EA for years, will continue in the group. He will continue to direct the company after the closure of the acquisition in the first half of 2027. With this step, Saudi Arabia becomes one of the main actors in the video game industry: EA not only has very important sports franchises such as EA Sports FC, Madden either NHLbut also icons that can now take renewed forces, such as THE SIMS, Battlefield either Need for Speed. It is a movement perfectly in line with the purchases from the actions of weight brands such as Nintendo either Capcomor its investment in areas such as eSports, hosting some championships In what many observers, as Amnesty International, have described as Sportswhing. They open up with this action of uncertainty for EA, since the company does not speak in its press release about How could it affect the company’s template. Recall, in addition, that Electronic Arts is notorious for having given Sagas Green Light such as ‘Mass Effect’ or ‘Dragon Age’, whose content could collide frontally with the policy of a country very little tolerant With policies queer and integrators that marked the themes of these games. One of the many precedents in that regard: a DLC of ‘Assassin’s Creed Mirage’ financed by Saudi Arabia and set in the country met with the Protests of a good part of the template of Ubisoft. In Xataka | Saudi Arabia plays with fire: he wants more fee, content Trump and finance his energy transition

The Saudi strategy is not only economical, it is also political

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Fifty years after the Arabic embargo of 1973, which fired prices and changed the world economy forever, OPEC+ moves again. This time, it is still in the opposite direction. Instead of restricting the offer to make crude oil, the group led by Saudi Arabia and Russia has decided to continue with the open tap. The announcement that stirred the market. The decision came after a video call between eight key countries of the OPEC+. According to the press releasethe group will add 137,000 barrels per day in October, first step to dismantle 1.66 million b/d that were still frozen until 2026. The context matters: in April, the block had already surprised returning 2.2 million B/D a year earlier than expected. This acceleration resulted in a 12% drop in crude oil prices so far from 2025, According to Bloomberg. The market immediately reacted. As Reuters has collectedBrent rebounded 1.95% up to $ 66.78 and WTI 1.94% up to 63.07. Analysts such as Ole Hansen (Saxo Bank) have interpreted the reaction as a classic “sells with the rumor, buys with the fact”: the increase was lower than anticipated, which relieved fears of immediate oversupply. But why does the open tap continues? As Bloomberg has pointed outthe poster has abandoned the role of “price defender” and has pivated towards the recovery of market share. In addition, Saudi Arabia demands compensation to countries that have overcover, such as Kazakhstan, Iraq or United Arab Emirates. The gradual increase allows us to emphasize quotas and reveal who really has the capacity to pump more and who does not. A deeper goal. The movement also has a political reading. According to BloombergMohammed Bin Salman will visit Washington in November, and the increases send a sign of goodwill to President Donald Trump, which has been demanding lower prices for months as a measure to contain inflation. Reuters He recalled That Trump has even hinted at a second phase of sanctions to Russia, which reinforces the logic of lowering oil. The play also exposes an American contradiction. As we have detailed in Xatakalower prices relieve inflation and give political air to Trump, but at the same time suffocate fracking, cornerstone of the energy independence that he claims. Many shale companies need quotes of $ 60–65 to be profitable. If the Brent falls below that threshold, Trump’s “victory” over cheap gasoline could become a blow to one of the strategic sectors of his own country. RUsia quiet in the OPEC+. In theory, Moscow should oppose: you need high prices to finance its war in Ukraine. In practice, accept the Saudi plan. In fact, Russia He already asked for a pause in Julysupported by Algeria and Oman, but was ignored. The Russian lifeguard is in Asia. As the BBC explainedPutin met in Tianjin with Xi Jinping and Narendra Modi at the Shanghai cooperation organization. There he reinforced his links with the two largest buyers of his crude. On the one hand, China imported more than 100 million tons of Russian oil in 2024, almost 20% of its energy purchases. On the other, India multiplied its purchases to 140,000 million dollars from 2022, after western sanctions. These clients, attracted by Russian discounts, are lifeguard that allows Moscow to tolerate lower prices in the OPEC+. For Modi, in addition, challenging Washington’s pressures reports internal political benefits, According to the BBC. Why don’t prices sink? Despite the increase in supply, crude prices have remained surprisingly stable. Several factors help explain this resilience. First, the increases have been more nominal than real: effective production is below what announced, According to The New York Times. To this is added the threat of new sanctions against Russia, which maintains a risk premium in the market. In addition, barriles return the “safety network” of idle capacity, which paradoxically limits the bearish pressure by leaving less margin against disruptions, Bloomberg warns. Finally, the Saudi “boldness” has reinforced the confidence of the operators: after the initial drop of 2025, the Brent stabilized around 66–67 dollars. The Saudi paradox. In parallel, Saudi Arabia is reducing its internal oil consumption to release barrels to the international market. As we have pointed out in Xatakathe kingdom displays solar and storage projects that replace crude oil in electricity generation. The logic is simple: each solar megavatio is equivalent to an extra barrel to export. This strategy strengthens its role in OPEC+, but generates fiscal tensions that have already forced megaprojects such as Neom, which is an early sign that the offensive to gain fee can hit the heart of the Saudi reformist agenda. Horizon 2026. Beyond the present, the look is set in the future. According to ReutersGoldman Sachs projects a slight surplus in 2026 for supply improvements in the Americas and the weakening of Russian crude. Its forecast places the Brent in 56 dollars and the WTI on 52 on average that year. The Saudi strategy seeks precisely to reach that scenario with greater share and margin to cut if necessary. According to Financial Timesthe real impact of October increase could be much more modest than it seems. Although the OPEC+ announced 137,000 additional daily barrels, analysts estimate that the effective figure will be around 60,000 b/d, since most countries involved pump almost at full capacity. Only Saudi Arabia and, to a lesser extent, United Arab Emirates have real maneuvering margin. The decision, however, has an internal function: Riad takes advantage of the return of barrels to measure the production capacity of each member with a view to renegotiating quotas in the future. The true test will arrive in the fourth quarter of 2025, when the market must absorb a greater flow of crude oil in full season of weaker demand. Chronicle of an announced break. In 1973, the OPEC paralyzed the West with an embargo that triggered prices. Half a century later, the same poster changes course: it floods the market to gain share, satisfies Donald Trump, discipline to the shale and seeks to reaffirm internal leadership. The movement is not … Read more

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

A Saudi prince wanted to spend his vacation sailing through Greece. There were so many who had to rent luxury cruise

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Nor the more opulent superyates They seem to be enough when it comes to the holidays of the Saudi royal family. Muqrin Bin Abdulazizancient heir prince of Saudi Arabia and brother of the current monarch Salman Bin Abdulaziz, has given what to talk after arriving with an entourage formed by more than 100 people to Greece to enjoy their summer vacations. Although the Saudi prince has his own superyte valued at more than 150 million dollars, the SOLANDGEthe boat does not have enough space to accommodate all the entourage that accompanied him, but that was not going to ruin his vacation. It was time to rent something bigger. Something like a floating luxury hotel with a crew of 250 people at your service. Spectacular deployment to receive the prince According to detailed Luxury launchesthe heir express of Saudi Arabia arrived in Greece earlier this week at the edge of the Boeing 747 that it uses as a private jet. But the prince did not travel alone. A delegation of almost 100 people was traveling next to him. According to the Greek media They captured The arrival of the Saudi Prince, at the time his plane landed, a convoy of luxury vehicles was waiting for him at the foot of the track ready to transfer his “intimate circle” to the coast of the Aegean. There the imposing luxury supereyate of more than 190 meters in length and 24 meters of manga owned by the hotel chain Ritz Carlton: he Evrima. This impressive luxury supery is part of the “floating hotels” fleet that the Hotel chain is expanding. The Evrima was the first luxury supereyate built by the Ritz-Carlton hotel chain that, as a curiosity, came out in 2022 of The viguese shipyards. Considered a five -star floating hotel, this boat was designed thinking about combining the privacy of a private yacht with the refinement and luxury of one of the hotels that the chain has distributed all over the world. The Evrima is much more than a yacht: with a weight of 25,000 tons and 190 meters in length, this sophisticated ship has 149 suites, all with private terraces and minimalist design finishes. Although the Evrima has capacity for 298 guests, Muqrin Bin Abdulaziz has reserved it in its entirety, so during his journey through the Greek waters “only” he will be accompanied by his large entourage. To serve the prince and his more than one hundred companions, the yach luxury nautical industry. According to Ritz-Carlton Yacht Collection data, this proportion allows every detail to be carefully planned to guarantee a five-star experience in the high seas. A retirement in Greek waters The route chosen by Prince Muqrin has been the peaceful coast of the island of Corfú, in Greece, where the Evrima is currently navigating as the epicenter of his private vacations. The superyate has five gourmet restaurants, six exclusive rooms, a fully equipped gym, spa with full service and an infinite pool located in the stern. In addition, it has aquatic sports platform, private terraces to sunbathe and balineas beds distributed throughout the roof. Unlike other more active royalty members in social networks or in public appearances, Muqrin Bin Abdulaziz prefers to maintain a low profile, although the necessary deployments to mobilize their entourage make it unadverted to be complicated. For several days, the yacht will navigate under the Mediterranean sun without a single other host on board, with all the services focused solely on the prince and its guests. For someone who would like Emulate the holidays by Muqrin Bin Abdulaziz (accompanied by other cruise members, of course), a cruise on board the Evrime It would cost Between 6,900 and 11,300 euros per person, making different itineraries for different Greek islands. Thanks to this spectacular maritime operation, 2025 leaves us the image of a real Saudi court sailing through Greece, attended by more than 246 crew. Another example of the power and undeniably luxurious power of the Saudi Royal Family. In Xataka | A single millionaire spent on his luxury vacation in Mallorca the equivalent of 10,000 tourists: the Emir de Catar Image | Ritz Carlton

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

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