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Saudi Arabia

Saudi Arabia is a country located in the Middle East, occupying most of the Arabian Peninsula. The capital is Riyadh, and the country has a population of about 36-million people. Saudi Arabia possesses the world's second-largest proven petroleum reserves and is the largest exporter of petroleum globally, making oil and gas the dominant sectors of its economy. The currency is the Saudi riyal, which is pegged to the US dollar. The country operates as an absolute monarchy under the Al Saud royal family, with the King serving as both head of state and government. Saudi Arabia is a member of the Gulf Cooperation Council, the Arab League, the Organisation of Islamic Cooperation and the G20. The economy has historically been heavily dependent on oil revenues, which account for a substantial portion of government income and export earnings. In recent years, the government has pursued economic diversification through its Vision 2030 programme, aimed at reducing dependence on oil by developing sectors such as mining, tourism, entertainment and renewable energy. Saudi Arabia holds significant mineral resources beyond hydrocarbons, including gold, copper, zinc, phosphate and other industrial minerals, and has been actively seeking foreign investment and partnerships to develop its mining sector. The country plays a significant role in global energy markets through its influence in the Organization of the Petroleum Exporting Countries and its capacity to adjust oil production levels. Saudi Arabia was unified as a modern nation-state in 1932 by King Abdulaziz Al Saud, and oil was discovered in commercial quantities in 1938, transforming the country's economy and regional influence.

Saudi Arabia Updates


PyroFuZA can restore South Africa’s value-adding power.
South Africa can become strong value-add minerals player again, PyroFuZA points out
2nd June 2026 By: Martin Creamer

Look out for PyroFuZA. Those eight letters have the potential to make best use of South Africa’s natural resources and restore South Africa’s value-adding power, which, in turn, can help to foot... 


Artists impression of King Salman International Airport
King Salman International Airport, Saudi Arabia – update
29th May 2026 By: Sheila Barradas

The project has entered a new delivery phase. 


A pumpjack in Texas, in the US
Oil touches two-week high after drone attack on UAE nuclear power plant
18th May 2026 By: Reuters

Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as US President Donald... 


A generic image of clear float glass
Itac maintains dumping duties on clear float flass from Saudi Arabia, UAE
13th May 2026 By: Lumkile Nkomfe

The International Trade Administration Commission of South Africa (Itac) has recommended that existing anti-dumping duties of between 10% and 45% on clear float glass be maintained after finding... 


Denarius' Zancudo crushing plant
Denarius rescinds Emerita takeover offer, focuses on Saudi Arabia JV
8th May 2026 By: Marleny Arnoldi

Canadian gold and silver producer Denarius Metals has rescinded its unsolicited offer to acquire all of the issued and outstanding common shares of TSX-V-listed Emerita Resources Corporation. The... 


Diesel graphic
Diesel over R30 a litre in SA
8th May 2026

South Africans woke up to record-high fuel prices on May 6, 2026. A litre of diesel (50ppm) costs R31.38. It is the first time ever the price has gone over R30. A litre of 95 Octane in Gauteng... 


Az-Zour North Phase 2 & 3 independent water and power producer signing
Az-Zour North Phase 2 & 3 independent water and power producer, Kuwait/Saudi Arabia border
24th April 2026 By: Sheila Barradas

The project entails the construction of a combined-cycle gas turbine power plant fuelled by natural gas, with gasoil backup, alongside a seawater reverse osmosis desalination facility. 


Petrol
South Africa ramps up fuel imports from US as war jolts trade
23rd April 2026 By: Reuters

South Africa is boosting oil-product imports from the US to help replace lost supplies from the Middle East, in another example of how the conflict is reshaping trade and threatening higher costs... 


Fuel Industry Association of South Africa CEO Avhapfani Tshifularo
Industry body confirms shift in sources of South African fuel imports
20th April 2026 By: Terence Creamer

The Fuel Industry Association of South Africa (FIASA) has confirmed that fuel imports for the period from April to June will increasingly be sourced from regions outside of the Gulf and that there... 


Image of LNG pipeline
LNG import facility and power station, South Africa
17th April 2026 By: Sheila Barradas

The project proposes the construction of a combined-cycle gas-fired power station of up to 1 800 MW. 


Vale iron-ore operation
Iran war allows Australia to revive green iron ambitions
14th April 2026 By: Reuters

The conflict in the Middle East has cracked open the door for Australia to speed up the development of a handful of green iron projects as part of efforts to cut emissions from producing steel.... 


A map showing the location of the Waterberg project
PTM mulling partnerships with furnace operators to process Waterberg concentrate
13th April 2026 By: Sabrina Jardim

TSX- and NYSE-listed Platinum Group Metals (PTM) says it is investigating opportunities to collaborate and co-invest with smaller furnace operators in South Africa who are interested in modifying... 


Investors increasingly influenced by industrial policy and technology prowess, amid geopolitical tension
10th April 2026 By: Schalk Burger

Management consulting firm Kearney's ‘2026 Foreign Direct Investment Confidence Index’ reflects a global investment environment shaped by intensifying geopolitical tensions, expanding industrial... 


Australian flag
Australia delays publishing of resources, energy outlook for the first time
10th April 2026 By: Reuters

Australia's quarterly resources and energy outlook has been delayed for the first time owing to "extreme volatility" caused by the US-Israel war against Iran, which is rendering forecasts out of... 


An image of Tianlong's gas cylinder
Expo underscores importance of LPG for clean cooking, energy security
9th April 2026 By: Tasneem Bulbulia

Liquefied petroleum gas (LPG) is a clean, scalable and easily deployable solution for energy, and it also enables flexibility, which can bolster energy security at a time of heightened geopolitical... 


Post-war recovery of Middle Eastern oil and gas fields could take months
9th April 2026 By: Rebecca Campbell

Edinburgh, Scotland-based global energy and natural resources analytics, insights and proprietary data company Wood Mackenzie has warned that it would be months, after a ceasefire was achieved in... 


SA flag
SA outperforms Saudi, Greece in Bank of America equity market ranking
8th April 2026 By: Thabi Shomolekae

Government Communication and Information System acting government spokesperson Nomonde Mnukwa pointed out on Wednesday that despite a challenging global environment, South Africa’s financial... 


An image from the BRICS summit in South Africa
BRICS Plus countries increase gold reserves to more than 6 000 t
7th April 2026 By: Tasneem Bulbulia

Members of the BRICS Plus trade bloc now hold over 6 000 t of gold, representing about 17.4% of total global central bank reserves, up from 11.2% in 2019, financial services group EBC Financial... 


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pqt: 0.247s - ct: 0.311s - 274pq - 2rq
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