黑料社区

Here鈥檚 what to expect in 黑料社区鈥檚 sky in the near future

Special Here鈥檚 what to expect in 黑料社区鈥檚 sky in the near future
黑料社区 is targeting handling 330 million passengers annually by 2030. Getty
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Updated 10 May 2025

Here鈥檚 what to expect in 黑料社区鈥檚 sky in the near future

Here鈥檚 what to expect in 黑料社区鈥檚 sky in the near future

RIYADH: Increased technology integration and greater connectivity over the next five years will see 黑料社区 cement its position as a global aviation hub, experts have told Arab News.

In a comprehensive assessment of the Kingdom鈥檚 air sector, analysts and industry insiders have set out how investment in infrastructure, the roll out of new airlines, and a focus on sustainability will see 黑料社区 reach its Vision 2030 goals.

The Kingdom is targeting handling 330 million passengers annually across 250 destinations by the end of the decade, as well as聽 transporting 4.5 million tonnes of cargo.

The industry laid the groundwork for this growth in 2024, achieving record-breaking results with the 94 million passengers transported representing聽 a 15 percent year-on-year increase, alongside a 10 percent rise in flight activity, and a 52 percent boost in air cargo, to reach nearly 1 million tonnes.

The International Air Transport Association鈥檚 Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi told Arab News that the Kingdom is preparing for the aviation sector to play an even bigger role in its future.聽

鈥淥ver the next five years, we expect continued development in digitalization and connectivity, and for 黑料社区 to be in an even stronger position as a global hub, driving economic and social growth for the Kingdom,鈥 he said.

Al-Awadhi also emphasized that the nation鈥檚 regulatory reforms and commitment to sustainability will be key factors in attracting international airline partnerships and investment.聽

He added: 鈥淕ACA鈥檚 (the General Authority of Civil Aviation) revision of its charging scheme, to make Saudi airports more competitive in the region, is a positive step, now and for the future. As is its establishment of an independent economic regulatory framework.鈥

The top official noted that 黑料社区 is the first country in the Middle East and North Africa to do this, and encouraged others to follow.

Riyadh Air 鈥 a portal to the Kingdom

A key development in the sector is the highly anticipated debut of Riyadh Air, 黑料社区鈥檚 new full-service airline, set to launch in 2025.聽

The company has made significant strides in preparation for its release, including major aircraft acquisitions, strategic alliances, and technological investments.

Mark Bothorn, principal of innovation practice at Arthur D. Little Middle East, highlighted that the launch of Riyadh Air is a 鈥渨atershed moment for 黑料社区鈥檚 aviation sector 鈥 an event of this scale and significance happens perhaps once a decade.鈥

He added: 鈥淎s a full-service national flag carrier, Riyadh Air will not only enhance domestic connectivity but also position the Kingdom鈥檚 capital as a major global aviation hub.鈥

Bothorn further anticipated that the new national carrier would serve as an ambassador for 黑料社区, embodying the nation鈥檚 vision through cutting-edge design, unparalleled guest experience, and world-class connectivity. 鈥淭he way the world perceives Riyadh will, in many ways, be shaped by the experiences this airline delivers,鈥 he added.




Mark Bothorn, principal of innovation practice at Arthur D. Little Middle East. Supplied

The airline has ordered 60 Airbus A321neo jets, with plans for additional wide-body aircraft this year. It has secured agreements with Singapore Airlines, Air China, and Delta Air Lines to enhance interline connectivity, codeshare operations, and frequent flyer benefits.

Riyadh Air is collaborating with Artefact to develop an advanced data analytics platform that aims to offer hyper-personalized services and seamless digital-first experiences. Its initial routes will connect 黑料社区 to major cities in Europe, North America, and Asia, enhancing its international connectivity.




Riyadh Air plans to connect with more than 100 cities by 2030. Shutterstock

The Kingdom鈥檚 existing airlines are also undergoing significant transformations to cater to the growing demand and enhance international reach.聽

Saudia has placed a historic $19 billion order for 105 Airbus A320neo aircraft to expand its fleet, set for delivery starting in 2026.

Additionally, the airline is enhancing its maintenance and repair capabilities through a partnership with Air France-KLM. Flyadeal, Saudia鈥檚 budget airline, aims to double its fleet to 100 aircraft by 2030, offering affordable travel options across domestic and regional routes.

Flynas, the region鈥檚 top low-cost airline, secured a 280-aircraft deal, including Airbus A320neo and A330neo models, to support its aggressive expansion strategy. The airline also introduced new routes connecting 黑料社区 to Africa and Europe.

Bothorn commented on the impact of heightened market contenders, saying: 鈥淚ncreased competition is always a catalyst for innovation and improvement, and in 黑料社区鈥檚 aviation sector, it will lead to two transformative outcomes.鈥

First, enhanced connectivity will strengthen Riyadh鈥檚 position as a global business hub by providing seamless access to international markets through more flights and improved routing.

Second, Riyadh Air, unburdened by legacy systems, has the potential to redefine air travel, setting new benchmarks in passenger experience and efficiency, according to Bothorn.

Airport infrastructure soars聽

To handle the volume that new airlines will be attracting, 黑料社区 is investing heavily in airport infrastructure.聽

King Salman International Airport in Riyadh is set to become one of the world鈥檚 largest airports, with ongoing developments led by global firms including Foster & Partners and Jacobs Engineering. The airport will increase its capacity to accommodate 120 million passengers by 2030.

King Khalid International Airport鈥檚 expansion includes upgrades to Terminals 1 and 2, increasing capacity to 14 million passengers annually. Saudia鈥檚 deal with German aerospace company Lilium NV will introduce 50 electric vertical takeoff and landing jets, making it the first airline in the region to invest in sustainable air travel.

Bothorn emphasized the impact of airport infrastructure advancements. 鈥淔or many travelers, the airport experience is often the most stressful part of a journey 鈥 navigating terminals, dealing with security bottlenecks, and enduring long waits.鈥

He added: 鈥淎 seamless integration between the airport and airlines can dramatically transform this, replacing frustration with efficiency and even moments of delight.鈥

Bothorn envisioned airports that proactively anticipate passenger needs, with real-time updates enabling travelers to relax in lounges or dine rather than wait at gates.




An impression of how聽King Salman International Airport will look when construction is completed. File

Investment turbines spin

黑料社区鈥檚 business aviation sector is thriving, driven by an influx of high-net-worth individuals and economic expansion. The sector, valued at $1.2 billion in 2023, is expected to grow at an annual rate of 8.88 percent from 2025 to 2029.

GACA is further boosting this sector by removing restrictions on foreign on-demand charter flights, allowing international operators to enter the domestic private aviation market starting in May.

Infrastructure and transportation developments outlined in the 2025 Saudi budget report reinforce these aviation ambitions. The gross domestic product of the transportation and logistics sector grew by 6.4 percent in the first half of 2024.

Total investment contracts signed in this sector amounted to over SR200 billion ($53.3 billion). 黑料社区 has also strengthened its global presence by securing key positions in international aviation organizations, including hosting the UNCTAD Global Supply Chain Forum in 2026 and chairing the Executive Council of the Arab Civil Aviation Organization.

To enhance aviation services, the Kingdom has looked to implement modern and eco-friendly transportation initiatives during the Hajj season, including self-driving taxis, smart delivery vehicles, and increased aircraft seat capacity for pilgrims. Performance-based operations and maintenance contracts have been executed to enhance asset management efficiency.

Plans for 2025 include SR42 billion allocated for the infrastructure and transportation sector, which will witness the launch of several travel lounges across international airports, licensing new national air carriers, and expanding public bus networks to improve intercity and regional connectivity.

Al-Awadhi of IATA further elaborated on the nation鈥檚 role in shaping global aviation policies. 鈥淢any countries in the region look to 黑料社区 for developing their aviation sectors, so the Kingdom plays an important role in shaping regional policies.鈥

Recent work revamping economic regulation related to consumer protection, safety and security has been followed by other countries in the region, according to the top official.

鈥淲e鈥檙e stronger as an industry when standards are aligned, not just regionally but globally,鈥 he added.

Private jets and 黑料社区鈥檚 aviation roadmap

黑料社区 has made developing the private aviation market a key part of its roadmap for the sector, with the charter and corporate jet segments being supported by infrastructure upgrades such as six new general aviation airports.

The sector鈥檚 growth aligns with Vision 2030鈥檚 diversification efforts, particularly in tourism and entertainment, with destinations like AlUla and the Red Sea International Airport, capable of handling 1 million tourists annually, driving demand.聽

During 2024鈥檚 Future Aviation Forum, GACA unveiled a roadmap aimed at increasing the general aviation sector鈥檚 contribution to GDP, targeting a tenfold growth to reach $2 billion by 2030. The plan encompassed the business aircraft sector, including private charter flights and corporate aviation.

Sustainability is another focus, with GACA鈥檚 plan targeting net-zero emissions by 2060 through initiatives such as sustainable aviation fuel and AI-driven efficiency optimizations. However, challenges, including limited sustainable aviation fuel supply, remain.聽




The International Air Transport Association鈥檚 Regional Vice President for Africa and the Middle East Kamil Al-Awadhi. Supplied

Sustainable skies ahead

IATA鈥檚 Al-Awadhi highlighted the recent deal between Red Sea Global and daa International to introduce sustainable aviation fuel at Red Sea International Airport as 鈥渁 positive step for 黑料社区 and the region鈥 when it comes to developing a more ecologically friendly sector.

The 35 percent SAF blend, supplied by Arabian Petroleum Supply Co., reduces aircraft emissions by up to 35 percent per flight, aligning with RSG鈥檚 broader sustainability efforts, including 400 megawatt-peak of solar installations and plans to plant 50 million mangroves by 2030.

The airport, operational from 2023 and with international flights beginning in 2024, serves the growing Red Sea destination, set to feature 50 resorts by 2030.

The next five years will bring transformative benefits for travelers flying to and from 黑料社区. Expanded airline networks will improve connectivity, reduce layovers, and increase travel convenience.

The rise of low-cost carriers like flyadeal and flynas means more budget-friendly flights for domestic and international routes. AI-driven services, biometric security checks, and world-class airport infrastructure will streamline travel, making it more efficient and comfortable.

鈥淓xpect nothing short of a revolution in the way people travel,鈥 Bothorn said. He explained that long queues at security and immigration, endless gate waits, and the anxiety of either rushing through the airport or arriving far too early 鈥渨ill become relics of the past.鈥 He projected air travel to become more intuitive and enjoyable.

Al-Awadhi added that 黑料社区 is investing heavily in digital processing of passengers and integrating latest technologies at airports.聽

鈥淲e can certainly expect better passenger experience and customer service,鈥 he said, adding: 鈥淎irlines are also updating their fleets so travelers will be flying on the latest aircrafts, enjoying what new technologies have to offer. Improved connectivity will provide travelers with more choices, enhancing the overall customer experience.鈥

Investments in eVTOL aircraft and eco-friendly practices signal a shift toward greener aviation. 黑料社区 is undergoing a historic transformation in its aviation sector, with massive investments, strategic expansions, and cutting-edge innovations that will redefine the travel experience.

By 2030, the Kingdom aims to be a premier global aviation hub, offering world-class connectivity, seamless air travel, and state-of-the-art airport facilities.


黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽
Updated 25 sec ago

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

RIYADH: 黑料社区 is on course to sustain non-oil sector annual growth of 4.5 percent to 5.5 percent through the next five to 10 years as its Vision 2030 diversification program gathers pace, Moody鈥檚 have forecast. 

The rating agency cited strong momentum from services, tourism, and a pipeline of mega events including the 2027 AFC Asian Cup, the 2030 World Expo, and the 2034 FIFA World Cup, all of which are expected to reinforce the Kingdom鈥檚 non-oil expansion and attract sustained private investment.  

Other rating agencies and consultancies share a similar outlook. Fitch Ratings expects 黑料社区鈥檚 non-oil growth to average around 4.5 percent through the medium term, while BMI and Strategic Gears forecast continued expansion in tourism and exports, reflecting broad confidence in the Kingdom鈥檚 Vision 2030 diversification momentum. 

This comes on the back of 黑料社区鈥檚 latest estimate, released on Sept. 30, in which the Ministry of Finance forecast real gross domestic product growth of 4.6 percent in 2026, supported by continued expansion in non-oil activities. 

The ministry鈥檚 pre-budget statement set the 2025 projection at 4.4 percent, driven by a 5 percent increase in non-oil output, underpinned by robust domestic demand, rising employment, and expanding private-sector investment. 

In its latest report, Moody鈥檚 stated: 鈥淣on-oil economic growth, particularly in the services sector, will remain robust as the large-scale projects are implemented and gradually commercialize.鈥 

The agency cautioned that progress on some flagship projects is uneven amid supply bottlenecks, engineering challenges and tighter funding conditions.  

Moody鈥檚 expects authorities to keep diversification outlays relatively high even as oil prices soften, leading to 鈥渕oderate fiscal deficits鈥 and a rise in government debt to more than 36 percent of GDP by 2030 from about 26 percent at end-2024. 

In a separate report on the banking system, Moody鈥檚 said strong credit demand linked to Vision 2030 projects and mortgages has outpaced deposit growth, pushing the sector鈥檚 loan-to-deposit ratio above 100 percent for the first time since 2021 and sustaining reliance on alternative funding.  

鈥淲hile domestic deposits are increasing, mainly supported by inflows from government entities and large companies, credit demand continues to grow at a faster pace,鈥 said the agency.

It noted that Saudi banks have diversified into capital-market issuance and syndicated loans; total bank issuance reached SR56 billion ($14.93 billion) in 2024, up from SR21 billion in 2023, with similar levels expected this year before easing as loan and deposit growth re-align. 

The report added that the Saudi Central Bank has moved to bolster resilience, introducing a 100-basis-point countercyclical capital buffer effective in 2026 and monitoring foreign-currency liquidity and stable-funding ratios 鈥 steps that could moderate loan growth at some institutions.  

Moody鈥檚 also highlighted the role of the Saudi Real Estate Refinance Co. in easing liquidity pressures, with SRC鈥檚 acquired portfolio rising to about 4 percent of the mortgage market and the launch of the Kingdom鈥檚 first residential mortgage-backed security in August, initially for local investors.  

Market funding brings its own risks, Moody鈥檚 said, pointing to a near-doubling of foreign funding as a share of liabilities since 2020 and the banking system鈥檚 net foreign-asset position turning negative in 2024.  

While the agency sees a loss of confidence as unlikely over the next 12 to 18 months, it warned that an abrupt shift could pressure renewals; measured diversification by tenor and geography would help mitigate that risk.  

Another new report by Moody鈥檚 on nonfinancial companies revealed that investment and reforms are lifting multiple non-oil sectors 鈥 hospitality and retail, manufacturing, mining and real estate among them 鈥 even as borrowing needs rise and credit outcomes diverge.  

Moody鈥檚 estimates that cumulative private-sector investments of close to SR8 trillion will be needed by 2030 to sustain growth, with the Public Investment Fund remaining central to catalyzing co-investment.  

PIF鈥檚 direct role is set to remain substantial. Moody鈥檚 projects up to SR1 trillion of PIF investment by 2030 鈥 on top of about SR642 billion over the past five years 鈥 while around SR7 trillion from other private participants will be required to maintain non-oil momentum.  

The scale and complexity of projects such as Neom introduce execution risk, but phased investment and tighter oversight should support delivery.  

Utilities will carry some of the heaviest capital burdens as the energy mix targets a 50/50 split between renewables and gas by 2030. 

Moody鈥檚 estimates at least SR750 billion of sector investment across 2019 to 2030, with the National Renewable Energy Program having launched roughly SR440 billion of projects since 2019. The Ministry of Energy plans to tender about 130 gigawatts of renewable capacity by 2030.  

As of mid-2025, renewables accounted for around 9 GW 鈥 about 10 percent of total generation capacity.  

Saudi Electricity Co., the sole transmitter and distributor, is accelerating grid expansion and interconnections and expects its regulated asset base to grow with elevated capital spending 鈥 rising from an average SR29.4 billion per year since 2019 to about SR50 billion to SR55 billion annually in 2025-30.  

Higher investment needs will strain free cash flow and liquidity, though a supportive regulatory framework and increased indirect subsidies 鈥 SR10.8 billion in 2024, or 12 percent of revenue 鈥 provide offsets.  

Across capital markets, Moody鈥檚 expects more Saudi corporates to tap equity and debt as regulatory upgrades broaden participation, with national champions and private companies aiming to balance expansion with prudent leverage.  

That trend, it said, should gradually deepen the domestic market, diversify funding sources and support a more resilient financing ecosystem. 


Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov
Updated 09 October 2025

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

RIYADH: Saudia, Alrajhi Bank, and Albaik are the top three most persuasive brands in 黑料社区 when it comes to getting people to buy their products, according to a new survey. 

A report from market research and data analytics firm YouGov analyzed shopping attitudes in the Kingdom and compiled a list of companies leading in convincing consumers to spend on their brands. 

The analysis found that retail banks, beauty firms, and telecoms and handset providers are the most successful at converting people who would consider buying their products into those who intend to do so.  

According to the report, Saudia topped all brands across every category, with 72 percent of respondents intending to use the airline once it was considered as an option. 

Alrajhi Bank came second with a conversion rate of 70 percent, followed by Albaik at 65 percent, Almarai at 65 percent, and Apple at 62 percent.  

Toyota followed with a conversion rate of 55 percent, while Samsung and Hilton recorded conversion rates of 49 percent and 47 percent, respectively, once customers began considering their products. 

The survey also found that Huda Beauty has a conversion rate of 45 percent, followed by Dior Beauty at 43 percent. 

Category breakdown  

Among non-carbonated beverage brands, Almarai secured the top spot among Saudi buyers, followed by Saudia, Nadec, Lipton Ice Tea, and Nova. 

Almarai鈥檚 top position comes just months after the company signed an agreement to acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and strengthen its market position. 

Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its 鈥淚val鈥 and 鈥淥ska鈥 brands. 

In the retail banking category, Alrajhi Bank is the most successful at converting customers considering its services into those who intend to use them. 

Alrajhi Bank is followed by Saudi Awwal Bank, Saudi National Bank, Alinma Bank, and Riyad Bank. 

In September, Alrajhi Bank earned an 鈥淎A鈥 rating from MSCI鈥檚 global environmental, social, and governance benchmark, becoming the only financial institution in 黑料社区 to achieve this distinction. 

The recognition also placed the financial institution among the top five banks worldwide with an 鈥淎A鈥 or higher ESG rating, underscoring its leadership in sustainable practices.  

Among beauty brands, Huda Beauty garnered the top spot for conversions, while Dior Beauty, Mac Beauty, Chanel Beauty, and Makeup Forever Beauty made up the remaining popular companies in the segment. 

With a conversion rate of 38 percent, Amazon was named the most persuasive retailer in the Kingdom, followed by Al Othaim, Panda, Lulu Hypermarket, and Shein.  

Apple topped the list among consumer electronics and appliances brands, with Samsung, Huawei, LG and PlayStation grabbing the remaining slots in the top five list.  

Albaik was named the most persuasive brand in the dining, restaurants and eateries category. Other entrants in the list include Hungerstation, McDonald鈥檚, Al Tazaj, and KFC.  

According to YouGov, Toyota is the most persuasive vehicle brand among Saudi customers, followed by Mercedes-Benz, Land Rover, Lexus, and BMW.  

Among hotels and resorts, Hilton topped the list, while the remaining entrants included InterContinental, Movenpick, Hyatt, and Ritz-Carlton.  

Saudia was named the most persuasive travel and airline brand among Saudi customers, followed by Egypt Air, flynas, Emirates, and Almosafer.  

Affinity toward home-made brands 

According to the YouGov survey, six out of 10 residents in 黑料社区 prefer to buy products made in their home country.  

The report revealed that 63 percent of the survey participants aged above 55 prefer products made in 黑料社区.  

Among people aged from 18 to 24, 58 percent prefer buying homemade products, and this figure rises to 60 percent among people between the ages of 25 and 34, and 61 percent among 35- to 44-year-olds.  

The report further said that 58 percent of the participants between the ages of 45 to 54 prefer buying products made in the Kingdom. 


Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽
Updated 09 October 2025

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index closed higher on Thursday, rising 24.04 points, or 0.21 percent, to end at 11,583.31. 

The total trading turnover for the main index stood at SR4.70 billion ($1.24 billion), with 254.9 million shares changing hands. A total of 119 stocks advanced, while 127 declined. 

The MT30 index, which tracks the performance of the top 30 companies by market capitalization, edged up 2.13 points, or 0.14 percent, to 1,509.75. The Nomu parallel market also climbed 112.17 points, or 0.44 percent, to close at 25,805.42, with 47 gainers and 37 losers. 

Saudi Automotive Services Co. was the session鈥檚 top performer, surging 9.96 percent to SR65.15. 

It was followed by Aldrees Petroleum and Transport Services Co., which gained 6.93 percent to SR142, and Riyadh Cables Group Co., which rose 5.48 percent to SR136.60. 

Other notable gainers included Dallah Healthcare Co., advancing 3.24 percent to SR153, and Liva Insurance Co., which added 2.90 percent to SR13.50. 

On the losing side, Gas Arabian Services Co. fell 4.02 percent to SR16.24, while Methanol Chemicals Co. dropped 3.08 percent to SR10.39. 

Halwani Bros. Co. declined 2.23 percent to SR39.54, followed by Batic Investments and Logistics Co., which slipped 2.16 percent to SR2.27, and National Metal Manufacturing and Casting Co., down 1.93 percent at SR17.30. 

On the announcement front, Rabigh Refining and Petrochemical Co. announced the resignation of two board members, including Noriki Takanishi, vice chairman of the board, and Tetsuo Takahashi, a member of the Audit Committee. 

The company said the resignations are linked to the recent completion of Saudi Aramco鈥檚 acquisition of Sumitomo鈥檚 22.58 percent stake in Petro Rabigh, following a share sale transaction between Saudi Aramco and Sumitomo Chemical Co. Ltd. 

The board also approved the appointment of Abdullah Al-Suwehfer and Hamad Al-Daghther as new non-executive members, pending ratification by the general assembly. Shares of Petro Rabigh closed 2.47 percent higher at SR7.90. 


Arab Energy Organization firms post record $280m profit

Arab Energy Organization firms post record $280m profit
Updated 09 October 2025

Arab Energy Organization firms post record $280m profit

Arab Energy Organization firms post record $280m profit

JEDDAH: Arab energy companies posted record net profits of over $280 million in 2024 鈥 their highest ever 鈥 driven by strong business volumes and strategic initiatives, according to the Arab Energy Organization. 

The achievement reflects the resilience of Arab energy firms amid volatile markets and follows efforts to modernize operations and strengthen coordination across member states, said Secretary-General Jamal Al-Loughani during the opening of the organization鈥檚 54th Annual Coordinating Meeting. 

He stressed the importance of providing necessary support to foster growth, enhance prosperity, and achieve their founding objectives, the Kuwait News Agency, or KUNA, reported. 

鈥淎l-Loughani underscored the need to build on previous meetings and their positive outcomes, moving toward a new phase that opens avenues for cooperation among affiliated companies and with national companies of a similar nature and activity in member states,鈥 KUNA reported. 

The official commended the companies鈥 efforts, describing them as a catalyst for deeper Arab cooperation.  He highlighted their 鈥減ivotal and constructive role鈥 in fostering collaboration and creating opportunities to strengthen the petroleum industry across member states, despite challenges arising from regional and global market conditions. 

Al-Loughani also highlighted the 鈥渃ontinuous and constructive鈥 communication maintained between the General Secretariat and the affiliated firms through designated liaison officers, KUNA reported. 

During the meeting, representatives of the organization鈥檚 affiliated companies reviewed major activities for 2024 and the first half of 2025, including commercial and technical operations, financial results, human resources activities, and training programs.  

They also presented several plans and projects aimed at enhancing performance, adapting to current market fluctuations, and maximizing revenue. 

The meeting was attended by representatives of the Arab Shipbuilding and Repair Yard Co., or ASRY, the Arab Energy Fund, the Arab Petroleum Services Co., the Arab Drilling and Workover Co., and the Arab Well Logging and Well Services Co. 

The Arab Energy Organization, formerly known as the Organization of Arab Petroleum Exporting Countries, was restructured and renamed in December following a Saudi-led proposal to broaden its mandate beyond oil to cover the wider energy sector. 

黑料社区鈥檚 ACWA Power, a major renewable energy firm and one of the region鈥檚 key players, reported a 2024 net profit of SR1.75 billion ($466 million), up 5.7 percent year on year, underscoring the Arab energy sector鈥檚 gradual shift toward sustainable growth. 


Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽
Updated 09 October 2025

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

RIYADH: Saudi Aramco completed the acquisition of an additional 22.5 percent stake in Rabigh Refining and Petrochemical Co., known as Petro Rabigh, from Japan鈥檚 Sumitomo Chemical Corp. for $702 million.  

The acquisition, valued at SR7 ($1.87) per share, raises Aramco鈥檚 total ownership to 60 percent and makes it the largest shareholder, while Sumitomo retains 15 percent, the company said in a press release.

The transaction, first announced in August 2024, includes a $1.4 billion capital injection jointly provided by Aramco and Sumitomo to partly prepay Petro Rabigh鈥檚 debt and bolster its balance sheet.

The acquisition marks a significant step in Aramco鈥檚 ongoing strategy to expand its integrated refining, chemicals, and marketing operations.

Hussain Al-Qahtani, Aramco senior vice president of fuels, said: 鈥淧etro Rabigh is a key player in the Kingdom鈥檚 downstream sector and this additional investment by Aramco reflects strong belief in its long-term prospects. It also underscores Aramco鈥檚 focus on downstream expansion and value creation.鈥

He added: 鈥淲e look forward to exploring closer integration with Petro Rabigh, with the aim of unlocking new opportunities and complementing Petro Rabigh鈥檚 broader transformation objectives, which include upgrading its product mix, enhancing asset reliability and optimizing operations.鈥 

The company said the deal underscores its commitment to value creation, business integration, and portfolio diversification across the downstream sector.

It also enhances Aramco鈥檚 capacity to support Petro Rabigh鈥檚 transformation program, which targets operational upgrades, improved yields of high-margin products, and greater plant reliability. 

The Petro Rabigh deal follows a series of acquisitions underscoring Aramco鈥檚 strategy to expand its downstream and international footprint. In 2025, the company acquired a 50 percent stake in Blue Hydrogen Industrial Gases Co. to strengthen its position in low-carbon hydrogen production. 

Late last year, Aramco purchased a 10 percent stake in Horse Powertrain Ltd., advancing its presence in hybrid and internal combustion powertrain technologies, and completed the full acquisition of Chile鈥檚 Esmax Distribucion SpA 鈥 its first downstream retail investment in South America. 

As part of the August 2024 deal, the funding will be executed through Class B shares, fully subscribed by both shareholders, allowing Petro Rabigh to receive new capital without altering its governance framework or diluting other shareholders鈥 voting rights. 

Aramco and Sumitomo also waived $1.5 billion in shareholder loans in two stages 鈥 August 2024 and January 2025 鈥 improving Petro Rabigh鈥檚 capital structure and remediating accumulated losses.

The waiver improves the company鈥檚 capital structure and helps remediate accumulated losses, providing a stronger foundation for future growth.

As of 12:08 p.m. 黑料社区 time, Aramco鈥檚 share on the Saudi Exchange gained 0.38 percent to reach SR92.95, while Petro Rabigh鈥檚 shares rose 1.82 percent to SR7.84.