Saudi Aramco has disclosed plans to enter the Kingdom’s retail market by setting up gas stations fully owned by the company.
“We had already begun implementing this project by the end of last year,” said the company’s annual report without giving an exact date for launching the service.
The move comes as part of the Saudi oil giant’s strategy to become an integrated energy company that enters into more business ventures, including petrochemicals and the sales of refined products.
A team set up for this purpose is reportedly weighing several strategic options to expand the company’s operations. Aramco has already received approval for establishing a fully owned company for retail services.
The new company is licensed to build, operate and maintain service stations in selected areas. The company will not only run gas stations but also supermarkets and other services. Aramco has indicated that it could hand services other than fuel supply to potential partners who could add value to the company and its trademark.
Two international companies — Shell and Mobil — left the Kingdom’s retail market after suffering losses, said Ahmed Al-Falih, deputy chairman of the National Committee for Gas Stations.
He said one of the two had paid SR80 million for nine stations. “Gas stations face problems in acquiring licensing and manpower,” he said.
Foreign investors in the sector are required to have 10 years’ experience in management, operation and maintenance. “About 90 percent of station owners are small investors,” Al-Falih said.
Saudi Aramco to set up gas stations
Saudi Aramco to set up gas stations
Fam Foods, Kobe Beef Association partner to launch halal-certified beef in Saudi Arabia
- As part of the event, Fam Foods announced the upcoming opening of Hocho, a premium Kobe and wagyu-based restaurant set to launch in Via Riyadh
RIYADH: The introduction of halal-certified Kobe beef to the Saudi market was marked by an exclusive evening at the residence of Morino Yasunari, the Japanese ambassador to Saudi Arabia.
The event was hosted by Fam Foods, the only authorized reseller in the Kingdom, in collaboration with the Kobe Beef Association and highlighted the deepening cultural and culinary partnership between Japan and Saudi Arabia.
Guests enjoyed a unique atmosphere that blended heritage and contemporary celebration. They were welcomed with traditional Saudi coffee, a gesture reflecting the nations’ shared value of hospitality, while the decor also combined their traditions.
They were also treated to a culinary journey featuring authentic Japanese techniques, including teppanyaki preparations demonstrating the artistry and meticulous craftsmanship behind Kobe beef. The renowned Kimono Butcher captivated the audience with a masterful demonstration of beef cutting, symbolizing the precision and dedication synonymous with Japanese culinary heritage.
Princess Muneera Al Rasheed, chairwoman of Fam Foods, said during her address: “This evening celebrates more than just the introduction of halal-certified Kobe beef; it embodies the rich culinary and cultural partnership between Japan and Saudi Arabia. At Fam Foods, we are committed to innovating while safekeeping tradition — together, we are transforming premium dining experiences in the Kingdom.”
Shinnosuke Murakami, president of the Sanda Meat Center Export Expansion Consortium which oversees the export of Kobe from Japan, said: “Kobe beef represents the pinnacle of Japanese wagyu beef, renowned worldwide for its exceptional flavor, rich aroma and unparalleled tenderness.
“We are deeply grateful to His Royal Highness Faisal bin Bandar bin Sultan Al Saud, Her Highness Princess Muneera Al Rasheed, and the Fam Foods team for their ongoing support in this partnership and providing us the opportunity to share this wonderful delicacy with the people of Saudi Arabia and the Arab world.”
Traditional performances also added depth to the evening, connecting attendees to the cultural roots of Japan, with the serene melodies of a koto performance and the elegance of a flute recital bringing the event to life.
As part of the event, Fam Foods announced the upcoming opening of Hocho, a premium Kobe and wagyu-based restaurant set to launch in Via Riyadh. The venture is set to redefine Japanese dining in Saudi Arabia, offering an elevated culinary experience that brings the artistry of Japanese beef to the forefront.
Emir of Kuwait sends King Salman GCC Summit letter
- Message delivered to minister during meeting in Riyadh
RIYADH: King Salman has received a letter from the Emir of Kuwait Sheikh Meshal Al-Ahmad Al-Sabah inviting him to the Gulf Cooperation Council Summit.
The message was delivered to Minister of State Prince Turki bin Mohammed bin Fahd during a meeting in Riyadh on Tuesday with Kuwait’s Foreign Minister Abdullah Ali Al-Yahya.
The two sides held cordial talks and discussed issues of common interest.
The 45th GCC Summit takes place in Kuwait on Sunday.
King Salman asks people of Saudi Arabia to pray on Thursday for rain
RIYADH: King Salman called on Muslims in Saudi Arabia to pray on Thursday for rain, the Saudi Press Agency reported.
“Everyone who is able should be keen to perform the prayer, in accordance with the tradition of Prophet Muhammad,” the Royal Court said.
Muslims are often asked to pray for rainfall in times of drought or other water shortages.
Global Harmony event concludes with celebration of Egyptian culture in Riyadh
- Saudi Arabia and Egypt continue to strengthen their political relationship through agreements in trade, tourism, energy and culture
RIYADH: The Global Harmony initiative concludes its third edition with a week-long celebration of Egyptian music, art and tradition in Suwaidi Park as part of Riyadh Season.
Running from Nov. 24-30 and organized by the Ministry of Media, the event invites visitors to experience Egypt’s rich heritage through a range of cultural activities.
Speaking to Arab News, Egyptian Ambassador to Saudi Arabia Tarek El-Meligy highlighted the deep-rooted connection between the two nations. “The Egyptian community is the most harmonious, coexistent and understanding in a positive way within Saudi society,” he said.
“If you ask any Egyptian which country they would like to live in after Egypt, they will say Saudi Arabia.”
Sarry Shaaban, an executive and consultant at the General Entertainment Authority, said: “We are talking about millions of visitors, both residents and Saudis, entering the park. Whether I’m a resident, a Saudi or from a country hosting the event, it provides an opportunity for residents to learn about your culture, colors, explore its arts, food, crafts, and traditional industries.”
Live music and dance performances displaying Egypt’s cultural traditions, with the rhythm of drums and flutes and performers in traditional costumes, have brought the life and spirit of Cairo’s streets to Riyadh.
A separate bazaar area has been set up featuring Egyptian cuisine, traditional clothing and handcrafted items.
“An event like this carries positive messages and highlights something we strive to emphasize every day, that we are one people, united by love and affection,” said El-Meligy.
Egyptian Sameh Nabil emphasized the feel of unity: “This initiative brought us closer together as Egyptians, and with Saudis here, I feel like we are brothers. I always feel like we are not expatriates.”
And visitor Khaled Zahir said: “This event reflects the love, connection and affection between Egyptians living in the Kingdom and Saudis.”
Egyptians make up 11 percent of Saudi Arabia’s population, according to the Saudi Census, meaning such exhibitions are important in promoting mutual respect and harmony.
El-Meligy said Saudi Arabia hosted the largest Egyptian expatriate community abroad, with remittances from those in the Kingdom forming a significant part of their home nation’s income.
“In recent months, remittances from Egyptians abroad have increased substantially, thanks to the facilities between the two countries and the confidence in both the Saudi and Egyptian economies,” he added.
Saudi Arabia and Egypt continue to strengthen their political relationship through agreements in trade, tourism, energy and culture. In his October visit to Cairo, Saudi Crown Prince Mohammed bin Salman met with Egyptian President Abdel Fattah El-Sisi to discuss investment opportunities and the establishment of a supreme coordination council to deepen bilateral relations.
Trade between Saudi Arabia and Egypt saw a 35.16 percent annual increase in the first half of 2024, according to the General Authority of Statistics. The increase was driven by a 73.44 percent surge in Saudi imports from Egypt, totaling $4.18 billion.
Egypt has also shown a growing interest in investing in Saudi Arabia, with a 71 percent rise in licenses granted to Egyptian firms in the second quarter of 2024.
The festival, which began in October, highlights the lives, contributions and cultural integration of its residents. So far, it has celebrated cultures including Indian heritage and moving through Philippine, Indonesian, Pakistani, Yemeni, Sudanese, Bangladeshi, Jordanian, Lebanese and Syrian traditions.
Riyadh Expo 2030 provides progress update to international exhibitions regulator BIE
- Members of Riyadh Expo 2030 update Bureau International des Expositions on progress toward hosting the event
RIYADH: A Saudi delegation representing Riyadh Expo 2030 took part in a Bureau International des Expositions meeting on Tuesday to review the Kingdom’s readiness to host the global event.
In November 2023, Saudi Arabia won the bid to host the 2030 World Expo between October 2030 and March 2031 in the capital, Riyadh.
The Riyadh Expo 2030 delegation took part in the 175th general assembly meeting of the BIE, a Paris-based intergovernmental organization which oversees and regulates World Expos, the Saudi Press Agency reported.
They updated senior officials of the BIE about the latest Saudi developments and preparations for hosting the event. They also discussed progress on work to accommodate an expected 246 exhibitors, including countries, organizations and companies, at a site north of Riyadh.
Under the theme “The Era of Change: Together for a Foresighted Tomorrow,” the event aims to be a unique platform for innovations and modern technologies which aim to find answers to challenges facing the planet in various fields, according to the Expo 2030 website.
