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MEED February 2023 Webinar: Saudi Arabia 2023 Outlook and 2022 Review

26 February 2023

The webinar focuses on discussing the economic outlook, investment opportunities, and business strategies in Saudi Arabia for the year 2023.

As a MEED subscriber, you will be invited to exclusive monthly webinars on the trending topics in the region’s top sectors.

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Saudi Arabia 2023 Outlook and 2022 Review brings together industry experts, government officials, and business leaders to share their insights and perspectives on the current state and future of the Saudi Arabian economy.

The discussion covers a range of topics, including the impact of the COVID-19 pandemic on the economy, the government’s plans for economic diversification, and investment opportunities in various sectors such as healthcare, infrastructure, and renewable energy.

The webinar provides an interactive platform for participants to engage with the speakers, ask questions, and exchange ideas. It also offers networking opportunities for participants to connect with other business professionals and potential partners in Saudi Arabia.

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    The MoU aligns with PIF's 2026-30 strategic objectives to partner with global investors on opportunities within its portfolio and to maximise the value of its portfolio companies. The collaboration is expected to accelerate project delivery and increase the contribution of third-party capital into opportunities across the portfolio.

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    Register for MEED’s 14-day trial access 

    Contractors have submitted bids to Saudi Aramco for a tender to replace a pipeline in the Gas Line Abqaiq-Ras Tanura (GART) transmission network.

    The GART grid transports associated gas and natural gas liquids (NGL) from the Abqaiq oil processing complex as feedstock, northwards to the Ras Tanura refinery in Saudi Arabia’s Eastern Province.

    The aim of the project is to replace the GART-22 pipeline that connects the Juaymah export terminal on the Gulf coast in the Eastern Province to the Ras Tanura refinery, to ensure reliable fuel gas supply and meet ongoing demand.

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    Aramco issued the tender for the project in May, setting an initial deadline of 30 June for contractors to submit proposals, MEED previously reported.

    The Saudi energy giant then extended the deadline until 10 July, and then allowed bidders until 12 July. Contractors submitted their proposals by that final deadline, according to sources.

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    The Ras Tanura refinery is the oldest, and one of the largest, crude oil refineries in Saudi Arabia. The complex has a refining capacity of 550,000 barrels a day (b/d).

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    The facility is Aramco’s only refinery to contain a Visbreaker processing unit, which has a 60,000 b/d capacity.

    The Visbreaker reduces the quantity of residual oil produced in the distillation of crude oil and increases the yield of more valuable middle distillates, heating oil and diesel.

    The refinery complex also produces 17,000 b/d of asphalt, more than any other refinery in Saudi Arabia.

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    Most of Ras Tanura’s production is transferred to the Dhahran bulk plant for domestic use, while some products are exported from the nearby Ras Tanura shipping terminal.

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    They are operated by WOC, which is 100% owned by NOC.

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