Sultan Ahmed Al-Jaber says oil companies should be central to finding decarbonization pathways while ensuring human prosperity by meeting global energy needs.
The President-designate of fast approaching United Nations COP28 climate talks and group CEO of the Abu Dhabi National Oil Company (ADNOC) has called for an…
LONDON: An imposing gateway that appears to lead nowhere, situated somewhat incongruously on a triangular island created by the intersection of three major roads in the west of Riyadh, is nowadays something of an architectural mystery, even to many of the city’s inhabitants. Yet the Nasiriyah Gate bears mute testimony to the rapid growth of the capital, from a small provincial
ABU DHABI: The number of local and international companies operating in Saudi Arabia’s military industries sector grew to 70 by the end of 2020, representing estimated investment of SR24 billion ($6.4 billion).
The figures were announced on Tuesday, during the 2021 International Defense Exhibition and Conference (IDEX) in Abu Dhabi, by the Kingdom’s pavilion, which is organized and led by the General Authority for Military Industries (GAMI).
The authority said it had issued 114 licenses to 70 local and international companies by the end of last year, allowing them to operate in the sector. Of those, 57 percent were manufacturing licenses, 25 percent were for military services, and 18 percent were supply licenses. National companies accounted for 81 percent of the licenses, and foreign and mixed-ownership companies for the remaining 19 percent.