Aramco's Flagship Jafurah Gas Project is Not A Gamechanger for Saudi Arabia

Aramco's Flagship Jafurah Gas Project is Not A Gamechanger for Saudi Arabia

Operations at Saudi Arabia’s Jafurah shale gas field – the country’s largest unconventional non-oil associated gas site and arguably one of the biggest outside the U.S. – will begin this year, according to a comment last week from Saudi Aramco’s president and chief executive officer, Amin Nasser. The oil and gas giant added that Phase 1 is expected to produce 200 million standard cubic feet per day (Mscfd) of gas this year, with the figure set t…

PIF launches Saudi Arabia’s first duty-free retailer

The Public Investment Fund (PIF) has launched Saudi Arabia’s first duty-free operator as the kingdom targets 150 million annual visitors by the end of the decade, according to a statement. Al Waha Duty-Free Company (Al Waha), a wholly owned unit of the sovereign fund, aims to secure a “large” share of passenger spending to boost the local economy, the statement said. Saudi Arabia imposes some customs duties, a 15 percent VAT rate, and additional…

Saudi Arabia’s Travel Retail Market Gets A Boost With Al Waha Duty Free From PIF - Travel And Tour World

Saudi Arabia’s Public Investment Fund (PIF) has officially introduced Al Waha Duty Free Operating Company, marking a bold move to strengthen the Kingdom’s footprint in the thriving travel retail industry while accelerating economic diversification efforts. In a recent announcement, the launch of Al Waha was hailed as a historic milestone, positioning it as the first-ever duty-free company fully owned and operated by Saudi Arabia. The new entity …

Saudi sovereign wealth fund PIF launches Al Waha Duty-Free Company

Al Waha will operate duty free stores at airports, and explore further travel retail opportunities in land borders and seaports The post Saudi sovereign wealth fund PIF launches Al Waha Duty-Free Company appeared first on DFNI.