Saudi Power Procurement Company has awarded China's Gotion High-Tech 6 GWh in the kingdom's first utility-scale battery storage tender, valued at roughly $1.16 billion. Gotion secured three core sites totaling 75% of the 2 GW/8 GWh G1 project. Separately, Hong Kong Financial Secretary Paul Chan visited Doha to discuss green finance and infrastructure cooperation.
China and the United States have published reciprocal tariff exemption schedules covering approximately $30 billion worth of goods in each direction following September trade talks. The combined $60 billion in trade covered under the arrangement directly impacts Gulf shipping and logistics supply chains. Approximately 90 percent of the covered goods will transition to most favoured nation tariff rates.
Chinese battery manufacturer Gotion High-Tech has secured contracts to supply 6 gigawatt-hours of utility-scale battery energy storage systems in Saudi Arabia. The award covers three projects under the Saudi Power Procurement Company's first procurement group, valued at approximately $1.16 billion. The systems will connect directly to the kingdom's 380-kilovolt transmission network.
Indian refiners expect Russian crude supplies to tighten further through November as Chinese buyers outbid competitors and book cargoes in advance. To replace Russian barrels, Indian refiners are turning to alternatives including UAE Murban crude. Meanwhile, exports from major Middle East producers rebounded in September, supported by increased output from the UAE and Saudi Arabia.
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