Saudi Arabia

Industry News

Saudi-Chinese Consortium Secures $306 Million Qiddiya Stadium Facade Contract

IKK Fangda JV Co., a joint venture between China Fangda Group and Saudi-based Isam Kabbani & Partners, has been awarded an SR1.15 billion ($306 million) contract for Qiddiya's Prince Mohammed bin Salman Stadium. The consortium will design, supply, and install curtain-wall facades for the venue, which is planned for the 2034 FIFA World Cup. The contract represents 60.7 percent of China Fangda Group's audited operating revenue in 2025.

Industry News

Saudi Arabia Ranks as China’s Third-Largest Crude Oil Supplier in September

Customs data released on October 20, 2026 showed Saudi Arabia was China's third-largest crude oil supplier in September, delivering 2.70 million tonnes. Over the first nine months of the year, Brazil surpassed Saudi Arabia to become the second-largest supplier. Russia remained China's top crude oil supplier during September.

Industry News

UAE Business Jet Departures Double in Five Years Driving MRO Opportunities

Business jet departures in the UAE grew 102.2 percent over five years to reach 5,475 flights, according to Honeywell Aerospace data. The expansion is driving increased regional demand for aircraft maintenance, fleet management, and avionics upgrades. Saudi Arabia also recorded 3,727 business jet departures over the same period, representing 42.2 percent growth.

Industry News

Gulf Producers Positioned to Gain Market Share in China as Iranian Supplies Fall

Gulf energy producers are poised to expand their market share in China as crude shipments from Iran decline amid regional conflict, according to Vortexa. Total Middle East crude imports into China are forecast to reach roughly 4.5 million barrels per day in October 2026.