Saudi Arabia bureau chief and SWFs @semafor. Opinions my own. Pls send tips to: signal: @mmartin.48 Telegram: @MatthewMartin [email protected]
Riyadh
Joined February 2011
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Trump weighs post-midterms Iran operations. Many inside the administration are skeptical about resuming military operations against Iran, and Trump “is the one most open” to a ramp-up, a Trump official told Semafor, but even he still has reservations. semafor.com/article/10/29/20…
Matthew Martin retweeted
Oct 28 (Reuters) - Qatari mediators presented Iran with a new draft deal on Sunday to end the US-Israeli war on the country, which Tehran is considering and expected to send a response to by the end of the week, an official briefed on the negotiations said on Wednesday.
There were concerns ahead of Sunday's meeting in Tehran that Israeli Prime Minister Netanyahu could resume attacks on the Islamic Republic this week, the official added.
Matthew Martin retweeted
Saudi Arabia has been exporting crude so far this month at a rate that suggests the kingdom has lifted its oil production toward the 9-10 million b/d range.
Using both the Persian Gulf and (more importantly) the Red Sea, Riyadh has boosted crude exports during the first 22 days of October to >7 million b/d, reaching pre-war levels (see @Vortexa chart below). Adding clean and dirty refined product, the export flow Oct 1-22 reaches ~8.5m b/d, slightly below pre-war levels of >9m b/d.
The crude export surge -- and the production boost -- could be part of a "use-while-you-can" strategy aimed at pumping ahead of the potential restart of the war post US midterms (or before the Houthis of Yemen damage another key oil installation -- several near misses already in recent days, including an attack that killed two contractors near a major oilfield).
Note: using Oct 1-2 as typically it takes at least five days for dark transits across the SoH to become clear.
Matthew Martin retweeted
Latest evidence that Gulf entry into car manufacturing (assembly) makes little to no economic sense.
Matthew Martin retweeted
Objectives of the meeting between Iran and the tripartite (Saudi Arabia, Pakistan, Turkiye):
1. De-escalation between Iran and the US
2. Promote dialogue and diplomatic solutions
3. Support Qatar and Pakistan's mediation efforts.
HRH Prince Khalid bin Salman bin Abdulaziz Al-Saud, Minister of Defense, leads the Kingdom’s delegation to the meetings that will be held today in Tehran, capital of Iran, between Makkah Joint Defense Agreement countries and officials from the Islamic Republic of Iran, with participation of Field Marshall Asim Munir, Pakistani Chief of Army Staff and Ibrahim Kalin, Director of the Turkish National Intelligence.
Representatives of Makkah Joint Defense Agreement countries will meet with the H.E. President of the Islamic Republic of Iran Dr. Masoud Pezeshkian, and H.E. the Secretary of the Supreme National Security Council of Iran Mohsen Rezaei.
The visit comes as part of the continued efforts by the Makkah Joint Defense Agreement countries for de-escalation between parties involved in the ongoing crisis, and promoting dialogue and diplomatic solutions, in support of the mediation efforts carried out by the State of Qatar and the Islamic Republic of Pakistan. The visit underscore the pivotal role of Makkah Joint Defense Agreement countries in reinforcing regional security and stability, and working with all countries in the region to achieve that goal.
Saudi defense minister @kbsalsaud travelling to Tehran today, for talks between Mecca Pact countries (KSA, Turkey and Pakistan) and Iranian officials. Latest sign of a pick up in diplomatic efforts to cool escalating tensions in the Gulf
HRH Prince Khalid bin Salman bin Abdulaziz Al-Saud, Minister of Defense, leads the Kingdom’s delegation to the meetings that will be held today in Tehran, capital of Iran, between Makkah Joint Defense Agreement countries and officials from the Islamic Republic of Iran, with participation of Field Marshall Asim Munir, Pakistani Chief of Army Staff and Ibrahim Kalin, Director of the Turkish National Intelligence.
Representatives of Makkah Joint Defense Agreement countries will meet with the H.E. President of the Islamic Republic of Iran Dr. Masoud Pezeshkian, and H.E. the Secretary of the Supreme National Security Council of Iran Mohsen Rezaei.
The visit comes as part of the continued efforts by the Makkah Joint Defense Agreement countries for de-escalation between parties involved in the ongoing crisis, and promoting dialogue and diplomatic solutions, in support of the mediation efforts carried out by the State of Qatar and the Islamic Republic of Pakistan. The visit underscore the pivotal role of Makkah Joint Defense Agreement countries in reinforcing regional security and stability, and working with all countries in the region to achieve that goal.
U.S. embassy begins ordered departure of non-emergency personnel in Saudi Arabia and families due to safety risks
Security Alert: U.S. Mission Saudi Arabia (October 25, 2026)
Effective October 23, 2026, the Department of State ordered non-emergency U.S. government employees and U.S. government employee family members to leave Saudi Arabia due to safety risks.
Iranian-supported Houthis have engaged in hostilities against Saudi Arabia, including attacks on civilian airports and other critical infrastructure resulting in civilian casualties and severe travel disruptions. The hostilities have the potential to escalate rapidly beyond that immediate area.
U.S. government employees working in Saudi Arabia require special authorization from Chief of Mission to use any airport in Saudi Arabia following recent missile and UAV attacks on airports in the Kingdom.
King Khalid International Airport (RUH) in Riyadh announced a partial reopening as of October 25 for domestic flights and some international flights operated by national carriers. A limited number of flights normally based at RUH are operating out of Qassim-based Prince Naif bin Abdulaziz International Airport (ELQ).
Operations at King Abdulaziz International Airport in Jeddah (JED) are operational with some delays and cancellations.
Operations at King Fahd International Airport in Dammam (DMM) are operational with some delays and cancellations.
U.S. citizens should be aware of potential attacks on airports, airspace closures, flight cancellations, and travel disruptions. Please take extreme caution if you choose to use airports in Saudi Arabia. We recommend checking your flight departure status directly with the airline and with the airport.
Read more: sa.usembassy.gov/security-al…
Matthew Martin retweeted
📣 OFFICIAL STATEMENT
𝗗𝗮𝗸𝗮𝗿 𝟮𝟬𝟮𝟳 𝘄𝗶𝗹𝗹 𝗻𝗼𝘁 𝘁𝗮𝗸𝗲 𝗽𝗹𝗮𝗰𝗲 𝗶𝗻 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮: 𝘁𝗵𝗲 𝗿𝗮𝗹𝗹𝘆 𝘄𝗶𝗹𝗹 𝗿𝗲𝘁𝘂𝗿𝗻 𝘁𝗼 𝘁𝗵𝗲 𝗞𝗶𝗻𝗴𝗱𝗼𝗺 𝗶𝗻 𝟮𝟬𝟮𝟴 𝗳𝗼𝗿 𝗶𝘁𝘀 𝟱𝟬𝘁𝗵 𝗲𝗱𝗶𝘁𝗶𝗼𝗻 🇸🇦
Amaury Sport Organisation (A.S.O.) and Saudi Motorsport Company (SMC) have jointly decided that Dakar Saudi Arabia 2027, scheduled from 1 to 15 January 2027, will not be held in the Kingdom, following recent developments in the region.
This decision is exceptional and one-off and was taken in close coordination with the Saudi Automobile and Motorcycle Federation (SAMF), and with the support of the FIA and the FIM.
𝗗𝗮𝗸𝗮𝗿 𝟮𝟬𝟮𝟳 𝘄𝗶𝗹𝗹 𝗴𝗼 𝗮𝗵𝗲𝗮𝗱. 𝗧𝗵𝗲 𝟮𝟬𝟮𝟳 𝗲𝗱𝗶𝘁𝗶𝗼𝗻 𝘄𝗶𝗹𝗹 𝘁𝗮𝗸𝗲 𝗽𝗹𝗮𝗰𝗲 𝗶𝗻 𝗮 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘁𝗲𝗿𝗿𝗶𝘁𝗼𝗿𝘆 𝗮𝗻𝗱 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗼𝗿𝗴𝗮𝗻𝗶𝘀𝗲𝗱 𝗯𝘆 𝗔.𝗦.𝗢. 𝗧𝗵𝗲 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗮𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗱 𝘀𝗲𝗽𝗮𝗿𝗮𝘁𝗲𝗹𝘆 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗺𝗶𝗻𝗴 𝗱𝗮𝘆𝘀.
𝗔.𝗦.𝗢. 𝗶𝘀 𝗶𝗻 𝗱𝗶𝗿𝗲𝗰𝘁 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝘄𝗶𝘁𝗵 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗼𝗿𝘀, 𝘁𝗲𝗮𝗺𝘀 𝗮𝗻𝗱 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀 𝘁𝗼 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝘁𝗵𝗲𝗺 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝘁𝗵𝗶𝘀 𝘁𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻. 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮 𝘄𝗶𝗹𝗹 𝗵𝗼𝘀𝘁 𝗗𝗮𝗸𝗮𝗿 𝟮𝟬𝟮𝟴, 𝗮 𝗹𝗮𝗻𝗱𝗺𝗮𝗿𝗸 𝗲𝗱𝗶𝘁𝗶𝗼𝗻 𝗰𝗲𝗹𝗲𝗯𝗿𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝟱𝟬𝘁𝗵 𝗿𝘂𝗻𝗻𝗶𝗻𝗴 𝗼𝗳 𝘁𝗵𝗲 𝗿𝗮𝗹𝗹𝘆.
Both organisations are already working together to make this milestone an exceptional moment for the Dakar and for the Kingdom, with a shared commitment to once again deliver an iconic and world-class event to the highest of standards.
Since 2020, Saudi Arabia has hosted seven consecutive editions of Dakar, welcoming competitors from around the world on routes that showcased the Kingdom’s remarkable geographical diversity. These editions have made Saudi Arabia an integral part of the Dakar community and established a strong, long-term strategic partnership between A.S.O., SMC and SAMF. All three organisations reaffirm their commitment to continuing their cooperation, developing motorsport in the Kingdom and delivering outstanding experiences for competitors, teams and fans.
🔜 #Dakar2027
Matthew Martin retweeted
Abu Dhabi — which fashions itself as the “capital of capital” — uses its wealth to attract foreign investors to the emirate, partnering with global firms on domestic deals and international ones. Mubadala has become the world’s most active sovereign wealth fund this year.
Read more from @MattMartin128: semafor.com/article/10/22/20…
Matthew Martin retweeted
@MattMartin128 writes: Just four years ago, Saudi Crown Prince Mohammed bin Salman was at the peak of his powers. He was feted by the Chinese president and snubbed the US president, all while sitting atop a gusher of oil wealth that allowed him to pour money into trying to turn his wildest ideas into reality.
Those days seem a long time ago.
Read more: semafor.com/article/10/23/20…
Gulf attracts global finance firms controlling $5.8 trillion to open their first regional office since the Iran war started, in a bet the Gulf economies continue to be a big source of cash. The vast majority of firms went to Abu Dhabi semafor.com/article/10/22/20…
Aramco staff at the firm’s headquarters in Dhahran were ordered to evacuate the HQ and WFH this morning
Matthew Martin retweeted
This is inaccurate. The U.S. Department of State issued an ordered departure for non-emergency U.S. government employees and their family members in Saudi Arabia only.
Iranian-supported Houthis have increasingly engaged in hostilities against Saudi Arabia, including attacks on civilian airports and other critical infrastructure resulting in civilian casualties and severe travel disruptions.
The safety and security of Department personnel and their families remain our highest priority, and we will continue to take all necessary steps to protect and support them.
Matthew Martin retweeted
JERUSALEM/ISTANBUL/DUBAI, Oct 21 (Reuters) - The US State Department is preparing to issue an ordered departure of some personnel and family members from US embassies across the Gulf region, three US officials said on Wednesday.
The move was due to a possible resumption of hostilities, particularly with Iran-aligned Houthi militia in Yemen, two of the US officials said.
The US Embassy in Riyadh issued a security alert on Wednesday about possible further attacks by the Houthis on Saudi Arabia, after recent deadly strikes including on Riyadh's airport.
Two of the US officials said the ordered departures would potentially involve the evacuation of all personnel and their families from the US Mission to Saudi Arabia.
w/@RamiAyyub @humeyra_pamuk
Saudi Arabia’s flagship investment summit postponed until 2027, confirming our story from earlier semafor.com/article/10/19/20…
Saudi Arabia’s sovereign wealth fund is tapping its portfolio companies to pay off 800 million riyals ($213 million) of debt held by the soccer club Al Nassr, to pave the way for a sale of the team to investors including RedBird and Ronaldo
New @semafor: Ronaldo and Gerry Cardinale walk into a bar… and PIF buys them some drinks. The latest on Redbird’s quest for Al Nassr, and the financial housekeeping PIF is doing to make it happen. W/ the inimitable @MattMartin128
semafor.com/article/10/19/20…
Saudi Arabia is set to make a final decision on whether to postpone its flagship investment conference in Riyadh as soon as Monday, after Wall St execs relayed safety concerns to organizers, including the boss of the kingdom’s sovereign wealth fund semafor.com/article/10/19/20…