#Saudi Aramco
The state-energy firm said the transaction is subject to certain customary conditions, including regulatory approvals
The Minister of Energy said the discovery of the Al-Hiran natural gas field was confirmed after gas flowed from the Hanifa reservoir in the Al-Hiran
Net profit declined to $32.6bn for the quarter to September 30 from $42.4bn a year earlier
Jafurah is Saudi’s largest unconventional non-oil associated gas field, with reserves estimated at 200 trillion cubic feet
Almost all the stocks on the index were in negative territory including blue-chip developer Emaar Properties
The transaction will give Aramco access to retail fuel stations, airport operations, fuel distribution terminals and a lubricant blending plant
The world’s largest oil company reported that it had paid out a base dividend for Q1 2023 of $19.5bn in the second quarter, which was up 4 per cent year-on-year
Tenderd’s AI-technology could end up being used by Aramco as it looks to reduce its environmental impact and hit its net zero target
The awarding of the contracts marks the start of construction work on the petrochemical facility
The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares
The state-owned oil giant will supply up to 210,000 bpd of crude oil feedstock to the complex, which is being built in China’s Liaoning province
The company’s declared a dividend of $19.5bn for the final quarter of 2022, a 4 per cent increase compared to the previous three-month period
The deal comes amid expectations of lucrative business opportunities in Saudi Arabia and the Middle East
Domestic deals represented 34 per cent of the total M&A value at $28.4bn while outbound deals led in value at $40.1bn
Aramco will be a minority stakeholder in the venture while Geely and Renault are expected to retain equal equity stakes
SABIC, which is majority-owned by Saudi Aramco, said average sale prices dropped 9 per cent from the previous quarter.
Luberef, as the refiner is known, dropped as much as 6.6 per cent in Riyadh to SAR92.5 ($24.61), valuing the company at SAR15.9bn
The facility is set to start operations in 2027
Luberef becomes the latest billion-dollar plus IPO in the Gulf
The purchase agreements with local and global manufacturers are valued at $11bn, and will reinforce supply chain resilience
Much of the gas for Aramco’s blue hydrogen will come from Saudi Arabia’s massive Jafurah field
Aramco’s net income was $41.6bn in the third quarter, slightly above analysts’ expectations
The programme will provide SMEs a wide range of support from capability building and strategy development to training, market access, advisory services and business planning
Analysts say there’s only about 2 million barrels a day of capacity that could be brought online quickly should there be a supply shutdowns
The company will increase its presence in Saudi Arabia by opening an office in Dhahran to develop industrial vision-based solutions
Oil and gas investments slumped from $700bn in 2014 to $300bn in 2021, according to Aramco’s chief executive officer, Amin Nasser
By 2026, all FIA Championships will be required to power their cars with 100 per cent sustainable fuels
Aramco posted a 90 per cent year-on-year increase in net income in Q2 2022 to 48.4bn and declared a dividend of $18.8bn to be paid in Q3
Saudi Aramco plans to begin permanently storing carbon dioxide from 2026 in one of the largest facilities of its kind, as the state oil giant seeks to reach its goal of net-zero emissions by 2050
State producer Saudi Aramco increased its Arab Light grade for next month’s shipments to Asia to $9.80 a barrel