Tag Archives: Arab News

Saudi Aramco’s investment arm was among a group of investors who awarded SR187.5 million ($50 million) to a Seattle-based manufacturing and technology software company. Seeq Corp. said it had raised the new funds as part of a Series C funding round as the group of investors backing the financing were …

Evidence shows that biased media outlets will always exist when it comes to news about Saudi Arabia. The announcement of a $12.4 billion deal to set up a new unit called Aramco Oil Pipelines Company was reported unconstructively by some global news media as Saudi Aramco selling its assets, taking …

Kuwait’s Oil Minister Oil Mohammad Abdulatif Al-Fares expressed “cautious optimism” on Wednesday that the global oil demand will improve as COVID-19 vaccination programs gather pace and industrial output recovers. Speaking ahead of a joint meeting of the Organization of Petroleum Exporting Countries and other major oil producers, he said the …

Aramco Upstream chief Nasir Al-Naimi said oil and gas companies should reduce their CO2 footprint as they continue to provide a majority of the world’s energy for years to come. “While new energy has a role to play, it will be a while before it is ready to shoulder a …

The Abu Dhabi National Oil Company (ADNOC) plans to collaborate with Malaysian oil and gas company Petronas. Under the deal the pair will jointly explore opportunities to collaborate in the production of conventional and unconventional hydrocarbon resources in Abu Dhabi, ADNOC said in a statement carried by WAM, the official …

Saudi Aramco, the world’s largest quoted oil company, could pay even more than the $75 billion per year it promised at the time of its initial public offering in 2019, according to new research from analysts at Bank of America. “We believe that dividend upside is also possible at higher …

A masterplan for Pakistan’s largest oil city, including a $10 billion Aramco oil refinery project, is underway and expected to be ready before the end of the year, Pakistani officials said this week. The proposed mega oil city will be developed on 88,000 acres of land in the Gwadar district …

Saudi Arabia’s Crown Prince Mohammed bin Salman and Russian President Vladimir Putin discussed the OPEC+ agreements in a phone call on Monday, the Kremlin said. They said they would continue close coordination between Russia and Saudi Arabia “in the interests of maintaining stability in the world energy market,” the statement …

Their forecast has been based on what they see as the inability of many companies to increase production due to the ongoing economic impacts of the coronavirus disease (COVID-19) pandemic, which would mean a balance in supply and demand, according to Al Arabiya. The funds’ outlook on future trends of …

OPEC and its partners expect that the agreed oil-supply curbs will reach 99 percent in January, Bloomberg reported, citing an unnamed delegate. The implementation among the OPEC members was at 103 percent, while it reached 93 percent for non-OPEC partners, including Russia and Kazakhstan, last month. The compliance data is …