Tag Archives: Saudi Aramco

Saudi Aramco is marking the start of its development of the Jafurah unconventional gas field on November 29, says a report by Arab News. The Saudi-listed firm claims it to be the “largest non-associated gas field” in the Kingdom. The move is part of the Kingdom’s push to commercialise its …

Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer, Aramco, raised the official selling price for its crude, suggesting demand remains strong amid tighter supplies. Brent crude was up by 90c, or 1.1%, at $83.64 a barrel, after dropping nearly 2% last week. US oil gained 87c or …

Saudi Arabia’s state-run energy giant, Saudi Aramco, has increased the official selling price of the Kingdom’s crude to Asian and US buyers. Global oil prices reportedly saw a smaller weekly loss as a result. In particular, Aramco increased pricing for its key Arab Light grade of crude for Asian customers …

Saudi Aramco’s earnings soared as oil prices and production climbed, allowing the company to easily cover its quarterly dividend of $18.75 billion with free cash flow. The world’s biggest crude producer’s third-quarter profit climbed to 114.1 billion riyals ($30.4 billion) from 44.2 billion riyals year ago. Free cash flow was …

Saudi Aramco said that oil-output capacity across the world is dropping quickly and that companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. His comments come with crude prices having soared 70% this year …

Saudi Aramco has tapped banks to arrange a loan with a size between $12 -14 billion, which it plans to offer to buyers of its gas pipeline network, sources told Reuters. According to the sources, banks that financed a $12.4 billion acquisition of the company’s oil pipelines earlier this year …

Saudi Arabia’s state-run energy firm is splitting its gas production division in two, as the fuel becomes increasingly important for expanding its chemicals business and amid efforts to position itself for the energy transition. The Saudi Arabian Oil Company (Saudi Aramco) will create two new divisions, named Southern Area Gas …

As part of its diversification drive, the world’s biggest oil producer, Saudi Arabian Oil Co. (Saudi Aramco) signed 22 new pacts and a joint venture agreement with leading global firms in sectors such as sustainability, technology, industrial and energy services. This comes amid a growing focus on environmental, social and …

Dhahran-based petroleum and natural gas company Saudi Aramco is reportedly targeting to raise at least $17bn from its stake sale in gas pipelines. The deal amount could be higher than the $12.4bn the company received in the oil pipeline transaction, sources familiar with the matter told Reuters. North American private …

Saudi Aramco is joining a group led by ACWA Power to build a nearly $1 billion solar power plant in the kingdom as the world’s largest oil-exporting nation expands renewable energy supply. Aramco will hold a 30% stake in the Sudair solar project, while ACWA and partner Water & Electricity …