Tag Archives: Saudi Aramco

The energy transition “is not going smoothly,” the chief executive of Saudi Aramco, Amin Nasser, said on Thursday, calling for continued investment in oil and gas until low-carbon energy could grow and mature enough to meet rising energy demand. “We have to acknowledge that the current transition is not going …

Saudi Arabia’s state oil and gas corporation Saudi Aramco said that it signed five agreements with leading French companies including a deal on hydrogen-powered vehicles with Gaussin, during French President Emmanuel Macron’s visit to the kingdom. The agreements were concluded in the city of Jeddah during the workshops that were …

Saudi Aramco has awarded subsurface and engineering, procurement and construction (EPC) contracts worth $10bn for the development of the Jafurah gas field. The contracts have been awarded to 16 undisclosed domestic and international service companies for the Jafurah Gas Plant and gas compression facilities, as well as infrastructure and related …

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 …