Tag Archives: Saudi Aramco

Apple Inc’s gains surged over 10% to a record high on Friday after reporting blockbuster quarterly results, helping the iPhone maker eclipse Saudi Aramco to become the world’s most valuable publicly listed company. Apple’s stock ended the session at $425.04, putting its market capitalization at $1.82 trillion, according to the …

India’s oil-to-telecoms conglomerate Reliance Industries surpassed on Friday Exxon as the world’s second most valuable firm doing business in energy after Saudi Arabia’s oil giant Aramco. Reliance Industries is the most valuable company in India and has diversified operations, including oil refining. Its market capitalization hit US$189 billion (14.1 trillion …

Aramco on Wednesday announced the successful completion of its share acquisition of a 70 per cent stake in Saudi Basic Industries Corporation, SABIC, from the Public Investment Fund, PIF, the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion (US$ 69.1 billion), equating to …

Saudi Aramco is the first major global oil producer to see its stock recover to the level it traded at before the price war between Russia and Saudi Arabia. Aramco climbed 3.1% in Riyadh on Tuesday, advancing for a record sixth day alongside an extended increase in the price of …

Saudi Arabia stood by its pledge to curtail oil output under the OPEC+ deal, reducing shipments to the prized Asian market. Saudi Aramco cut contractual volumes for June loading to at least seven Asian customers, according to traders notified by the state-owned company. Three other regional buyers received what they …

Saudi Aramco said on Tuesday its planned acquisition of a 70% equity stake in petrochemical maker SABIC from the Public Investment Fund (PIF), the kingdom’s wealth fund, is on track to close in the second quarter. The statement by the state oil giant was made in response to a Reuters …

Saudi Aramco is in early talks about further staggering payments for a controlling stake in local petrochemical giant Saudi Basic Industries Corp. as the collapse in oil prices puts pressure on its finances. State-owned Aramco is weighing pushing out payments for the 70% holding in the petrochemicals maker and reducing …

State oil producer Saudi Aramco slashed its official selling prices for April crude sales to some of the lowest levels in decades, undercutting rivals. The uneasy truce that settled over oil markets this month as some of the world’s largest producers began cutting output belies the raging competition among exporters …

Saudi Arabia will emerge as the victor of the oil price war that sent global crude markets into a spin last month, according to two experts in the energy industry. Jason Bordoff, professor and founding director of the Center for Global Energy policy at New York’s Columbia University, said: “While …

It is becoming increasingly clear that the ongoing oil demand destruction, COVID-19 lockdowns and financial crisis are going to significantly impact Saudi Arabia. In a dramatic appearance, Saudi Minister of Finance, Mohammed Al Jadaan, stated that the Kingdom is going to take any measures necessary to counter the effects of …