Tag Archives: Saudi Aramco

Saudi Aramco and Enowa, Neom’s energy and water subsidiary, have signed a joint development agreement to construct and establish a synthetic electro-fuel (e-fuel) demonstration plant. The plant will be located in Enowa’s Hydrogen Innovation and Development Centre (HIDC). The plant aims to demonstrate the technical feasibility and commercial viability of …

Saudi Aramco on Thursday announced its first global investment in liquefied natural gas, part of a broader bid by the energy giant to expand beyond oil. The company seen as the jewel of the Saudi economy said it would acquire a minority stake worth $500 million in MidOcean Energy, which …

Top executives of Exxon Mobil Corp. and Saudi Aramco voiced their backing for the global transition to cleaner energy forms, while emphasizing the lasting significance of oil in the energy sector for the foreseeable future. The statements were made on Monday at the World Petroleum Congress held in Calgary. Exxon …

Aramco has agreed to purchase a 100 per cent equity stake in Esmax Distribusción from Southern Cross Group, a Latin America-focused private equity company. The transaction is subject to certain customary conditions, including regulatory approvals. Esmax is a leading diversified downstream fuels and lubricants retailer in Chile. Its national presence …

Saudi Arabia’s oil giant Aramco has relaunched a tender for $1.8 billion worth of contracts for the expansion of the Zuluf offshore oilfield, having canceled deals previously awarded to U.S. firm McDermott, Upstream reported on Monday, quoting several sources with knowledge of the plans. Last month, Saudi Aramco called off …

The world’s largest oil company, Saudi Aramco, is considering the world’s largest offering, according to the Wall Street Journal. According to Saudi officials and “other people familiar with the plan,” Saudi Aramco is considering selling off as much as $50 billion in shares. If The Kingdom goes through with the …

Saudi Aramco looks to further bolster its downstream presence in the world’s top crude oil importer, China, the oil giant’s Downstream President, Mohammed Al Qahtani, has said. “China is strategically important to our business growth in Asia and worldwide, and we will remain a reliable source of long-term oil supply,” …

Luberef, a subsidiary of Saudi Aramco, reported a 3.9% higher profit for the second quarter of the year despite a sizeable decline in revenues. The company, which reported the figures in a statement for the Saudi stock exchange, attributed the increase in profit to tax adjustments that reduced its expenses …

Saudi Aramco said on Friday it had completed the purchase of a 10% stake in a Chinese petrochemical firm for the equivalent of $3.4 billion as the Saudi oil giant continues to expand its downstream footprint in one of its key export markets. Aramco successfully closed the acquisition of a …

Saudi Arabian Oil Company (Aramco) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday. “Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, …