Tag Archives: Saudi Aramco

Saudi Aramco Base Oil Co., a unit of the state-owned oil producer, has received regulatory approval for an initial public offering in Riyadh, as the world’s biggest crude producer looks to list some of its subsidiaries. The IPO will consist of the sale of 50mn shares – a 29.7% stake …

Saudi Aramco announced its biggest ever investment in South Korea to develop one of the world’s largest refinery-integrated petrochemical steam crackers through its S-OIL affiliate. In a statement received by Argaam Aramco said, the SAR 26 billion ($7 billion) Shaheen project aims to convert crude oil into petrochemical feedstock. This …

Aramco and IBM have announced preliminary plans for a strategic collaboration to establish an Innovation Hub in Riyadh, Saudi Arabia. The collaboration aims to support high-tech driven economic growth in Saudi Arabia, leveraging emerging technologies in hybrid cloud, AI, and quantum computing to address objectives including circular economy, materials science, …

Oil and gas giant Saudi Aramco has created a $1.5 billion fund to invest in technology supporting a stable and inclusive energy transition. It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally. Managed by Aramco Ventures, …

Saudi Aramco said the global oil market is already adjusting to sanctions on Russia, with Moscow redirecting crude flows to Asia from Europe and other producers making the opposite switch. “Realignment is happening,” Amin Nasser, chief executive officer of the world’s biggest oil company, said at the Future Investment Initiative …

Saudi Aramco is pushing ahead with plans for an initial public offering of its energy-trading business and is targeting a listing in Riyadh for the end of the year or early 2023, Bloomberg News reported on Wednesday. The world’s top oil producer is in the process of adding more banks …

Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday (Oct 10). The producer is keeping supplies to Asia steady despite likely production …

Cyberattacks are among the greatest risks Saudi Aramco faces these days, Amin Nasser, president and chief executive officer at the world’s biggest oil firm, said on Tuesday. “Cyberattacks are one of the top risks we face at Aramco – on a par with natural disasters or physical attacks,” Nasser told …

Saudi Arabia’s oil and gas giant Saudi Aramco could take a stake in French automaker Renault’s future thermal engine business after it separates it from its electric vehicle division. According to a Reuters report on Tuesday, China’s Geely Automobile Holdings and an oil group are in talks over taking stakes …

Oil prices dropped for a second session on Monday after the head of the world’s top exporter, Saudi Aramco, said it is ready to ramp up output while production at several offshore U.S. Gulf of Mexico platforms is resuming after a brief outage last week. Brent crude futures fell 27 …