Tag Archives: Saudi Aramco

Saudi Aramco Betting Big on Carbon Storage

Saudi Aramco plans to begin permanently storing carbon dioxide from 2026 in one of the largest facilities of its kind, as the state oil giant seeks to reach its goal of net-zero emissions by 2050. The company is looking to capture carbon dioxide emitted by processes that convert natural gas …

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Aramco Plans 12GW Renewables Investment

Saudi Aramco’s plan to invest in 12,000MW of renewable energy by 2030 entails investing in the kingdom’s national renewable energy programme as well as through affiliate investments in renewables and purchase of renewable energy certificates. “Those will likely primarily come in the form of investments in Public Investment Fund’s (PIF’s) …

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Aramco can’t Expand Output Capacity any Faster

CEO and President of Saudi Aramco Amin Nasser said that the company cannot expand production capacity any faster than promised. “The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures,” Nasser said. Aramco is sticking …

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Saudi Aramco Board Approves Capital Increase

Saudi Aramco, the world’s largest oil-producing company, said on Sunday its shareholders have approved a board recommendation to increase capital. The boost will be by way of granting bonus shares through the capitalisation of 15 billion Saudi riyals ($4bn) from the company’s retained profits, Aramco said in a filing to …

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Aramco Hikes Oil Prices for Asia Again

Amid the continued rally in oil prices, Saudi Aramco raised its official selling price for crude exported to Asia, with its flagship Arab Light cargos for March up by $0.60 per barrel to a total $2.80 per barrel premium over the benchmark. According to Bloomberg, this is the highest price …

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