Tag Archives: Saudi Aramco

Oil giant Saudi Aramco on Sunday unveiled record profits of $48.4 billion in the second quarter of 2022, after Russia’s war in Ukraine and a post-pandemic surge in demand sent crude prices soaring. Net income leapt 90 percent year-on-year for the world’s biggest oil producer, which clocked its second straight …

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 …

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) …

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 …

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 …

Saudi Aramco has dethroned Apple as the world’s most valuable company as surging oil prices drive up shares and tech stocks slump. The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was valued at $2.42 trillion based on the price …

Shares of Saudi Arabian Oil Co. hit their highest level since listing, at SAR 42.25 today, Feb. 24. The stock is trading at an increase of over 3%, with nearly 18 million shares traded so far. Brent crude jumped above $100 a barrel on Thursday’s trading session for the first …

Saudi Arabia’s Crown Prince Mohammad bin Salman said 4 per cent of oil giant Saudi Aramco’s shares have been transferred to country’s sovereign wealth fund, known as the Public Investment Fund, to support restructuring the economy. The move is also part of PIF’s plan to raise its assets under management …

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 …

Saudi Arabia’s oil giant Aramco is dusting off plans to sell more of its shares, aiming for a $50-billion share sale on the domestic stock exchange with a possible secondary listing abroad, in what could be the world’s biggest share sale ever, The Wall Street Journal reported on Friday, quoting …