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The Latest Breaking News from Aramco

Saudi oil giant Aramco reports 82% rise in quarterly profits

Investors to get $4bn in bonus shares after record earnings of $39.5bn on higher demand and crude prices

The Guardian - UK

Saudi Aramco says Q1 profits jump 82% as oil prices surge

Riyadh (AFP) - Saudi Aramco on Sunday posted an 82-percent jump in first quarter profits, buoyed by a global surge in oil prices that has made it the world's most valuable company.

AFP

Saudi oil giant Aramco's first-quarter profits surge 80%

Oil giant Saudi Aramco says its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia’s invasion of Ukraine

The Independent UK

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Saudi Aramco's First-quarter Profits Surge 80%

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year. The state-backed company’s first-quarter earnings show a record net income of $39.5 billion, up from $21.7 billion during the same period last year. Already, resurgent economic activity and the relaxation…

Asharq Al-Awsat

Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand. The MoU targets the supply and trading of crude oil, petrochemicals, and liquified natural gas (LNG). It focuses on clean energy, carbon capture, and electric vehicles, and outlined potential collaboration across both…

Asharq Al-Awsat

Has Apple Stock Peaked?

Longtime high-flying tech giant has been toppled from its position as the most valuable company in the world by a distinctly old-fashioned industrial company.

The Street

Saudi Aramco overtakes Apple as world’s most valuable company

Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker

The Guardian - UK

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Saudi Aramco becomes world's most valuable company, dethroning Apple

San Francisco (AFP) - Saudi Aramco on Wednesday dethroned Apple as the world's most valuable company as surging oil prices drove up shares and tech stocks slumped.

AFP

Saudi Arabia Cuts Oil Prices to Asia by More than 50%

Saudi Arabia cut oil prices for buyers in Asia as coronavirus lockdowns in China weigh on demand, countering uncertainty around Russia’s supplies as the Ukraine war drags on. Aramco is expected to cut the official selling price (OSP) for flagship Arab Light crude to Asia in June by more than…

Asharq Al-Awsat

Dubai's DEWA shares soar in Gulf's biggest IPO since 2019

Dubai (AFP) - Shares in the Dubai Electricity and Water Authority rose nearly 16 percent on Tuesday in the Gulf region's biggest initial public offering since Saudi oil giant Aramco in 2019.

AFP

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

US Imposes Sanctions on Key Actors in Iran’s Ballistic Missile Program

The United States on Wednesday imposed sanctions on an Iran-based man and his network of companies it accused of helping Tehran obtain materials for its ballistic missile program, acting after missile attacks by suspected Iranian-backed proxies on countries in the region. In a statement issued as talks on reviving the…

Asharq Al-Awsat

Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Minister of Investment Khalid al-Falih announced that visiting Saudi Arabia in 2030 will be an opportunity for work, stability, investment, and future building. Falih indicated that the economic development in the Kingdom would lead to the development of the entire region, noting that Ministries of Investment and Commerce are…

Asharq Al-Awsat

Saudi-led coalition strikes Yemen after Aramco depot attack

A Saudi-led coalition fighting Houthi rebels in Yemen launched airstrikes against sites in the southern Arabian country in response to multiple attacks Friday, including one that caused a fire at an Aramco fuel depot in Jeddah.

Tribune News Service

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Daily Mirror

Inside F1 drivers meeting as Lewis Hamilton and three others led Saudi Arabia GP debate

Formula 1 bosses, team principals and drivers discussed whether or not to race in the Saudi Arabian Grand Prix this weekend after a missile attack nearby to the street circuit

Motorsport

F1 teams say drivers still "concerned" over Saudi GP safety

Formula 1 teams have revealed that drivers remain “concerned” over the Saudi Arabian Grand Prix following the Friday attack on the nearby Aramco facility.

Autosport

Drivers still "concerned" over Saudi Arabian GP safety, say F1 teams

Formula 1 teams have revealed that drivers remain “concerned” over the Saudi Arabian Grand Prix following the Friday attack on the nearby Aramco facility.

Asharq Al-Awsat

US Condemns 'Reckless' Houthi Terrorist Attacks on Saudi Arabia

The United States strongly condemned on Friday the Iran-backed Houthi militias' attacks on Saudi Arabia. "We strongly condemn this week’s multiple Houthi terrorist attacks on Saudi Arabia, including today’s that struck an Aramco facility in Jeddah, which is clearly civilian infrastructure," said the State Department. "At a time when the parties should be focused on de-escalation and bringing needed…

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AFP

Yemen rebels attack oil facilities near Saudi F1 track

Jeddah (Saudi Arabia) (AFP) - A Yemeni rebel attack on a Saudi oil plant set off a huge fire near Jeddah's Formula One circuit during televised practice sessions on Friday, part of a wave of assaults on Aramco facilities.

Tribune News Service

Saudi fuel depot is hit as drone attacks escalate

DUBAI, United Arab Emirates — An oil storage facility in Saudi Arabia was hit by a barrage of drone attacks on Friday, in a marked escalation of tensions in one of the world’s most important regions for oil shipments.

AFP

'F1 will not be bullied': Red Bull chief backs Saudi show going on

Jeddah (Saudi Arabia) (AFP) - Red Bull team chief Christian Horner on Friday backed the decision to continue with the Saudi Arabian Grand Prix despite a rebel attack on a nearby oil depot, insisting: "F1 will not be bullied".

Evening Standard

Saudi Arabian Grand Prix to go ahead despite ‘missile attack’ on nearby fuel plant

World champion Max Verstappen reported to his Red Bull team over the radio that he could detect the smoke

AFP

Huge fire near Saudi F1 track as Yemen rebels attack oil facilities

Daily Mirror

Formula 1 makes decision on Saudi Arabian GP after 'missile strike' in Jeddah

F1 chief Stefano Domenicali declared that he "feels safe" as race bosses were bullish about continuing as planned in Jeddah this weekend

AFP

Saudi Arabian Grand Prix continues 'as planned' despite rebel attack on oil facility

Jeddah (Saudi Arabia) (AFP) - The Saudi Arabian Formula One Grand Prix will continue "as planned" despite an attack by Yemeni rebels on an oil facility which set off a huge fire visible from Jeddah's street circuit.

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