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The Latest Breaking News from Aramco

F1 awaiting information on oil refinery attacks in Jeddah

Formula 1 is awaiting information from Saudi Arabian authorities on the cause of an explosion at an oil refinery near the Jeddah track on Friday.

Motorsport

Saudi Arabian GP under threat as 'missile strike' causes huge explosion near F1 track

An explosion has taken place at an Aramco petroleum facility in Jeddah, close to the track where the second race of the F1 season will take place this weekend

Daily Mirror

Huge plume of black smoke seen rising in the Red Sea city of Jeddah - witnesses

A huge plume of black smoke was seen rising in the Saudi Arabian Red Sea city of Jeddah, where oil giant Aramco has several oil facilities, witnesses said on Friday.

Reuters

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South Sudan Invites Saudi Arabia to Explore 23 New Oil Fields

Managing Director of Nile Petroleum Corp (NilePet) Chol Deng Thon Abel urged Saudi companies in general and oil giant Aramco to invest in South Sudan.

Asharq Al-Awsat

Washington Increases Security, Defense Cooperation with Saudi Arabia

The United States has pledged to continue providing Saudi Arabia with the necessary means to defend its territories and repel attacks carried out by the Iran-backed Houthi militias in Yemen. At the same time, it has demanded an immediate end to the war in Yemen and urged against targeting civilians…

Asharq Al-Awsat

Saudi Arabia's Aramco Passes $110 Billion In Profit, An Increase of 124% Compared To 2020

Saudi’s Aramco 2021 full-year profits hit a new record as the company registered a 124% increase to $110 billion compared to $49 billion in 2020. The energy giant attributed the shoot-up to increased oil prices as the market recovers from a pandemic-induced downturn.

Benzinga

Aramco to Launch 65 New Projects in 2023

Major government and private entities reviewed their future projects worth billions of dollars to allow contractors to benefit from their implementation, coinciding with the 4th edition of the Future Projects Forum in Riyadh. The Saudi Contractors Authority, in partnership with several public and private entities, launched the Forum on Sunday,…

Asharq Al-Awsat

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Satellite photos show Yemen rebels hit Saudi oil site again

Yemen’s Houthi rebels this week struck the same oil storage tank in the Saudi Arabian city of Jiddah they had previously hit two years ago

The Independent UK

Saudi Aramco to increase oil production to meet global demand

Saudi Arabia’s state oil company also reports its net profit rose by 124% to $110bn (£83bn) in 2021

The Guardian - UK

US Condemns Houthi Attack in Saudi Arabia

US National security adviser Jake Sullivan said on Sunday that the United States condemns the attacks by the Iran-backed Houthi militias in Yemen on civilian infrastructure in Saudi Arabia. "The Houthis launch these terrorist attacks with enabling by Iran, which supplies them with missile and UAV components, training, and expertise.…

Asharq Al-Awsat

Houthis target Aramco sites in Saudi Arabia using drones

Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco.

Tribune News Service

Houthis target Aramco sites in Saudi Arabia using drones

Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco.

Tribune News Service

Aramco's plant in Jeddah attacked by Yemen's Houthis -report

An attack on Aramco's petroleum products distribution plant in Jeddah caused a fire in one of the tanks but this was controlled and did not result in any casualties, Saudi state media said on Sunday, citing the Saudi-led coalition fighting Yemen's Houthis.

Reuters

Saudi Aramco reports profit surge on day sites hit by Yemen rebels

Riyadh (AFP) - Oil giant Saudi Aramco reported Sunday a 124 percent net profit surge for last year, hours after Yemeni rebels attacked its facilities causing a "temporary" drop in production.

AFP

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Asharq Al-Awsat

Houthi Attacks against Saudi Arabia Are Widely Condemned

Several Arab countries and Islamic organizations condemned on Sunday the Iran-backed Houthi militias in Yemen for attacking civilian facilities in Saudi Arabia. The Saudi-led Arab coalition announced on Saturday that it had destroyed four armed drones fired by the militias towards the southern region of the Kingdom. It revealed that…

AFP

Saudi Aramco says annual profit more than doubled in 2021

Riyadh (AFP) - Saudi Aramco's net profit soared 124 percent last year as global growth recovered from the Covid-19 downturn, the oil giant announced Sunday, hours after Yemen's Huthi rebels targeted some of its sites.

The Independent UK

Saudi Arabia says Yemen rebels target its energy facilities

Saudi state-run media says that Yemen’s Houthi rebels have unleashed a barrage of drone and missile strikes on Saudi Arabia that targeted a liquified natural gas plant, water desalination plant, oil facility and power station

Asharq Al-Awsat

Saudi Aramco 2021 Profit Soars, Plans Capex Boost in 2022

Saudi Arabian state oil giant Aramco on Sunday reported a more than doubling of annual net profit in 2021, boosted by higher oil prices, and announced plans to sharply lift capital expenditure in 2022. The oil giant has benefited from a more than 50% rise in crude prices last year,…

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Asharq Al-Awsat

Arab Coalition Thwarts Houthi Attempts to Target Civilian, Economic Facilities in Saudi Arabia

The Saudi-led Arab coalition announced on Saturday that it had destroyed four armed drones fired by the Iran-backed Houthi militias in Yemen towards the southern region of the Kingdom. It revealed that the attack targeted a desalination plant in al-Shuqaiq and an Aramco facility in Jazan. The coalition also announced…

Asharq Al-Awsat

Aramco JV to Develop Major Refinery, Petrochemical Complex in China

Saudi Aramco said on Thursday its joint venture in China will develop a major integrated refinery and petrochemical complex in the northeast of the country. The project, expected to be operational in 2024, combines a 300,000 barrel-per-day capacity refinery and ethylene-based steam cracker, with Aramco set to supply up to…

Asharq Al-Awsat

Aramco Is Fast Closing In for Top Market Cap Spot

Oil giant Saudi Aramco is narrowing the gap with Apple Inc. for the title of the world’s most valuable company. Benefiting from oil prices hitting the highest since 2008, Aramco shares have jumped 15% in less than three weeks, giving it a market capitalization of over $2.3 trillion, Bloomberg reported.…

Asharq Al-Awsat

Saudi Arabia Raises April Arab Light Crude Prices to Asia

Saudi Arabia's state oil producer Aramco raised its April official selling price (OSP) for all crude grades it sells to Asia in line with market expectations. The world's top oil exporter raised its April OSP to Asia for its flagship Arab Light crude to $4.95 a barrel versus Oman/Dubai crude,…

Asharq Al-Awsat

Saudi Arabia, Cyprus Eye Economic Integration to Absorb Geopolitical Shocks

The visit of Cypriot President Nicos Anastasiades to Saudi Arabia on Tuesday raised the bar of expectations for the two countries enhancing strategic cooperation. This comes when geopolitical developments are emerging due to the Russian-Ukrainian war. Economists stressed that available opportunities are enough to constitute a required integration for the…

Asharq Al-Awsat

Global Consortium Acquires 49% of Aramco

Saudi Aramco announced that an international investor consortium, led by affiliates of BlackRock and Hassana, acquired a 49 percent stake in Aramco Gas Pipelines Company, a subsidiary of Aramco, for $15.5 billion. The consortium comprises leading institutional investors, including, amongst others, Keppel Infrastructure Trust, Silk Road Fund, and China Merchants…

Asharq Al-Awsat

Saudi Aramco in Talks on More Investments in China

Oil giant Saudi Aramco is in talks with partners in China about further investments in the country, CEO Amin Nasser said on Monday. "China is an important part of Aramco's base," Nasser told reporters on the sidelines of a conference in Saudi Arabia. "And we are currently in discussions with…

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