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The Latest Breaking News from Aramco

Saudi Arabia transfers $80bn in shares to wealth fund for green projects

Crown Prince Mohammed bin Salman said move was part of efforts to recalibrate the oil-led economy

The Guardian - UK

$80 billion in Aramco shares moved to Saudi sovereign fund

Riyadh (AFP) - Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the world's biggest oil exporter to the kingdom's sovereign wealth fund, authorities said on Sunday.

AFP

Saudi transfers oil giant Aramco shares to sovereign fund

Riyadh (AFP) - Saudi Arabia has moved four percent of Aramco shares worth 80 billion dollars in the world's biggest oil exporter to the kingdom's sovereign wealth fund, authorities said Sunday.

AFP

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Saudi Arabia gives 4% of Aramco to investment fund

Saudi Arabia says it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 billion infusion of cash as it tries to overhaul its energy-dependent economy

The Independent UK

Saudi Arabia Raises March Crude Prices to Asia

Saudi Aramco has raised prices for all crude grades it sells to Asia in March from February, in line with market expectations. The world's top oil exporter increased its March price for its Arab Light crude grade for Asian customers by 60 cents a barrel versus February to a premium…

Asharq Al-Awsat

Saudi Aramco, the world’s biggest oil company, eyes London for $50 billion IPO

Saudi Arabia has restarted plans to list more shares of Aramco, according to people familiar with the company's strategy, with an ambition to sell as much as a $50 billion stake, which at current valuations would be 2.5% of the company.

Evening Standard

Aston Martin F1 team strikes long-term partnership with Saudi's Aramco

Aramco will work with Aston Martin to help the team meet Formula One’s target for cars to be powered wholly by sustainable fuels by 2025 and develop more efficient hybrid engines in motorsport

The Hindu

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Saudi Arabia Announces $6.4 Billion Investments in Future Tech

Saudi Arabia has launched investments worth $6.4 billion in future technologies, the Saudi minister of communication and information technology said on Tuesday, as the Kingdom races to diversify its economy from oil. The investments announced on Tuesday include a $2 billion joint venture between eWTP Arabia Capital, a fund backed…

Asharq Al-Awsat

Aramco CEO Says Energy Transition ‘Not Going Smoothly’

Saudi Aramco Chief Executive Amin Nasser said on Thursday that investment in oil and gas was needed to run alongside new energy investments until the latter can realistically support rising consumption. “We all agree that to move towards a sustainable energy future, a smooth energy transition is absolutely essential, but…

Asharq Al-Awsat

Saudi Joint Team to Ensure Implementation of Industrial, Energy Projects

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef revealed that the Ministry of Energy and Saudi Aramco are working closely to create a joint team and ensure that related projects are progressing appropriately, including those of the “In Kingdom Total Value Add” (IKTVA) program for the supply sector.…

Asharq Al-Awsat

Aramco Says Oil Demand is Nearing Pre-COVID Levels

Saudi Aramco said oil demand is nearing pre-COVID levels and reiterated that producers globally are investing too little in supply. "We are getting very close to pre-pandemic levels," CEO Amin Nasser according to Bloomberg.

Asharq Al-Awsat

IKTVA Forum Kicks Off to Discuss Developing Energy Supply Chain Sector in Saudi Arabia

The In-Kingdom Total Value Add (IKTVA 2022) has kicked off on Monday, highlighting the oil giant’s role in boosting local opportunities in Saudi Arabia. Saudi Aramco organized the three-day event, held at the Dhahran Expo Center in the Kingdom’s Eastern Province, to allow business partners to meet and discuss the…

Asharq Al-Awsat

Aramco Signs 10 Agreements during Saudi-Korean Investment Forum

Saudi Aramco has signed one agreement and nine Memoranda of Understanding (MoUs) with leading Korean entities to advance its downstream strategy and support development of low-carbon energy solutions, while creating new financing options for the company. The agreements were announced on Tuesday on the sidelines of a meeting between Crown…

Asharq Al-Awsat

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